Modular Medical (NASDAQ:MODD) Stock Rating Lowered by Wall Street Zen

Modular Medical (NASDAQ:MODD) was downgraded by investment analysts at Wall Street Zen to a “strong sell” rating in a note issued to investors on Saturday.

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

Modular Medical Stock Performance

Shares of MODD opened at $2.49 on Friday. The firm has a market cap of $14.89 million, a P/E ratio of -0.17 and a beta of 0.37. Modular Medical has a twelve month low of $1.74 and a twelve month high of $30.00. The firm’s 50 day moving average price is $3.60 and its two-hundred day moving average price is $5.90.

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

Institutional Investors Weigh In On Modular Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in MODD. Perritt Capital Management Inc boosted 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 buying an additional 21,675 shares during the last quarter. Jane Street Group LLC raised 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 worth $60,000 after acquiring an additional 133,969 shares in the last quarter. 683 Capital Management LLC boosted its position in Modular Medical by 79.4% during the fourth quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock valued at $642,000 after purchasing an additional 780,000 shares during the last quarter. Bleichroeder LP grew its stake in 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 purchasing an additional 845,000 shares in the last quarter. Finally, AWM Investment Company Inc. increased its position in shares of Modular Medical by 20.3% during the 2nd quarter. AWM Investment Company Inc. now owns 441,095 shares of the company’s stock worth $1,985,000 after purchasing an additional 74,429 shares during the last quarter. 27.47% of the stock is owned by 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.