Pro-Dex, Inc. (NASDAQ:PDEX) Sees Significant Decrease in Short Interest

by · The Cerbat Gem

Pro-Dex, Inc. (NASDAQ:PDEX – Get Free Report) was the recipient of a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 4,900 shares, a drop of 26.9% from the May 31st total of 6,700 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 6,700 shares, the short-interest ratio is currently 0.7 days.

Insiders Place Their Bets

In other news, Director Angelita Rebamontan Domingo sold 2,585 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $18.30, for a total value of $47,305.50. Following the completion of the transaction, the director now owns 8,191 shares of the company’s stock, valued at $149,895.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 42.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pro-Dex

A hedge fund recently raised its stake in Pro-Dex stock. Perritt Capital Management Inc. lifted its position in shares of Pro-Dex, Inc. (NASDAQ:PDEX – Free Report) by 43.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,000 shares of the medical instruments supplier’s stock after acquiring an additional 1,813 shares during the quarter. Perritt Capital Management Inc. owned approximately 0.18% of Pro-Dex worth $106,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 15.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Pro-Dex from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 5th.

View Our Latest Research Report on PDEX

Pro-Dex Stock Up 3.9 %

Shares of PDEX traded up $0.74 during midday trading on Friday, reaching $19.64. 6,234 shares of the stock were exchanged, compared to its average volume of 4,495. Pro-Dex has a 12-month low of $14.51 and a 12-month high of $22.99. The company has a market cap of $67.17 million, a price-to-earnings ratio of 33.86 and a beta of 0.41. The firm has a 50 day simple moving average of $19.09 and a 200-day simple moving average of $18.68. The company has a quick ratio of 2.08, a current ratio of 3.45 and a debt-to-equity ratio of 0.25.

Pro-Dex (NASDAQ:PDEX – Get Free Report) last posted its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.19 EPS for the quarter. The business had revenue of $14.29 million during the quarter. Pro-Dex had a return on equity of 6.50% and a net margin of 4.13%.

About Pro-Dex

(Get Free Report)

Pro-Dex, Inc designs, develops, manufactures, and sells powered surgical instruments for medical device original equipment manufacturers worldwide. The company offers autoclavable, battery-powered and electric, and multi-function surgical drivers and shavers that are primarily used in the orthopedic, thoracic, and craniomaxillofacial markets.

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