Simulations Plus (NASDAQ:SLP) Sees Unusually-High Trading Volume – Here’s What Happened

by · The Cerbat Gem

Shares of Simulations Plus, Inc. (NASDAQ:SLP – Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 176,846 shares traded hands during mid-day trading, an increase of 40% from the previous session’s volume of 126,737 shares.The stock last traded at $32.60 and had previously closed at $33.98.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SLP. Craig Hallum reiterated a “buy” rating and set a $56.00 target price on shares of Simulations Plus in a research report on Wednesday, July 3rd. JMP Securities initiated coverage on shares of Simulations Plus in a research note on Tuesday, July 16th. They issued a “market perform” rating for the company. William Blair restated an “outperform” rating on shares of Simulations Plus in a research report on Thursday, September 12th. KeyCorp started coverage on Simulations Plus in a research report on Monday, July 29th. They issued an “overweight” rating and a $47.00 price target for the company. Finally, BTIG Research cut their target price on Simulations Plus from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.50.

Get Our Latest Stock Report on SLP

Simulations Plus Price Performance

The stock has a market cap of $619.71 million, a P/E ratio of 65.96 and a beta of 0.69. The firm’s fifty day moving average price is $33.31 and its two-hundred day moving average price is $40.83.

Insiders Place Their Bets

In other news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $31.26, for a total transaction of $625,200.00. Following the completion of the sale, the director now owns 3,481,592 shares in the company, valued at approximately $108,834,565.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 60,750 shares of company stock worth $2,145,055 in the last ninety days. 20.90% of the stock is currently owned by insiders.

Institutional Trading of Simulations Plus

Several institutional investors and hedge funds have recently made changes to their positions in SLP. nVerses Capital LLC increased its stake in Simulations Plus by 1,100.0% in the third quarter. nVerses Capital LLC now owns 1,200 shares of the technology company’s stock valued at $38,000 after acquiring an additional 1,100 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Simulations Plus during the 1st quarter valued at about $57,000. Allspring Global Investments Holdings LLC bought a new stake in Simulations Plus in the 1st quarter worth approximately $70,000. Connecticut Wealth Management LLC purchased a new stake in Simulations Plus in the first quarter worth approximately $204,000. Finally, Los Angeles Capital Management LLC bought a new position in Simulations Plus during the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 78.08% of the company’s stock.

About Simulations Plus

(Get Free Report)

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.

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