Modular Medical, Inc. (NASDAQ:MODD – Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 462,375 shares, a growth of 145.3% from the July 30th total of 188,517 shares. Approximately 6.1% of the company’s shares are sold short. Based on an average daily trading volume, of 351,241 shares, the days-to-cover ratio is presently 1.3 days.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Wall Street Zen upgraded Modular Medical from a “strong sell” rating to a “sell” rating in a report on Sunday, August 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Modular Medical in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.
Read Our Latest Analysis on MODD
Modular Medical Stock Performance
Modular Medical (NASDAQ:MODD – Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($1.19) earnings per share (EPS) for the quarter.
Hedge Funds Weigh In On Modular Medical
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Perritt Capital Management Inc grew its position in shares of Modular Medical by 34.2% during the third quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock worth $59,000 after buying an additional 21,675 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Modular Medical by 446.8% during the fourth quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock worth $60,000 after buying an additional 133,969 shares during the period. Bleichroeder LP raised its holdings 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 acquiring an additional 845,000 shares in the last quarter. 683 Capital Management LLC raised its holdings in Modular Medical by 79.4% in the fourth quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock valued at $642,000 after acquiring an additional 780,000 shares in the last quarter. Finally, AWM Investment Company Inc. lifted its stake in Modular Medical by 20.3% in the second quarter. AWM Investment Company Inc. now owns 441,095 shares of the company’s stock worth $1,985,000 after acquiring an additional 74,429 shares during the last quarter. Hedge funds and other institutional investors own 27.47% of the company’s stock.
Modular Medical Company Profile
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.
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