Itonic Stock to Reverse Split on Tuesday, October 6th (NASDAQ:ITOC)

Itonic Holdings Ltd. (NASDAQ:ITOC) shares are going to reverse split on Tuesday, October 6th. The 1-16 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, October 5th.

Itonic Trading Down 12.9%

Shares of NASDAQ ITOC traded down $0.04 during midday trading on Friday, reaching $0.25. The company had a trading volume of 212,645 shares, compared to its average volume of 995,162. Itonic has a 1 year low of $0.22 and a 1 year high of $1.15. The business’s 50-day simple moving average is $0.29 and its 200 day simple moving average is $0.31.

Itonic (NASDAQ:ITOC) last issued its earnings results on Wednesday, September 30th. The company reported ($0.05) earnings per share (EPS) for the quarter. The company had revenue of $0.05 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Itonic from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

About Itonic

iTonic Holdings Ltd., a healthcare solutions provider, develops and commercializes treatment software and devices used for brachytherapy. Its proprietary treatment planning system is a radioactive particle implantation, a radiotherapy used in treating cancer patients by placing radioactive sources inside the patient that kill cancer cells and shrink tumors. The company offers FTTPS, a treatment planning system for treating various malignant tumors, which could determine the target volume, prescription dose, and dose limitation to protect organs at risks and produce dose distribution plan for brachytherapy for cancer patients.