ZOM Stock Forecasts Earnings Numbers for 2021 Fail to Boost

Summary:

Ziomedica's latest earnings figures did little to boost the pharmaceutical firm's outlook, leading to underwhelming ZOM stock forecasts.

The earnings result of Ziomedica Corporation did not provide a clear direction for the short-term ZOM stock forecast. In its latest earnings report, Ziomedica reported a net loss per share of $0.05, an unchanged figure from the same period a year before.

Revenue for the year that ended on 31 December came in at $4.1m, compared with no income for the 2020 fiscal year. This revenue came from the business activity in the 4th quarter. Ziomedica did not report revenue or profit/loss figures for the quarter.

The company also reported increasing the cash and cash equivalents it held. It said that these stood at $195m as of 31 December 2021, compared with the $62m it held in cash as of 31 December 2020. The price activity showed only a slightly negative move, dropping 7.01% as of writing in a day that has been characterized by low volume trading in the former meme stock favourite of retail trading groups.

ZOM Stock Forecast

The price picture on the daily chart shows that there has been rejection at the 0.3980 resistance mark. The pullback seen in the active daily candle needs to generate extra momentum to target the 0.2702 support. If this support gives way under bearish pressure, 0.1505 (26 May/14 December 2020 lows) becomes a potential destination to the south. Below this level, additional support is seen at 0.0631 (6 November 2020 lows), but this level only becomes viable if there is price deterioration below 0.1505.

On the flip side, 0.4968 becomes a clear target to the north if the bulls can take out the resistance barrier at 0.3980. If price continues above 0.4968 (8 January 2021/16 February 2022 highs), the price activity could touch off the psychological resistance at 0.6000 (also 4 November 2021 high), before 0.6940 comes into the picture as an additional northbound destination.