Modular Medical, Inc. (NASDAQ:MODD) Sees Large Decrease in Short Interest

Modular Medical, Inc. (NASDAQ:MODD) was the recipient of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 284,006 shares, a decrease of 29.4% from the January 15th total of 402,098 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average trading volume of 143,181 shares, the short-interest ratio is currently 2.0 days. Based on an average trading volume of 143,181 shares, the short-interest ratio is currently 2.0 days. Approximately 0.4% of the company’s stock are short sold.

Modular Medical Price Performance

MODD traded up $0.01 during trading hours on Friday, hitting $0.45. 138,373 shares of the stock were exchanged, compared to its average volume of 165,599. The stock has a market cap of $35.22 million, a price-to-earnings ratio of -0.89 and a beta of 0.17. The stock has a 50-day simple moving average of $0.42 and a 200-day simple moving average of $0.55. Modular Medical has a 12 month low of $0.28 and a 12 month high of $1.29.

Modular Medical (NASDAQ:MODD) last released its earnings results on Friday, November 14th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.04).

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Modular Medical in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Hedge Funds Weigh In On Modular Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of MODD. Warberg Asset Management LLC bought a new stake in Modular Medical during the third quarter worth approximately $31,000. Perritt Capital Management Inc raised its stake in shares of Modular Medical by 34.2% in the 3rd quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock worth $59,000 after buying an additional 21,675 shares in the last quarter. Jane Street Group LLC boosted its stake 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 buying an additional 133,969 shares in the last quarter. Sio Capital Management LLC grew its holdings in Modular Medical by 211.8% during the second quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock worth $585,000 after acquiring an additional 533,834 shares during the period. Finally, Bleichroeder LP raised its position in Modular Medical by 41.9% in the fourth quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock worth $1,041,000 after acquiring an additional 845,000 shares in the last quarter. 27.47% of the stock is currently owned by institutional investors and hedge funds.

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.