Apollo Endosurgery Inc (NASDAQ:APEN) Sees Significant Growth in Short Interest

Apollo Endosurgery Inc (NASDAQ:APEN) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 170,500 shares, a growth of 6.7% from the December 15th total of 159,800 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 14,600 shares, the short-interest ratio is presently 11.7 days.

Several research analysts recently issued reports on APEN shares. Zacks Investment Research lowered shares of Apollo Endosurgery from a “buy” rating to a “hold” rating in a research report on Tuesday, December 31st. ValuEngine cut shares of Apollo Endosurgery from a “buy” rating to a “hold” rating in a research note on Tuesday.

Apollo Endosurgery stock traded down $0.01 during trading hours on Thursday, hitting $2.85. 18,405 shares of the stock were exchanged, compared to its average volume of 10,191. The company has a debt-to-equity ratio of 5.31, a quick ratio of 2.33 and a current ratio of 2.86. The stock has a market capitalization of $60.32 million, a P/E ratio of -1.48 and a beta of 0.77. Apollo Endosurgery has a 12 month low of $2.50 and a 12 month high of $4.10. The business’s 50-day moving average is $2.85 and its two-hundred day moving average is $3.04.

Apollo Endosurgery (NASDAQ:APEN) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.40) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.02. Apollo Endosurgery had a negative net margin of 71.59% and a negative return on equity of 176.86%. The firm had revenue of $11.26 million for the quarter, compared to analysts’ expectations of $13.37 million. On average, equities analysts predict that Apollo Endosurgery will post -1.53 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Apollo Endosurgery stock. BlackRock Inc. increased its stake in shares of Apollo Endosurgery Inc (NASDAQ:APEN) by 42.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,737 shares of the biotechnology company’s stock after purchasing an additional 11,229 shares during the quarter. BlackRock Inc. owned about 0.17% of Apollo Endosurgery worth $122,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 39.03% of the company’s stock.

Apollo Endosurgery Company Profile

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices. Its products include OverStitch and OverStitch Sx Endoscopic Suturing System that enables advanced endoscopic procedures by allowing physicians to place full thickness sutures and secure the approximation of tissue through a flexible endoscope; Orbera365 Managed Weight Loss System; and the BIB for the treatment of overweight and obese adults.

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