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The latest announcement is out from Optimi Health ( (TSE:OPTI) ).
Optimi Health plans to pursue a listing on the Nasdaq Capital Market under the ticker “OPTH” alongside an underwritten public offering of common shares in the United States. The company has filed a registration statement with the U.S. Securities and Exchange Commission, and Joseph Gunnar & Co. is acting as sole book-running manager for the planned U.S. offering.
To meet Nasdaq’s minimum share price requirements, Optimi’s board has approved a 30-for-1 share consolidation to be effected prior to the registration statement becoming effective. The consolidation will reduce the company’s outstanding shares from about 96.8 million to roughly 3.2 million while maintaining shareholders’ proportional ownership, and is expected to support the company’s efforts to broaden its investor base and enhance its visibility in U.S. capital markets.
The most recent analyst rating on (TSE:OPTI) stock is a Hold with a C$0.29 price target. To see the full list of analyst forecasts on Optimi Health stock, see the TSE:OPTI Stock Forecast page.
Spark’s Take on OPTI Stock
According to Spark, TipRanks’ AI Analyst, OPTI is a Neutral.
The score is primarily held down by weak financial performance (sharp revenue decline, negative gross profit, ongoing losses and cash burn, and higher leverage). Technicals are supportive with price above major moving averages and a positive MACD, but overbought readings (RSI/Stoch) add near-term risk. Valuation is constrained by negative earnings and no provided dividend yield.
To see Spark’s full report on OPTI stock, click here.
More about Optimi Health
Optimi Health Corp. is a commercial-stage pharmaceutical company specializing in the manufacturing and distribution of finished psychedelic drug products. The company targets regulated medical and therapeutic markets, with its shares currently traded on the Canadian Securities Exchange, OTCQX, and Frankfurt Stock Exchange.
Average Trading Volume: 116,203
Technical Sentiment Signal: Buy
Current Market Cap: C$28.55M
Learn more about OPTI stock on TipRanks’ Stock Analysis page.