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Why Is ENDRA Life Sciences (NDRA) Stock Down 16% Today?


  • ENDRA Life Sciences (NDRA) stock is slipping on public offering news.
  • The company is offering 862,500 shares of NDRA stock.
  • That also includes 431,250 warrants.
NDRA Stock - Why Is ENDRA Life Sciences (NDRA) Stock Down 16% Today?

Source: THICHA SATAPITANON / Shutterstock

ENDRA Life Sciences (NASDAQ:NDRA) stock is sliding lower on Friday after revealing the details of its public offering.

ENDRA Life Sciences is offering up 862,500 shares of NDRA stock alongside 431,250 warrants to purchase more shares. There’s also an option for underwriters to acquire another 112,500 shares and 56,250 warrants.

News of the public offering has shares of NDRA stock seeing heavy trading on Friday. That has some 127,000 shares of the stock changing hands as of this writing. For comparison, the company’s daily average trading volume is closer to 16,800 shares.

How This Affects NDRA Stock

A stock offering means that ENDRA Life Sciences is increasing the total number of outstanding shares of NDRA. That’s not something that investors typically welcome as it results in a dilution of their shares in the company.

Stock offering also often results in the price of a company’s shares falling. That can be due to pricing, as well as the increase in shares. That’s another factor that results in investors reacting negatively to public offerings.

ENDRA Life Sciences is a pharmaceutical company working on a new Thermo-Acoustic Enhanced UltraSound system. This would allow for visualization of human tissue at a much cheaper price than what CT and MRI scans offer.

NDRA stock is down 16.3% as of Friday morning.

Investors looking for more of the most recent stock market news will want to keep reading!

We’ve got all of the hottest stock market coverage worth knowing about on Friday! That includes why shares of Hillstream BioPharma (NASDAQ:HILS), AGBA (NASDAQ:AGBA), and Top Financial (NASDAQ:TOP) stock are moving today. You can catch up on all of that news at the links below!

More Friday Stock Market News

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/04/why-is-endra-life-sciences-ndra-stock-down-16-today/.

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