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

Itonic Holdings Ltd. (NASDAQ:ITOC)’s stock is going to reverse split on the morning of Tuesday, October 6th. The 1-16 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, October 5th.

Itonic Trading Down 12.9%

Shares of NASDAQ:ITOC traded down $0.04 during trading on Friday, hitting $0.25. 212,645 shares of the company’s stock traded hands, compared to its average volume of 2,039,481. The company has a 50-day moving average price of $0.29 and a 200-day moving average price of $0.31. Itonic has a 52 week low of $0.22 and a 52 week high of $1.15.

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

Analyst Upgrades and Downgrades

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

Itonic Company Profile

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.