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PhotoMedex (NASDAQ:PHMD) shares hit a new 52-week low during trading on Wednesday , AnalystRatingsNetwork.com reports. The stock traded as low as $8.45 and last traded at $8.59, with a volume of 29,140 shares traded. The stock had previously closed at $8.55.

A number of research firms have recently commented on PHMD. Analysts at Maxim Group reiterated a “hold” rating on shares of PhotoMedex in a research note on Friday, August 8th. Analysts at Canaccord Genuity downgraded shares of PhotoMedex from a “buy” rating to a “hold” rating in a research note on Friday, August 8th. They now have a $8.00 price target on the stock, down previously from $15.00. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $13.00.

The stock’s 50-day moving average is $10.34 and its 200-day moving average is $13.01. The company’s market cap is $157.6 million. PhotoMedex also was the recipient of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 1,925,206 shares, a decrease of 45.3% from the July 31st total of 3,517,575 shares. Based on an average daily trading volume, of 311,038 shares, the days-to-cover ratio is currently 6.2 days. Currently, 16.9% of the company’s shares are short sold.

PhotoMedex (NASDAQ:PHMD) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by $0.08. The company had revenue of $52.10 million for the quarter, compared to the consensus estimate of $62.10 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts expect that PhotoMedex will post $-0.79 EPS for the current fiscal year.

PhotoMedex, Inc (NASDAQ:PHMD) is a Global Skin Health Solutions company that provides integrated disease management and aesthetic solutions to dermatologists, professional aestheticians and consumers.

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