SS Innovations International (NASDAQ:SSII) Shares Gap Down – Here’s What Happened

SS Innovations International, Inc. (NASDAQ:SSII)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $4.85, but opened at $4.57. SS Innovations International shares last traded at $4.6550, with a volume of 1,054 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SS Innovations International in a research report on Tuesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

SS Innovations International Trading Down 2.8%

The stock has a market cap of $895.03 million and a PE ratio of -74.50. The business has a 50-day moving average price of $4.73 and a 200-day moving average price of $5.71.

SS Innovations International (NASDAQ:SSII) last issued its quarterly earnings results on Tuesday, March 10th. The company reported ($0.01) EPS for the quarter. SS Innovations International had a negative return on equity of 30.23% and a negative net margin of 28.54%.The firm had revenue of $14.53 million for the quarter.

Insider Buying and Selling

In related news, CEO Srivastava Sudhir acquired 498,753 shares of SS Innovations International stock in a transaction that occurred on Friday, March 6th. The shares were purchased at an average price of $4.01 per share, for a total transaction of $1,999,999.53. Following the completion of the transaction, the chief executive officer owned 109,851,767 shares in the company, valued at $440,505,585.67. This represents a 0.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frederic H. Moll acquired 501,253 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $3.99 per share, with a total value of $1,999,999.47. Following the completion of the transaction, the director directly owned 10,775,485 shares of the company’s stock, valued at $42,994,185.15. This trade represents a 4.88% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 1,300,006 shares of company stock worth $5,196,999.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in SS Innovations International by 58.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,627 shares of the company’s stock valued at $77,000 after purchasing an additional 5,000 shares during the period. IFC & Insurance Marketing Inc. lifted its stake in SS Innovations International by 47.7% in the first quarter. IFC & Insurance Marketing Inc. now owns 16,730 shares of the company’s stock worth $84,000 after acquiring an additional 5,400 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of SS Innovations International by 9.3% in the 4th quarter. Handelsbanken Fonder AB now owns 120,000 shares of the company’s stock valued at $682,000 after purchasing an additional 10,198 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of SS Innovations International in the 3rd quarter valued at $71,000. Finally, Jane Street Group LLC acquired a new position in shares of SS Innovations International during the fourth quarter worth $63,000.

About SS Innovations International

AVRA Medical Robotics, Inc develops and manufactures medical surgical devices. The company has a research agreement with the University of Central Florida to develop navigation and control technologies with applications in medical robotics. The company was formerly known as AVRA Surgical Microsystems, Inc and changed its name to AVRA Medical Robotics, Inc in November 2015. AVRA Medical Robotics, Inc was founded in 2015 and is based in Orlando, Florida.