Short Interest in GlucoTrack, Inc. (NASDAQ:GCTK) Decreases By 93.5%

GlucoTrack, Inc. (NASDAQ:GCTK) was the recipient of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 165,864 shares, a drop of 93.5% from the July 30th total of 2,555,155 shares. Based on an average daily trading volume, of 7,214,843 shares, the short-interest ratio is presently 0.0 days. Approximately 2.3% of the company’s shares are short sold.

Institutional Trading of GlucoTrack

Several large investors have recently added to or reduced their stakes in GCTK. Ikarian Capital LLC bought a new position in shares of GlucoTrack in the fourth quarter worth $177,000. Boothbay Fund Management LLC acquired a new stake in GlucoTrack in the fourth quarter worth about $52,000. Finally, Bank of America Corp DE grew its position in GlucoTrack by 102,125.0% in the 2nd quarter. Bank of America Corp DE now owns 4,089 shares of the company’s stock valued at $25,000 after buying an additional 4,085 shares in the last quarter. 10.92% of the stock is currently owned by institutional investors and hedge funds.

GlucoTrack Stock Down 10.9%

Shares of GlucoTrack stock traded down $0.03 during trading hours on Thursday, hitting $0.29. 1,667,953 shares of the company’s stock traded hands, compared to its average volume of 6,231,689. GlucoTrack has a twelve month low of $0.25 and a twelve month high of $14.14. The stock has a 50 day simple moving average of $0.39 and a 200-day simple moving average of $0.76. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.21 million, a PE ratio of -0.03 and a beta of 0.70.

GlucoTrack (NASDAQ:GCTK) last announced its earnings results on Friday, August 14th. The company reported $0.76 earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of GlucoTrack from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “sell (e+)” rating on shares of GlucoTrack in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

About GlucoTrack

GlucoTrack, Inc, a medical device company, focused on the design, development, and commercialization of novel technologies for people with diabetes in the United States. It develops GlucoTrack, a noninvasive glucose monitoring device that helps people with diabetes and pre-diabetics to obtain blood glucose level readings without the pain. The company was formerly known as Integrity Applications, Inc and changed its name to GlucoTrack, Inc in November 2021. GlucoTrack, Inc was founded in 2001 and is based in Rutherford, New Jersey.