Cytosorbents Corporation (NASDAQ:CTSO) Stock Short Interest Declines 94.8%
by Mitch Edgeman · The Markets DailyCytosorbents Corporation (NASDAQ:CTSO – Get Free Report) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 120,606 shares, a drop of 94.8% from the August 31st total of 2,306,196 shares. Approximately 4.2% of the shares of the stock are sold short. Based on an average trading volume of 45,552 shares, the short-interest ratio is presently 2.6 days.
Insider Buying and Selling
In related news, CEO Phillip Chan acquired 200,000 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was purchased at an average price of $0.35 per share, for a total transaction of $70,000.00. Following the transaction, the chief executive officer owned 1,944,432 shares in the company, valued at $680,551.20. This trade represents a 11.47% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.80% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cytosorbents in a research note on Monday, July 6th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $107.50.
Get Our Latest Analysis on CTSO
Cytosorbents Trading Up 2.8%
Shares of Cytosorbents stock traded up $0.12 during trading hours on Friday, reaching $4.42. 6,508 shares of the company’s stock were exchanged, compared to its average volume of 27,005. Cytosorbents has a 52-week low of $3.94 and a 52-week high of $20.40. The company has a fifty day moving average of $6.82 and a 200-day moving average of $9.30. The company has a current ratio of 0.66, a quick ratio of 0.50 and a debt-to-equity ratio of 4.70. The firm has a market capitalization of $13.92 million, a price-to-earnings ratio of -0.76 and a beta of 1.34.
Cytosorbents (NASDAQ:CTSO – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The medical research company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.73. Cytosorbents had a negative return on equity of 431.65% and a negative net margin of 48.94%.The business had revenue of $9.63 million during the quarter, compared to the consensus estimate of $9.38 million. Sell-side analysts forecast that Cytosorbents will post -4.4 EPS for the current fiscal year.
About Cytosorbents
CytoSorbents Corporation develops medical devices and blood-purification technologies designed to remove harmful substances from the bloodstream. Its proprietary technology uses porous polymer adsorbent beads that can capture and reduce levels of inflammatory mediators, drugs, toxins and other compounds without selectively removing beneficial blood components.
The company’s principal product, CytoSorb, is used in extracorporeal blood purification applications, including the management of cytokine storms and other inflammatory conditions associated with critical illness, cardiac surgery, trauma and sepsis.