Modular Medical, Inc. (NASDAQ:MODD) Sees Significant Growth in Short Interest
by Scott Moore · The Cerbat GemModular Medical, Inc. (NASDAQ:MODD – Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,599,394 shares, an increase of 412.0% from the February 26th total of 312,370 shares. Based on an average daily volume of 2,965,256 shares, the short-interest ratio is presently 0.5 days. Approximately 2.2% of the shares of the stock are short sold. Approximately 2.2% of the shares of the stock are short sold. Based on an average daily volume of 2,965,256 shares, the short-interest ratio is presently 0.5 days.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Modular Medical in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Modular Medical presently has a consensus rating of “Sell”.
Read Our Latest Stock Analysis on Modular Medical
Hedge Funds Weigh In On Modular Medical
Institutional investors and hedge funds have recently bought and sold shares of the stock. Warberg Asset Management LLC purchased a new stake in Modular Medical in the 3rd quarter worth approximately $31,000. Perritt Capital Management Inc increased its stake in shares of Modular Medical by 34.2% during the third quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock valued at $59,000 after buying an additional 21,675 shares during the period. Jane Street Group LLC raised its holdings in shares of Modular Medical by 446.8% during the fourth quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock valued at $60,000 after acquiring an additional 133,969 shares in the last quarter. Sio Capital Management LLC raised its holdings in shares of Modular Medical by 211.8% during the second quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock valued at $585,000 after acquiring an additional 533,834 shares in the last quarter. Finally, 683 Capital Management LLC lifted its stake in Modular Medical by 79.4% in the fourth quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock worth $642,000 after acquiring an additional 780,000 shares during the period. 27.47% of the stock is currently owned by institutional investors.
Modular Medical Price Performance
Modular Medical stock traded down $0.01 during mid-day trading on Tuesday, hitting $0.17. The company’s stock had a trading volume of 1,099,954 shares, compared to its average volume of 1,931,010. The business has a 50 day moving average price of $0.37 and a 200-day moving average price of $0.47. Modular Medical has a 12 month low of $0.12 and a 12 month high of $1.29. The stock has a market cap of $13.30 million, a price-to-earnings ratio of -0.35 and a beta of 0.25.
Modular Medical (NASDAQ:MODD – Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($0.11) earnings per share (EPS) for the quarter.
About Modular Medical
Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.