KindlyMD (NASDAQ:NAKA) Stock Price Down 33.4% - Here's Why

Key Points

• KindlyMD's stock price fell by 33.4% to around $5.38, with trading volume dropping 53% from average levels.
• Despite the decline, Maxim Group initiated coverage with a "buy" rating and an $8.00 price target for the company.
• The company reported a quarterly loss of ($0.34) earnings per share with a negative net margin of 244%.

Shares of KindlyMD, Inc. (NASDAQ:NAKA - Get Free Report) dropped 33.4% during trading on Wednesday . The stock traded as low as $5.22 and last traded at $5.38. Approximately 1,432,916 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 3,066,629 shares. The stock had previously closed at $8.08.

Wall Street Analyst Weigh In

Separately, Maxim Group initiated coverage on KindlyMD in a research report on Wednesday, September 3rd. They issued a "buy" rating and a $8.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, KindlyMD currently has a consensus rating of "Buy" and an average price target of $8.00.

KindlyMD Price Performance

The stock has a market capitalization of $1.84 billion, a P/E ratio of -5.69 and a beta of 33.96. The firm has a 50-day moving average price of $9.70.

KindlyMD (NASDAQ:NAKA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.34) earnings per share for the quarter. The company had revenue of $0.41 million during the quarter. KindlyMD had a negative net margin of 244.00% and a negative return on equity of 131.09%.

KindlyMD Company Profile

Kindly MD, Inc (“KindlyMD” or “Kindly”) is a Utah company formed in 2019. KindlyMD is a healthcare data company, focused on holistic pain management and reducing the impact of the opioid epidemic. KindlyMD offers direct health care to patients integrating prescription medicine and behavioral health services to reduce opioid use in the chronic pain patient population.

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