Should You Buy Psychemedics Corp. (PMD) Stock After it Is Down 2.45% in a Week?

Overall market sentiment has been down on Psychemedics Corp. (PMD) stock lately. PMD receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

Psychemedics Corp. has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on PMD!

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What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With PMD Stock Today?

Psychemedics Corp. (PMD) stock is trading at $7.56 as of 1:54 PM on Thursday, Sep 9, a drop of -$0.12, or -1.58% from the previous closing price of $7.68. Volume today is elevated. So far 42,067 shares have traded compared to average volume of 26,334 shares. The stock has traded between $7.40 and $7.73 so far today. To screen for more stocks like Psychemedics Corp. click here.

More About Psychemedics Corp.

Psychemedics Corp is a US-based company that provides testing services for the detection of drugs of abuse through the analysis of hair samples. The core business of the company is performing drug testing and reporting the results. Its drug testing services include training for collection of samples and storage of positive samples for its customers for an agreed-upon fee per unit tested of samples. The company also provides testimony to support the results of the tests. The testing methods of the company utilize a patented technology that digests the hair and releases drugs trapped in the hair without destroying the drugs. The company operates through a single segment being Drug testing services. Click Here to get the full Stock Report for Psychemedics Corp. stock.