Iradimed Corp (IRMD) Forms Multiple Bottom Pattern; Strong Momentum for Sellers

September 17, 2017 - By Dolores Ford

Investors sentiment decreased to 1.11 in Q4 2016. Its down 0.75, from 1.86 in 2016Q3. It is negative, as 15 investors sold Iradimed Corp shares while 12 reduced holdings. 8 funds opened positions while 22 raised stakes. 2.26 million shares or 12.83% less from 2.60 million shares in 2016Q3 were reported.
Oxford Asset Mngmt invested 0.02% in Iradimed Corp (NASDAQ:IRMD). 5,480 were reported by Jpmorgan Chase. Globeflex Cap Ltd Partnership stated it has 0.12% of its portfolio in Iradimed Corp (NASDAQ:IRMD). Blackrock Incorporated has invested 0% in Iradimed Corp (NASDAQ:IRMD). Group owns 2,326 shares. Glenmede Na has 450 shares. 122,078 are held by Granite Invest. Ativo Management Limited Liability Corporation reported 0.18% of its portfolio in Iradimed Corp (NASDAQ:IRMD). Conestoga Advsr Limited Com reported 504,600 shares. Renaissance Technology Lc has invested 0% in Iradimed Corp (NASDAQ:IRMD). 53,314 are owned by Menta Capital Ltd Com. Deutsche Bank & Trust Ag holds 0% or 6,737 shares. Wells Fargo Mn reported 0% in Iradimed Corp (NASDAQ:IRMD). Millennium Lc, New York-based fund reported 24,557 shares. Connors Investor Svcs invested 0.04% of its portfolio in Iradimed Corp (NASDAQ:IRMD).

Since May 30, 2017, it had 0 buys, and 1 sale for $38,549 activity.

The stock of Iradimed Corp (IRMD) shows a multiple bottoms pattern with $9.55 target or 3.00 % below today’s $9.85 share price. The 6 months chart pattern indicates high risk for the $104.23M company. It was reported on Sep, 17 by Finviz.com. If the $9.55 price target is reached, the company will be worth $3.13M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 2.48% or $0.25 on September 15, reaching $9.85. About 7,887 shares traded. Iradimed Corp (NASDAQ:IRMD) has declined 54.40% since September 17, 2016 and is downtrending. It has underperformed by 71.10% the S&P500.

Iradimed Corp (NASDAQ:IRMD) Ratings Coverage

Among 2 analysts covering iRadimed (NASDAQ:IRMD), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. iRadimed had 6 analyst reports since July 30, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Monday, November 2 by Roth Capital. The company was maintained on Monday, November 2 by TH Capital. Roth Capital downgraded the stock to “Neutral” rating in Wednesday, October 5 report. The firm has “Buy” rating by TH Capital given on Thursday, July 30. The firm earned “Buy” rating on Monday, April 4 by Roth Capital. The stock has “Buy” rating by Roth Capital on Monday, July 31.

More notable recent Iradimed Corp (NASDAQ:IRMD) news were published by: Globenewswire.com which released: “IRADIMED CORPORATION Announces First Shipments of Its MRI Compatible Patient …” on January 03, 2017, also Seekingalpha.com with their article: “iRadimed’s (IRMD) CEO Roger Susi on Q1 2017 Results – Earnings Call Transcript” published on April 29, 2017, Globenewswire.com published: “IRADIMED CORPORATION Announces Fourth Quarter 2016 Financial Results” on February 06, 2017. More interesting news about Iradimed Corp (NASDAQ:IRMD) were released by: Seekingalpha.com and their article: “iRadimed Poised For Market Domination” published on February 14, 2017 as well as Zacks.com‘s news article titled: “Should You Get Rid of IRadimed Corporation (IRMD) Now? October 14, 2016” with publication date: October 14, 2016.

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