Scotia Capital Inc. Sells 30,703 Shares of Akumin Inc. (NASDAQ:AKU)

Scotia Capital Inc. lessened its holdings in shares of Akumin Inc. (NASDAQ:AKU – Get Rating) by 24.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,397 shares of the company’s stock after selling 30,703 shares during the quarter. Scotia Capital Inc.’s holdings in Akumin were worth $66,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. First Light Asset Management LLC raised its stake in Akumin by 1.2% in the first quarter. First Light Asset Management LLC now owns 3,710,385 shares of the company’s stock valued at $4,119,000 after purchasing an additional 43,737 shares in the last quarter. Royal Bank of Canada raised its position in shares of Akumin by 1,798.0% during the 3rd quarter. Royal Bank of Canada now owns 58,628 shares of the company’s stock valued at $100,000 after buying an additional 55,539 shares in the last quarter. Sona Asset Management US LLC bought a new stake in shares of Akumin during the 1st quarter worth $223,000. BlackRock Inc. grew its position in Akumin by 365.7% in the third quarter. BlackRock Inc. now owns 684,534 shares of the company’s stock worth $1,171,000 after acquiring an additional 537,537 shares in the last quarter. Finally, Vanguard Group Inc. bought a new position in Akumin in the third quarter valued at $1,188,000. Hedge funds and other institutional investors own 25.75% of the company’s stock.

Akumin Price Performance

Shares of NASDAQ AKU opened at $0.39 on Monday. The stock has a market capitalization of $35.30 million, a P/E ratio of -0.22 and a beta of -0.49. The company has a debt-to-equity ratio of 17.02, a current ratio of 1.09 and a quick ratio of 1.09. Akumin Inc. has a one year low of $0.35 and a one year high of $2.31. The firm’s 50 day simple moving average is $0.64 and its two-hundred day simple moving average is $0.90.

Akumin (NASDAQ:AKU – Get Rating) last issued its earnings results on Thursday, March 16th. The company reported ($0.17) EPS for the quarter. Akumin had a negative return on equity of 71.19% and a negative net margin of 21.45%. The business had revenue of $184.64 million during the quarter, compared to analysts’ expectations of $176.30 million. As a group, analysts expect that Akumin Inc. will post -1.08 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, National Bankshares cut their price objective on Akumin from $0.50 to $0.25 and set an “underperform” rating for the company in a report on Tuesday, May 16th.

Akumin Profile

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Akumin, Inc engages in the provision of fixed-site outpatient diagnostic imaging services and solutions. It operates under the Radiology and Oncology segments. The Oncology segment includes delivering ionizing radiation to treat malignant and benign disease processes under the direction of a radiation oncologist.