Short Interest in SeaStar Medical Holding Corporation (NASDAQ:ICU) Decreases By 67.1%

SeaStar Medical Holding Corporation (NASDAQ:ICU) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totaling 1,010,331 shares, a decline of 67.1% from the November 30th total of 3,074,030 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 1,603,318 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily trading volume, of 1,603,318 shares, the days-to-cover ratio is currently 0.6 days. Currently, 2.8% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of SeaStar Medical in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ICU. XTX Topco Ltd boosted its holdings in SeaStar Medical by 395.4% during the second quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock valued at $26,000 after acquiring an additional 48,674 shares during the period. Trinity Financial Advisors LLC increased its stake in shares of SeaStar Medical by 233.3% in the third quarter. Trinity Financial Advisors LLC now owns 50,000 shares of the company’s stock worth $28,000 after purchasing an additional 35,000 shares during the period. Millennium Management LLC acquired a new position in shares of SeaStar Medical during the 3rd quarter worth about $102,000. Finally, Armistice Capital LLC bought a new stake in SeaStar Medical during the 1st quarter valued at approximately $1,018,000. Institutional investors and hedge funds own 1.69% of the company’s stock.

SeaStar Medical Trading Up 5.8%

SeaStar Medical stock traded up $0.01 during mid-day trading on Friday, hitting $0.26. 1,728,107 shares of the company’s stock were exchanged, compared to its average volume of 2,879,801. SeaStar Medical has a 1-year low of $0.22 and a 1-year high of $3.07. The stock has a 50 day moving average of $0.41 and a two-hundred day moving average of $0.64. The stock has a market cap of $9.23 million, a P/E ratio of -0.16 and a beta of -1.03.

Shares of SeaStar Medical are set to reverse split before the market opens on Friday, January 2nd. The 1-10 reverse split was announced on Thursday, December 18th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, December 31st.

SeaStar Medical (NASDAQ:ICU) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. SeaStar Medical had a negative return on equity of 414.50% and a negative net margin of 1,551.08%.The company had revenue of $0.18 million for the quarter, compared to the consensus estimate of $0.25 million.

SeaStar Medical Company Profile

SeaStar Medical, Inc (NASDAQ: ICU) is a medical device company focused on the development and commercialization of cerebral embolic protection systems for patients undergoing transcatheter aortic valve replacement (TAVR) procedures. The company’s mission is to reduce the risk of stroke and other neurologic events associated with structural heart interventions by capturing or deflecting embolic debris that can travel to the brain during catheter-based therapies.

The company’s flagship product, TriGUARD® 3, is a next-generation embolic deflection device designed to provide coverage of all three cerebral vessels during TAVR.