AtriCure, Inc. (NASDAQ:ATRC) Sees Significant Growth in Short Interest

AtriCure, Inc. (NASDAQ:ATRC) was the target of a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 3,447,589 shares, an increase of 37.3% from the January 29th total of 2,510,177 shares. Approximately 7.2% of the company’s shares are short sold. Based on an average trading volume of 922,761 shares, the short-interest ratio is presently 3.7 days. Based on an average trading volume of 922,761 shares, the short-interest ratio is presently 3.7 days. Approximately 7.2% of the company’s shares are short sold.

AtriCure Stock Performance

Shares of AtriCure stock opened at $31.46 on Wednesday. The firm has a market cap of $1.57 billion, a PE ratio of -131.08 and a beta of 1.42. AtriCure has a 1 year low of $28.29 and a 1 year high of $43.18. The firm’s 50-day simple moving average is $36.88 and its 200-day simple moving average is $36.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.99 and a current ratio of 3.96.

AtriCure (NASDAQ:ATRC) last announced its quarterly earnings results on Tuesday, February 17th. The medical device company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.10. AtriCure had a negative return on equity of 1.15% and a negative net margin of 2.14%.The business had revenue of $140.50 million for the quarter, compared to analysts’ expectations of $140.50 million. During the same period in the prior year, the firm earned ($0.33) EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. Equities analysts forecast that AtriCure will post -0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of AtriCure in a report on Wednesday, January 21st. Zacks Research downgraded AtriCure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Canaccord Genuity Group dropped their target price on AtriCure from $64.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Citigroup restated an “outperform” rating on shares of AtriCure in a research note on Wednesday, February 18th. Finally, Wall Street Zen raised shares of AtriCure from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.43.

Hedge Funds Weigh In On AtriCure

Several institutional investors and hedge funds have recently bought and sold shares of ATRC. Marshall Wace LLP lifted its position in shares of AtriCure by 63.4% in the fourth quarter. Marshall Wace LLP now owns 913,453 shares of the medical device company’s stock worth $36,136,000 after purchasing an additional 354,281 shares in the last quarter. Wellington Management Group LLP lifted its position in AtriCure by 8.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,292,087 shares of the medical device company’s stock worth $151,296,000 after buying an additional 322,818 shares in the last quarter. First Light Asset Management LLC lifted its position in AtriCure by 32.0% in the 4th quarter. First Light Asset Management LLC now owns 1,175,445 shares of the medical device company’s stock worth $46,501,000 after buying an additional 285,083 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in shares of AtriCure by 36.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 836,916 shares of the medical device company’s stock valued at $29,501,000 after acquiring an additional 222,529 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of AtriCure in the fourth quarter worth $8,466,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

AtriCure Company Profile

AtriCure, Inc is a medical device company focused on the development, manufacture and marketing of innovative therapies to treat atrial fibrillation (AF) and related conditions. Founded in 2000 and headquartered in Mason, Ohio, AtriCure has established itself as a leader in surgical ablation devices designed to interrupt the errant electrical pathways that cause AF. The company’s solutions are used by cardiac surgeons and electrophysiologists to reduce the risk of stroke and improve patient outcomes in the treatment of both paroxysmal and persistent AF.

The company’s product portfolio centers on its Synergy Surgical Ablation System, which delivers controlled radiofrequency energy in a minimally invasive format, and the cryoICE Cryoablation System, which offers an alternative ablation modality using precise freezing techniques.