Modular Medical Stock to Reverse Split on Tuesday, March 31st (NASDAQ:MODD)
by Sarita Garza · The Markets DailyModular Medical, Inc. (NASDAQ:MODD – Free Report)’s stock is going to reverse split on Tuesday, March 31st. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, March 30th.
Modular Medical Trading Down 9.8%
Shares of NASDAQ:MODD traded down $0.02 during midday trading on Friday, reaching $0.16. 2,669,315 shares of the company were exchanged, compared to its average volume of 2,068,341. Modular Medical has a fifty-two week low of $0.12 and a fifty-two week high of $1.16. The stock has a fifty day simple moving average of $0.35 and a two-hundred day simple moving average of $0.46.
Modular Medical (NASDAQ:MODD – Get Free Report) last announced its earnings results on Tuesday, February 17th. The company reported ($0.11) earnings per share for the quarter.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Modular Medical in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.
Check Out Our Latest Stock Analysis on MODD
Institutional Trading of Modular Medical
A number of institutional investors have recently made changes to their positions in the business. 683 Capital Management LLC boosted its holdings in Modular Medical by 79.4% during the fourth quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock worth $642,000 after purchasing an additional 780,000 shares during the last quarter. Bleichroeder LP grew its position in Modular Medical by 41.9% in the fourth quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock valued at $1,041,000 after purchasing an additional 845,000 shares in the last quarter. Jane Street Group LLC increased its stake in Modular Medical by 446.8% in the 4th quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock valued at $60,000 after buying an additional 133,969 shares during the last quarter. Perritt Capital Management Inc increased its stake in Modular Medical by 34.2% in the 3rd 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 last quarter. Finally, Warberg Asset Management LLC bought a new stake in Modular Medical during the 3rd quarter worth about $31,000. Institutional investors own 27.47% of the company’s stock.
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.