Modular Medical, Inc. (NASDAQ:MODD) Short Interest Update

Modular Medical, Inc. (NASDAQ:MODD) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 379,827 shares, a decline of 22.4% from the December 15th total of 489,304 shares. Based on an average trading volume of 454,085 shares, the short-interest ratio is presently 0.8 days. Approximately 0.5% of the shares of the company are sold short. Approximately 0.5% of the shares of the company are sold short. Based on an average trading volume of 454,085 shares, the short-interest ratio is presently 0.8 days.

Modular Medical Stock Down 0.2%

Modular Medical stock traded down $0.00 during mid-day trading on Tuesday, reaching $0.47. 119,415 shares of the company’s stock traded hands, compared to its average volume of 279,743. The company has a market cap of $36.81 million, a price-to-earnings ratio of -0.93 and a beta of 0.16. The stock has a 50 day moving average of $0.42 and a two-hundred day moving average of $0.59. Modular Medical has a 12-month low of $0.28 and a 12-month high of $1.35.

Modular Medical (NASDAQ:MODD) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.04).

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Modular Medical in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Trading of Modular Medical

Several large investors have recently bought and sold shares of the stock. Warberg Asset Management LLC purchased a new stake in shares of Modular Medical in the 3rd quarter valued at $31,000. Perritt Capital Management Inc raised its stake in Modular Medical by 34.2% during the 3rd quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock worth $59,000 after acquiring an additional 21,675 shares in the last quarter. Finally, Sio Capital Management LLC lifted its holdings in shares of Modular Medical by 211.8% in the 2nd quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock valued at $585,000 after purchasing an additional 533,834 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.