China Jo-Jo Drugstores CJJD Stock Forecast 2023
China Jo-Jo Drugstores CJJD Stock Forecast 2023: Latest Price
China Jo-Jo Drugstores, Inc., together with its subsidiaries, operates as a retailer and distributor of pharmaceutical and other healthcare products in the People’s Republic of China. The company operates through four segments: Retail Drugstores, Online Pharmacies, Drug Wholesale, and Herb Farming.
Further, the company distributes third-party pharmaceutical products primarily to trading companies, as well as cultivates and wholesales herbs used for TCM. It operates retail pharmacies under the Jiuzhou Grand Pharmacy name. The company was founded in 2003 and is headquartered in Hangzhou, the People’s Republic of China.
Performance of CJJD Stock
- 1 M: -72.29%
- 3 M: -66.95%
- 12 M: -47.00%
CJJD Stock Technical Analysis
- 52-Week Range: 0.6100 – 9.6499
- Volume: 7,672,556
- Average Vol.(3m): 3,489,607
- Market Cap: 18.69M
- EPS: -0.917
The analysts’ judgment is leaning in the direction of a neutral opinion whereas the public sentiment is strongly in favor of buying the stock. In contrast to this, the stock technicals are dreadful. All of the moving averages indicate approaching calamity. The stock is anticipated to perform badly as we look at the indicators for the 1-day period, we notice that momentum oscillators like the RSI (14), STOCH (9,6), and Williams%R are each at values of 29.604, 22.713, and negative -92.643, respectively, indicating that the stock is in the selling area and is currently overbought.
Due to MACD (12,26) and ADX (14) not looking favorable, even trend oscillators predict that the stock will end up in the red zone.
China Jo-Jo Drugstores CJJD Stock Forecast 2023: Latest News
China Jo-Jo Drugstores, Inc. (Nasdaq: CJJD) (“Jo-Jo Drugstores” or the “Company”), a top online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products, and healthcare provider in China, announced today that the previously announced registered direct offering to issue 2,258,888 ordinary shares and registered warrants to purchase up to 4,517,776 ordinary shares to an institutional investor was terminated. In connection with the previously announced proposed offering, no securities were sold in accordance with the Company’s shelf registration statement on Form F-3
CJJD Stock Forecast 2023: Macros
The market for pharmacies in the United States was estimated to be worth USD 527.0 billion in 2022, and from 2023 to 2030, it is anticipated to increase at a CAGR of 3.67%. The country’s growing older population, excessive prescription medication usage, and rising chronic illness prevalence are all blamed for the surge. The health policy institute estimates that around 131 million Americans (66% of adults) used prescription medications in 2021. Furthermore, according to research from the American Society of Health-System Pharmacists (ASHP), the nation’s overall medication spending climbed by almost 8% in 2021, further demonstrating the strong demand for prescription pharmaceuticals in the nation.
China Jo-Jo Drugstores CJJD Stock Forecast 2023: Fundamentals
China Jo-Jo Drugstores, Inc. reported earnings results for the full year ended March 31, 2022. For the full year, the company reported sales were USD 164.39 million compared to USD 133.13 million a year ago. Net loss was USD 3.19 million compared to USD 8.12 million a year ago. The basic loss per share from continuing operations was USD 0.92 compared to USD 2.39 a year ago. The diluted loss per share from continuing operations was USD 0.92 compared to USD 2.39 a year ago.
The company has not been performing well for a long time and has been going into losses with negative Earnings per share, thus keeping its PE ratio at -4.88. The industry average is 27.3 times, indicating that if the company, starts performing well, its valuation can skyrocket.
The company is more liquid than the industry as the industry average quick ratio stands at 0.33 whereas the company has a quick ratio of 0.51 indicating a higher ratio of cash and cash equivalents to its current liabilities.
China Jo-Jo Drugstores CJJD Stock Forecast 2023: Analysts’ Price Targets
CNN: The analysts offering 12-month price forecasts for China Jo-Jo Drugstores Holdings Inc have a median target of 84.00, with a high estimate of 84.00 and a low estimate of 84.00. The median estimate represents a +9,049.33% increase from the last price of 0.92.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.
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