Reviewing The Case For SCWorx Corp (WORX) Going Higher

Citadel Securities LLC recently announced the acquisition of new stake in SCWorx Corp (NASDAQ:WORX). This fresh investment now brings its stake to 0.42% valued currently at $10400.0. In addition, XTX Markets LLC raised its holdings by 1491.0 to 1491.0 shares.

With over 4.7 million SCWorx Corp (WORX) shares trading Tuesday and a closing price of $2.31 on the day, the dollar volume was approximately $10.86 million. The shares have shown a negative half year performance of -69.80% and its price on 12/26/23 gained nearly 32.00%. Currently, there are 1.21M common shares owned by the public and among those 1.04M shares have been available to trade.

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Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 340,000 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

The top 3 mutual fund holders in SCWorx Corp are Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and Fidelity Nasdaq Composite Index F. Vanguard Extended Market Index Fu owns 6922.0 shares of the company’s stock, all valued at over $14190.0. Fidelity Extended Market Index Fu sold 1.0 shares to see its total holdings shrink to 2425.0 shares valued at over $4971.0 and representing 0.20% of the shares outstanding. Fidelity Nasdaq Composite Index F bought 1.0 shares to bring its total holdings to over 1411.0 shares at a value of $2893.0. Fidelity Nasdaq Composite Index F now owns shares totaling to 0.12% of the shares outstanding.

Shares of SCWorx Corp (NASDAQ: WORX) opened at $2.02, up $0.27 from a prior closing price of $1.75. However, the script later moved the day high at 2.7400, up 32.00%. The company’s stock has a 5-day price change of 37.50% and -22.42% over the past three months. WORX shares are trading -61.11% year to date (YTD), with the 12-month market performance down to -59.47% lower. It has a 12-month low price of $1.63 and touched a high of $14.40 over the same period. WORX has an average intraday trading volume of 39.20K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 21.13%, 20.64%, and -37.57% respectively.

Institutional ownership of SCWorx Corp (NASDAQ: WORX) shares accounts for 2.14% of the company’s 1.21M shares outstanding. Mutual fund holders own 0.95%, while other institutional holders and individual stakeholders account for 1.18% and — respectively.

It has a market capitalization of $2.80M. The earnings-per-share (ttm) stands at -$1.69. Price movements for the stock have been influenced by the stock’s volatility, which stands at 16.63% over the week and 11.73% over the month.

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