Modular Medical, Inc. (NASDAQ:MODD) Short Interest Down 22.4% in December

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

Institutional Trading of Modular Medical

Several hedge funds have recently bought and sold shares of the stock. Perritt Capital Management Inc lifted its stake in Modular Medical by 34.2% in the third quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock valued at $59,000 after buying an additional 21,675 shares in the last quarter. Warberg Asset Management LLC acquired a new stake in shares of Modular Medical during the third quarter worth $31,000. Finally, Sio Capital Management LLC lifted its position in 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 acquiring an additional 533,834 shares in the last quarter. 27.47% of the stock is currently owned by institutional investors and hedge funds.

Modular Medical Stock Up 0.1%

Shares of MODD traded up $0.00 during trading hours on Friday, reaching $0.48. The stock had a trading volume of 24,894 shares, compared to its average volume of 316,724. The company has a market cap of $36.90 million, a P/E ratio of -0.93 and a beta of 0.16. Modular Medical has a 52 week low of $0.28 and a 52 week high of $1.35. The firm has a 50-day moving average of $0.42 and a 200 day moving average of $0.59.

Modular Medical (NASDAQ:MODD) last posted its earnings results on Friday, November 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04).

Analysts Set New Price Targets

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

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.