Short Interest in Carlsmed, Inc. (NASDAQ:CARL) Expands By 101.3%

Carlsmed, Inc. (NASDAQ:CARL) was the recipient of a significant growth in short interest in May. As of May 29th, there was short interest totaling 1,307,106 shares, a growth of 101.3% from the May 14th total of 649,325 shares. Based on an average daily trading volume, of 311,376 shares, the days-to-cover ratio is presently 4.2 days. Approximately 4.8% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CARL. BNP Paribas Financial Markets purchased a new position in Carlsmed in the 3rd quarter valued at $33,000. JPMorgan Chase & Co. purchased a new stake in Carlsmed in the 3rd quarter valued at about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Carlsmed in the 3rd quarter valued at about $42,000. Rhumbline Advisers acquired a new position in Carlsmed in the 3rd quarter valued at about $79,000. Finally, Wells Fargo & Company MN grew its position in Carlsmed by 61.7% in the 4th quarter. Wells Fargo & Company MN now owns 7,834 shares of the company’s stock valued at $97,000 after acquiring an additional 2,989 shares in the last quarter.

Carlsmed Stock Performance

Shares of NASDAQ CARL traded down $0.04 during midday trading on Monday, reaching $11.39. 21,967 shares of the stock were exchanged, compared to its average volume of 139,057. The firm has a 50-day simple moving average of $10.55 and a two-hundred day simple moving average of $11.85. Carlsmed has a twelve month low of $8.50 and a twelve month high of $17.19. The firm has a market cap of $309.50 million and a price-to-earnings ratio of -4.56. The company has a quick ratio of 11.67, a current ratio of 11.88 and a debt-to-equity ratio of 0.17.

Carlsmed (NASDAQ:CARL) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.11. Carlsmed had a negative net margin of 57.76% and a negative return on equity of 60.74%. The firm had revenue of $16.12 million for the quarter. As a group, analysts anticipate that Carlsmed will post -1.35 EPS for the current fiscal year.

Analyst Ratings Changes

CARL has been the topic of a number of recent research reports. Truist Financial decreased their price target on shares of Carlsmed from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Wall Street Zen cut shares of Carlsmed from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research upgraded shares of Carlsmed from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. BTIG Research reiterated a “buy” rating and set a $23.00 target price on shares of Carlsmed in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group dropped their target price on shares of Carlsmed from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $19.33.

About Carlsmed

We are a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient’s unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”).