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Friday, November 27, 2020

Investor Confidence is Falling for Zomedica Corp. (AMEX:ZOM)

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Zomedica Corp. (ZOM) shares are trading at lower $0.07 and the avg recommendation for the stock is Moderate Buy.

To add more color to this target, the company’s high over the last year is $0.50 and the low is $0.07. Over the last 52 weeks, ZOM is down -76.23% while the S&P 500 is up 7.73%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

ZOM Return on Equity (ROE) is 586.20%, and its Return on Assets is -110.80%. All told, it is clear that, ZOM needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ZOM has a short ratio of 0.60 and outstanding shares of 564.05M.

Company Outlook

ZOM has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 13.71 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.10. Zomedica Corp. ZOM also noted assets of $32.76 million at the end of the last quarter. Investors should also keep an eye on sector updates as ZOM has historically followed its peers on positive news.

All told, Zomedica Corp. ZOM has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ZOM represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Zomedica Corp. ZOM is now commanding a market cap of 40.43M and a float of 510.35M. ZOM is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ZOM stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in ZOM, either long or short, and we have not been compensated for this article.

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