ENDRA Life Sciences Inc. (NASDAQ:NDRA) Sees Large Decline in Short Interest

ENDRA Life Sciences Inc. (NASDAQ:NDRA) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 53,910 shares, a decrease of 65.2% from the February 26th total of 154,773 shares. Currently, 8.0% of the company’s stock are short sold. Based on an average trading volume of 86,029 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

Several equities analysts have issued reports on NDRA shares. Ascendiant Capital Markets lowered their target price on shares of ENDRA Life Sciences from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, December 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of ENDRA Life Sciences in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.00.

ENDRA Life Sciences Trading Down 5.2%

NDRA stock traded down $0.24 during trading on Friday, reaching $4.35. The stock had a trading volume of 63,819 shares, compared to its average volume of 73,684. ENDRA Life Sciences has a 52 week low of $2.90 and a 52 week high of $11.96. The stock’s 50 day moving average is $3.81 and its two-hundred day moving average is $4.85. The firm has a market cap of $3.26 million, a PE ratio of -0.16 and a beta of -0.08.

Institutional Trading of ENDRA Life Sciences

A hedge fund recently bought a new stake in ENDRA Life Sciences stock. Altium Capital Management LLC purchased a new position in ENDRA Life Sciences Inc. (NASDAQ:NDRA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 51,900 shares of the company’s stock, valued at approximately $235,000. ENDRA Life Sciences makes up about 0.9% of Altium Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. Altium Capital Management LLC owned 6.92% of ENDRA Life Sciences as of its most recent SEC filing. Hedge funds and other institutional investors own 1.19% of the company’s stock.

ENDRA Life Sciences Company Profile

ENDRA Life Sciences, Inc (NASDAQ: NDRA) is a medical technology company headquartered in Ann Arbor, Michigan, that focuses on the development and commercialization of Thermoacoustic Enhanced Ultrasound (TAEUS™) imaging. The company’s proprietary TAEUS platform combines conventional ultrasound with thermoacoustic signals to provide non-invasive, real-time temperature monitoring of soft tissue. This technology is designed to improve the safety, efficacy and outcomes of thermal ablation procedures and other heat-based therapies.

ENDRA’s core product line centers on a compact, easy-to-integrate device that augments existing ultrasound systems.