Modular Medical, Inc. (NASDAQ:MODD) Short Interest Up 29.8% in December

Modular Medical, Inc. (NASDAQ:MODD) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 489,304 shares, an increase of 29.8% from the November 30th total of 376,896 shares. Based on an average trading volume of 716,209 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.0% of the shares of the company are sold short. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 716,209 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Warberg Asset Management LLC bought a new stake in Modular Medical during the third quarter worth $31,000. Perritt Capital Management Inc raised its holdings in shares of 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 buying an additional 21,675 shares in the last quarter. Sio Capital Management LLC raised its holdings in shares of Modular Medical by 211.8% during the 2nd quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock worth $585,000 after buying an additional 533,834 shares in the last quarter. AWM Investment Company Inc. lifted its position in shares of Modular Medical by 12.8% during the 1st quarter. AWM Investment Company Inc. now owns 1,033,732 shares of the company’s stock worth $1,127,000 after buying an additional 117,066 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in Modular Medical by 156.3% in the first quarter. Alyeska Investment Group L.P. now owns 1,708,332 shares of the company’s stock valued at $1,862,000 after buying an additional 1,041,666 shares in the last quarter. 27.47% of the stock is currently owned by institutional investors and hedge funds.

Modular Medical Stock Up 0.6%

Shares of MODD traded up $0.00 during trading hours on Thursday, hitting $0.36. 289,058 shares of the company were exchanged, compared to its average volume of 583,739. Modular Medical has a fifty-two week low of $0.28 and a fifty-two week high of $1.49. The company has a market cap of $23.19 million, a price-to-earnings ratio of -0.71 and a beta of 0.16. The firm’s fifty day moving average is $0.44 and its 200 day moving average is $0.62.

Modular Medical (NASDAQ:MODD) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.14) earnings per share 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 report on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

About Modular Medical

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.