Modular Medical (NASDAQ:MODD) Issues Earnings Results

Modular Medical (NASDAQ:MODD) issued its quarterly earnings results on Friday. The company reported ($1.19) EPS for the quarter, Zacks reports.

Modular Medical Stock Performance

Shares of MODD traded up $0.62 during trading hours on Friday, reaching $2.49. 145,974 shares of the company traded hands, compared to its average volume of 277,620. The stock’s fifty day moving average is $3.60 and its 200 day moving average is $5.95. Modular Medical has a 1-year low of $1.74 and a 1-year high of $30.00. The stock has a market cap of $14.89 million, a P/E ratio of -0.17 and a beta of 0.37.

Hedge Funds Weigh In On Modular Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Perritt Capital Management Inc raised its holdings in Modular Medical by 34.2% in the 3rd quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock valued at $59,000 after acquiring an additional 21,675 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Modular Medical by 446.8% during the 4th quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock worth $60,000 after purchasing an additional 133,969 shares in the last quarter. 683 Capital Management LLC grew its holdings in shares of Modular Medical by 79.4% during the 4th quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock worth $642,000 after purchasing an additional 780,000 shares in the last quarter. Finally, Bleichroeder LP increased its position in shares of Modular Medical by 41.9% during the fourth quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock valued at $1,041,000 after purchasing an additional 845,000 shares during the period. 27.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Modular Medical in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company 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.