TMDI Stock Forecast: TMDI Stock Price Today
TMDI stock price today is 1.75 USD with a volume of 790.115. At the same time, its chart fluctuates between 1.78 USD 1.68 USD. TDMI stock price was a maximum of 3.42 USD and a minimum of 0.26 USD within 52 weeks. Its average volume is 1,885,838 and it is ranked 194,959,288B in the MarketCap listings. The target point of TDMI stock price at the end of 1 year is 4.00 USD.
Titan Medical Inc.
Titan Medical Inc is a company headquartered in Ontario, Canada and regulated by the US Safety and Change Commission. It is specifically responsible for the manufacture, development and sale of surgical and medical instruments and devices.
Titan Medical Inc is a company focused on developing computer-assisted robotic surgery technologies for application in minimally invasive surgery (MIS). The company is developing a 3D high-definition vision system for MIS and a surgeon-controlled patient cart with multi-joint instruments and a single-port robotic surgery system that provides an advanced ergonomic interface to the patient cart. Titan plans to initially base gynecological surgery indications for the development and use of a single-port robotic surgery system.
TMDI Stock Price Decline
In recent weeks, TMDI stock price suspended the medical device company’s timeline for the Sport robot-assisted surgical device. On top of that, it lost almost half of its value.
Earlier this year, the company had to retract the timeline for the 501 (K) submission to the FDA from the end of this year to the first half of 2020. TMDI withdrew all targets after the fourth quarter of the year as the primary product development supplier limited development work in the company’s robotic surgery system due to lack of funding.
The supplier also reduced a significant number of employees and contractors working in the Sports program. In addition, relations with the second supplier deteriorated and the quality of work decreased due to the inability and dissatisfaction of TMDI with its 3 million dollar solvency.
TMDI said that the $ 2.9 million owed by the supplier was rejected by Titan, and the anonymous supplier was met with a request to stop all work on behalf of the company. In the statement made, it was stated that these events will significantly affect the timing and costs for the completion of the company’s future milestones. Because recruiting employees and continuing product development requires additional time and budget.
Should TMDI Stock Be Purchased?
TMDI stock price rose 5.33% from $ 1.69 to $ 1.78 on the last trading day. Examining the increase and rise in the coming days can give information about the continuity of this increase. During this period, the price is rising and falling, but there is an overall increase of 2.89% in the last 2 weeks. With the price, which has some signals, the sales volume increased in the last day and 310 thousand more stocks were traded compared to the previous day. Currently, a total of 783 thousand shares have been traded for approximately $ 1.39 million.
TDMI stock is in the midst of a very falling trend in the short term. This signals that there may be more declines in the trend. Considering this analysis, it is thought that the stock will decrease 21.21% in the next 3 months and with a 90% probability that it will be between 1.02 and 1.60 USD at the end of this 3-month period.
Although the stock is in a downward trend, several short-term signals appear to be positive. For this reason, there is a possibility that the stock will perform well in the short term. TDMI stock can be considered as a stock in the pocket as a result of examinations and researches.
This content is not for financial advice. You must do your own research before putting your money to investment.