GlucoTrack, Inc. (NASDAQ:GCTK) Sees Large Increase in Short Interest
by Michael Walen · The Markets DailyGlucoTrack, Inc. (NASDAQ:GCTK – Get Free Report) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 2,388,682 shares, an increase of 368.1% from the June 30th total of 510,338 shares. Approximately 31.7% of the shares of the company are sold short. Based on an average daily volume of 11,948,792 shares, the days-to-cover ratio is presently 0.2 days.
GlucoTrack Price Performance
NASDAQ:GCTK traded down $0.00 during trading hours on Monday, hitting $0.29. 89,495 shares of the stock traded hands, compared to its average volume of 3,593,743. The company has a market cap of $2.23 million, a price-to-earnings ratio of -0.02 and a beta of 0.77. GlucoTrack has a 1 year low of $0.29 and a 1 year high of $14.14. The stock has a 50 day moving average price of $0.45 and a 200 day moving average price of $1.22. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.08.
Analysts Set New Price Targets
GCTK has been the subject of a number of research reports. Wall Street Zen cut shares of GlucoTrack to a “strong sell” rating in a report on Saturday, July 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of GlucoTrack in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.
Check Out Our Latest Analysis on GlucoTrack
Hedge Funds Weigh In On GlucoTrack
A number of hedge funds have recently made changes to their positions in the business. Ikarian Capital LLC purchased a new position in GlucoTrack in the 4th quarter worth approximately $177,000. Boothbay Fund Management LLC bought a new position in GlucoTrack in the 4th quarter worth approximately $52,000. Finally, Bank of America Corp DE grew its holdings in GlucoTrack by 102,125.0% during the 2nd quarter. Bank of America Corp DE now owns 4,089 shares of the company’s stock valued at $25,000 after buying an additional 4,085 shares in the last quarter. Institutional investors own 10.92% of the company’s stock.
GlucoTrack Company Profile
GlucoTrack, Inc, a medical device company, focused on the design, development, and commercialization of novel technologies for people with diabetes in the United States. It develops GlucoTrack, a noninvasive glucose monitoring device that helps people with diabetes and pre-diabetics to obtain blood glucose level readings without the pain. The company was formerly known as Integrity Applications, Inc and changed its name to GlucoTrack, Inc in November 2021. GlucoTrack, Inc was founded in 2001 and is based in Rutherford, New Jersey.