Wall Street Zen Upgrades Modular Medical (NASDAQ:MODD) to “Sell”

Modular Medical (NASDAQ:MODD) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Sunday.

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

Modular Medical Stock Performance

Shares of NASDAQ MODD opened at $3.74 on Friday. The stock has a market cap of $30.48 million, a price-to-earnings ratio of -0.43 and a beta of 0.37. Modular Medical has a fifty-two week low of $1.72 and a fifty-two week high of $30.00. The firm’s 50-day simple moving average is $3.40 and its 200 day simple moving average is $5.46.

Modular Medical (NASDAQ:MODD) last issued its quarterly earnings data on Friday, August 14th. The company reported ($1.19) EPS for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MODD. Perritt Capital Management Inc increased its stake in shares of Modular Medical by 34.2% during the 3rd quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock worth $59,000 after purchasing an additional 21,675 shares during the last quarter. Jane Street Group LLC grew its holdings in Modular Medical by 446.8% during the fourth quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock valued at $60,000 after purchasing an additional 133,969 shares during the period. AWM Investment Company Inc. increased its position in Modular Medical by 20.3% in the second quarter. AWM Investment Company Inc. now owns 441,095 shares of the company’s stock worth $1,985,000 after buying an additional 74,429 shares during the last quarter. 683 Capital Management LLC raised its stake in shares of Modular Medical by 79.4% in the fourth quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock valued at $642,000 after buying an additional 780,000 shares during the period. Finally, Bleichroeder LP raised its stake in shares of Modular Medical by 41.9% in the fourth quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock valued at $1,041,000 after buying an additional 845,000 shares during the period. 27.47% of the stock is currently owned by hedge funds and other institutional investors.

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.