Simulations Plus (NASDAQ:SLP) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Simulations Plus, Inc. (NASDAQ:SLP)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.59 and traded as high as $16.74. Simulations Plus shares last traded at $15.88, with a volume of 172,685 shares.

Analysts Set New Price Targets

SLP has been the subject of several research reports. Weiss Ratings cut shares of Simulations Plus from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, May 21st. TD Cowen dropped their price target on shares of Simulations Plus from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Friday, April 10th. Finally, Wall Street Zen upgraded shares of Simulations Plus from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $24.40.

Simulations Plus Stock Down 4.6%

The firm has a market cap of $320.78 million, a PE ratio of -5.07 and a beta of 1.33. The company’s 50 day moving average price is $14.34 and its two-hundred day moving average price is $15.59.

Simulations Plus (NASDAQ:SLP) last announced its earnings results on Thursday, April 9th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.08. Simulations Plus had a negative net margin of 77.96% and a positive return on equity of 16.21%. The business had revenue of $24.29 million for the quarter, compared to the consensus estimate of $21.66 million. On average, analysts expect that Simulations Plus, Inc. will post 0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SLP. First Light Asset Management LLC grew its holdings in shares of Simulations Plus by 156.4% in the fourth quarter. First Light Asset Management LLC now owns 1,968,917 shares of the technology company’s stock worth $35,893,000 after purchasing an additional 1,201,157 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in Simulations Plus by 1,898.1% during the 4th quarter. First Eagle Investment Management LLC now owns 457,155 shares of the technology company’s stock worth $8,334,000 after acquiring an additional 434,275 shares in the last quarter. Meros Investment Management LP bought a new position in Simulations Plus during the 4th quarter worth about $6,184,000. Marshall Wace LLP boosted its holdings in shares of Simulations Plus by 127.5% in the 4th quarter. Marshall Wace LLP now owns 569,783 shares of the technology company’s stock valued at $10,387,000 after buying an additional 319,301 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Simulations Plus by 278.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 427,865 shares of the technology company’s stock valued at $7,800,000 after buying an additional 314,844 shares in the last quarter. 78.08% of the stock is currently owned by institutional investors.

About Simulations Plus

Simulations Plus, Inc (NASDAQ: SLP) specializes in advanced modeling and simulation software tailored to the pharmaceutical, biotechnology and chemical industries. The company’s flagship products include ADMET Predictor, a quantitative structure-activity relationship (QSAR) tool for predicting absorption, distribution, metabolism, excretion and toxicity properties, and GastroPlus, a physiologically based pharmacokinetic (PBPK) modeling platform for simulating drug absorption and pharmacokinetics.