FocalTherics (NASDAQ:FOCL – Get Free Report) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 134,939 shares, a growth of 140.7% from the May 31st total of 56,059 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 40,322 shares, the days-to-cover ratio is presently 3.3 days.
Insider Activity
In related news, Director Joshua Levine acquired 10,000 shares of FocalTherics stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $4.22 per share, with a total value of $42,200.00. Following the transaction, the director directly owned 35,000 shares in the company, valued at approximately $147,700. This represents a 40.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 10.10% of the company’s stock.
Institutional Investors Weigh In On FocalTherics
Hedge funds have recently made changes to their positions in the stock. Rock Springs Capital Management LP increased its position in shares of FocalTherics by 7.1% during the first quarter. Rock Springs Capital Management LP now owns 1,378,000 shares of the company’s stock worth $5,126,000 after purchasing an additional 91,500 shares in the last quarter. Lido Advisors LLC purchased a new position in shares of FocalTherics in the 1st quarter valued at approximately $40,000. SmartHarvest Portfolios LLC purchased a new position in shares of FocalTherics in the 1st quarter valued at approximately $38,000. Flax Pond Capital LLC acquired a new stake in FocalTherics in the 4th quarter worth approximately $2,623,000. Finally, Kovack Advisors Inc. acquired a new position in FocalTherics during the 4th quarter valued at approximately $53,000. 62.74% of the stock is currently owned by hedge funds and other institutional investors.
FocalTherics Stock Up 1.0%
FocalTherics (NASDAQ:FOCL – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). FocalTherics had a negative net margin of 41.47% and a negative return on equity of 137.61%. The company had revenue of $20.48 million for the quarter, compared to the consensus estimate of $19.46 million. Equities research analysts expect that FocalTherics will post -0.78 earnings per share for the current year.
Wall Street Analyst Weigh In
FOCL has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of FocalTherics in a research report on Tuesday, June 2nd. Wall Street Zen downgraded shares of FocalTherics from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.00.
Read Our Latest Analysis on FOCL
About FocalTherics
EDAP TMS SA, together with its subsidiaries, develops, produces, markets, distributes, and maintains a portfolio of minimally invasive medical devices for the treatment of urological diseases in Asia, France, the United States, and internationally. It operates in three segments: High Intensity Focused Ultrasound (HIFU), Extracorporeal ShockWave Lithotripsy (ESWL), and Distribution Services (DIST). The HIFU segment develops, manufactures, and markets medical devices based on HIFU technology for the minimally invasive treatment of urological and other clinical indications.
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