Dextera Surgical Inc. (NASDAQ:DXTR) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 4,394,270 shares, an increase of 32.5% from the August 31st total of 3,316,626 shares. Based on an average daily volume of 2,950,308 shares, the days-to-cover ratio is presently 1.5 days. Approximately 11.1% of the shares of the company are short sold.

DXTR has been the subject of several analyst reports. Zacks Investment Research downgraded Dextera Surgical from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 12th. Wedbush reduced their target price on Dextera Surgical from $3.50 to $0.70 and set an “outperform” rating for the company in a report on Wednesday, July 12th. Finally, Ladenburg Thalmann Financial Services assumed coverage on Dextera Surgical in a research report on Wednesday, August 16th. They set a “buy” rating and a $0.80 price target on the stock.

Shares of Dextera Surgical (NASDAQ DXTR) opened at 0.2638 on Tuesday. The company’s 50-day moving average is $0.30 and its 200-day moving average is $0.45. Dextera Surgical has a 12-month low of $0.17 and a 12-month high of $2.33. The company’s market cap is $12.60 million.

Dextera Surgical (NASDAQ:DXTR) last announced its earnings results on Tuesday, August 8th. The medical instruments supplier reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.29). The company had revenue of $1.05 million during the quarter, compared to the consensus estimate of $1.03 million. Equities research analysts predict that Dextera Surgical will post ($0.24) earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Perkins Capital Management Inc. bought a new position in shares of Dextera Surgical in the second quarter worth about $100,000. Virtu KCG Holdings LLC lifted its position in shares of Dextera Surgical by 1,380.6% during the 2nd quarter. Virtu KCG Holdings LLC now owns 369,918 shares of the medical instruments supplier’s stock valued at $111,000 after buying an additional 344,933 shares in the last quarter. Finally, Broadfin Capital LLC lifted its position in shares of Dextera Surgical by 64.7% during the 2nd quarter. Broadfin Capital LLC now owns 987,520 shares of the medical instruments supplier’s stock valued at $296,000 after buying an additional 388,080 shares in the last quarter. Institutional investors and hedge funds own 6.58% of the company’s stock.

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Dextera Surgical Company Profile

Dextera Surgical Inc, formerly Cardica, Inc, designs and manufactures stapling devices that enable the advancement of minimally invasive surgical procedures. The Company is engaged in commercializing and developing its MicroCutter 5/80 stapler based on its staple-on-a-strip technology for use by thoracic, pediatric, bariatric, colorectal and general surgeons.

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