Short Interest in LogicMark, Inc. (NASDAQ:LGMK) Expands By 81.1%

LogicMark, Inc. (NASDAQ:LGMK) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 6,230,000 shares, an increase of 81.1% from the May 15th total of 3,440,000 shares. Based on an average daily volume of 186,200,000 shares, the short-interest ratio is presently 0.0 days. Approximately 1.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On LogicMark

A hedge fund recently bought a new stake in LogicMark stock. Altium Capital Management LLC acquired a new position in LogicMark, Inc. (NASDAQ:LGMK) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,395,308 shares of the company’s stock, valued at approximately $107,000. LogicMark comprises approximately 0.3% of Altium Capital Management LLC’s portfolio, making the stock its 20th biggest holding. Altium Capital Management LLC owned 8.90% of LogicMark as of its most recent filing with the Securities and Exchange Commission. 7.88% of the stock is currently owned by hedge funds and other institutional investors.

LogicMark Price Performance

Shares of LogicMark stock remained flat at $0.00 on Monday. 10,764,770 shares of the stock traded hands, compared to its average volume of 49,513,435. LogicMark has a 52-week low of $0.00 and a 52-week high of $24.00. The company’s 50 day moving average price is $0.01 and its 200-day moving average price is $0.61. The firm has a market cap of $2.31 million, a PE ratio of 0.00 and a beta of 1.67.

LogicMark (NASDAQ:LGMK) last posted its earnings results on Thursday, May 15th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.09). The company had revenue of $2.59 million for the quarter, compared to analysts’ expectations of $2.23 million. LogicMark had a negative net margin of 141.96% and a negative return on equity of 124.91%. As a group, research analysts anticipate that LogicMark will post -54.25 earnings per share for the current year.

LogicMark Company Profile

LogicMark, Inc provides personal emergency response systems (PERS), health communications devices, and Internet of Things (IoT) technology that creates a connected care platform in the United States. The company’s devices provide people with the ability to receive care at home and age independently and to check, manage, and monitor a loved one’s health and safety remotely.