Should Investors Trust The Upside Potential In Incannex Healthcare Inc (IXHL)?

Incannex Healthcare Inc (NASDAQ:IXHL) currently has a daily average trading volume of 50.45M but it saw 172055228 shares traded in last market. With a market cap of 21.89M USD, the company’s current market price of $0.23 came rising about 14.57 while comparing to the previous closing price of $0.20. In past 52 weeks, the stock remained buoying in the range of price level as high as $3.55 and as low as $0.08. In the recent trading on the day, stock has struck highest price mark of $0.2067 while lowest mark touched by it was $0.2615.

Over the week, IXHL’s stock price is moving 30.50% up while it is 173.86% when we observe its performance for the past one month. Year-to-date it is -88.98% down and over the past year, the stock is showing a downside performance of -93.05%.

The company is expected to be releasing its next quarterly report on 2025-May-14, for which analysts forecasted an EPS of 0 while estimate for next year EPS is 0. In next quarter, company is expected to be making quarterly sales of $312k as analysts are expecting the sales for current fiscal year at $312k and seeing the company making $1.09M in sales next year. Moreover, analysts are in estimates of $312k for current-quarter revenue.

Currently, Incannex Healthcare Inc’s total number of outstanding shares is 93.70M with 26.14% of that held by the insiders while 8.29% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at -289.64% and return on equity (ROE) at -201.88%. Stock’s beta reads 2.47. Stock has a price to book (P/B) ratio of 0.56 while price to sale or P/S ratio amounts to 218.88. Its return on asset (ROA) is -130.01% on average.

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