Key points
- It’s been a tough month for the Advanced Human Imaging share price
- In that time, the company has announced a new binding term sheet and released its quarterly report
- Its stock might have also been impacted by the tech sector’s struggles
The Advanced Human Imaging Ltd (ASX: AHI) share price has tumbled over the last 30 days.
It has slumped from 99 cents this time last month to trade at 42 cents today. That represents a 57% dip and includes today’s 11% plummet.
For context, the broader market has also fallen over the last month, but not nearly as severely. The S&P/ASX 200 Index (ASX: XJO) has fallen 6.9% while the All Ordinaries Index (ASX: XAO) is down 7.1%. They are down 0.3% and 0.5% respectively today.
Let’s take a look at what might be dragging the imaging software creator’s shares downwards.
What’s weighing on the Advanced Human Imaging share price lately?
It’s been a rough few weeks for the Advanced Human Imaging share price despite the company’s silence for most of the last month. However, over the last 7 days, it has released 2 price-sensitive announcements to the market.
First, the company announced it had signed a binding term sheet with digital health provider Activate Health OÜ.
The term sheet will see Activiate integrating the AHI MultiScan digital health solution into its Estonian medical device platform.
Additionally, the company released an update on its performance over the December quarter on Monday.
Advanced Human Imaging listed on the Nasdaq Index last quarter. The company ultimately ended up raising around US$12 million through its United States IPO.
It also noted progress on products made by Nexus-Vita and Tinjoy using its CompleteScan platform.
So far, the company has received US$100,000 for work to integrate its Complete Span platform into Nexus-Vita’s offering. However, Tinjoy’s launch has been dampened by China’s government’s COVID-19 strategy.
Finally, in non-price sensitive news, Advanced Human Imagining announced the signing of another binding term sheet yesterday, this time with South Africa-based Vertica Health. It will see Vertica Health integrating the AHI MultiScan SDKs.
However, the tech sector’s movements might have helped weigh down the Advanced Human Imagining share price over the last month.
While the ASX 200 has undoubtedly fallen, the S&P/ASX 200 Information Technology Index (ASX: XIJ) has tumbled 23%, including today’s 6% fall.
The post Why has the Advanced Human Imaging (ASX:AHI) share price plummeted 57% in a month? appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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