PROF Stock Summary and Trading Ideas (Profound Medical Corp. | NASDAQ:PROF)

Profound Medical Corp is a commercial-stage medical device company focused on the development and marketing of customizable, incision-free therapeutic systems for the image-guided ablation of diseased tissue utilizing its platform technologies and leveraging the healthcare system's existing imaging infrastructure. The company's product TULSA-PRO system combines real-time MRI, robotically driven transurethral sweeping-action thermal ultrasound with closed-loop temperature feedback control for the ablation of prostate tissue. The product is comprised of one-time-use devices and durable equipment that are used in conjunction with a customer's existing MRI scanner.

Profound Medical Corp. trades on the NASDAQ stock market under the symbol PROF.

As of May 10, 2024, PROF stock price declined to $7.73 with 80,492 million shares trading.

PROF has a beta of 1.44, meaning it tends to be more sensitive to market movements. PROF has a correlation of 0.07 to the broad based SPY ETF.

PROF has a market cap of $188.80 million. This is considered a Micro Cap stock.

Last quarter Profound Medical Corp. reported $2 million in Revenue and -$.26 earnings per share. This fell short of revenue expectation by $-610,000 and exceeded earnings estimates by $.04.

In the last 3 years, PROF stock traded as high as $19.32 and as low as $3.10.

The top ETF exchange traded funds that PROF belongs to (by Net Assets): DFIS, DFIC.

PROF has underperformed the market in the last year with a price return of -41.7% while the SPY ETF gained +27.8%. PROF has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -11.6% and -3.7%, respectively, while the SPY returned +4.2% and +2.5%, respectively.

PROF support price is $8.13 and resistance is $8.91 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PROF stock will trade within this expected range on the day.