SBC Medical Group (NASDAQ:SBC) Shares Down 3.1% – What’s Next?

SBC Medical Group Holdings Incorporated (NASDAQ:SBC)’s stock price dropped 3.1% during trading on Thursday . The stock traded as low as $3.08 and last traded at $3.08. Approximately 28,161 shares traded hands during trading, a decline of 40% from the average daily volume of 46,783 shares. The stock had previously closed at $3.18.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wall Street Zen raised SBC Medical Group from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of SBC Medical Group in a research report on Wednesday. Finally, Maxim Group assumed coverage on shares of SBC Medical Group in a report on Wednesday. They set a “buy” rating and a $9.00 target price for the company. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.00.

SBC Medical Group Price Performance

The company’s 50 day moving average price is $4.07 and its 200-day moving average price is $4.23. The company has a market capitalization of $327.22 million, a PE ratio of 9.84 and a beta of 1.27. The company has a current ratio of 3.98, a quick ratio of 3.95 and a debt-to-equity ratio of 0.03.

SBC Medical Group (NASDAQ:SBC) last issued its earnings results on Wednesday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.12). SBC Medical Group had a return on equity of 20.76% and a net margin of 17.71%.The firm had revenue of $43.36 million for the quarter, compared to analysts’ expectations of $44.71 million. On average, sell-side analysts forecast that SBC Medical Group Holdings Incorporated will post 5.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SBC Medical Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in shares of SBC Medical Group during the second quarter valued at about $64,000. New York State Common Retirement Fund purchased a new position in SBC Medical Group in the second quarter valued at about $104,000. SBI Securities Co. Ltd. increased its holdings in SBC Medical Group by 227.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 54,177 shares of the company’s stock worth $251,000 after purchasing an additional 37,623 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new position in shares of SBC Medical Group in the 2nd quarter valued at approximately $455,000. Hedge funds and other institutional investors own 60.82% of the company’s stock.

About SBC Medical Group

SBC Medical Group Holdings Incorporated, through its subsidiaries, provides services to support the operation of clinics which deliver specialized medical services in the areas of cosmetic medicine, esthetic dentistry and Androgenetic Alopecia or AGA, primarily in Japan and centered on the SBC Shonan Beauty Clinic Brand.