Xtant Medical (NYSEAMERICAN:XTNT) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Xtant Medical Holdings, Inc. (NYSEAMERICAN:XTNT) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.56 and traded as low as $0.4195. Xtant Medical shares last traded at $0.4195, with a volume of 15,119 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on XTNT shares. BTIG Research reiterated a “buy” rating and issued a $1.00 price objective on shares of Xtant Medical in a report on Wednesday, May 13th. Craig Hallum reissued a “buy” rating on shares of Xtant Medical in a report on Wednesday, March 18th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Xtant Medical currently has an average rating of “Buy” and an average price target of $1.00.

Xtant Medical Stock Performance

The company has a market cap of $58.91 million, a P/E ratio of 42.04 and a beta of -0.16. The company’s fifty day moving average is $0.46 and its 200 day moving average is $0.56. The company has a current ratio of 3.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.17.

Xtant Medical (NYSEAMERICAN:XTNT) last posted its quarterly earnings results on Wednesday, May 13th. The medical device company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $20.88 million during the quarter, compared to analyst estimates of $20.16 million. Xtant Medical had a net margin of 1.50% and a return on equity of 3.68%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in Xtant Medical during the 2nd quarter valued at $26,000. Tradition Wealth Management LLC bought a new position in shares of Xtant Medical during the fourth quarter valued at about $79,000. Wiregrass Investment Management LLC bought a new position in shares of Xtant Medical during the fourth quarter valued at about $81,000. Mink Brook Asset Management LLC boosted its holdings in shares of Xtant Medical by 125.8% during the second quarter. Mink Brook Asset Management LLC now owns 109,466 shares of the medical device company’s stock worth $81,000 after purchasing an additional 60,997 shares during the period. Finally, Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Xtant Medical during the fourth quarter worth about $220,000. 69.33% of the stock is owned by hedge funds and other institutional investors.

About Xtant Medical

Xtant Medical, Inc is a medical technology company focused on the development, manufacturing and distribution of bone graft, spine biologics and related implantable medical devices. The company’s product portfolio is designed to address critical needs in spinal fusion, orthopedics and trauma surgery by providing a range of solutions that promote bone growth, structural support and patient recovery.

The company’s offerings include an array of bone graft substitutes – such as demineralized bone matrix putties and fibers – interbody fusion devices, spinal fixation systems and biologic agents.