Modular Medical (NASDAQ:MODD) Posts Earnings Results

Modular Medical (NASDAQ:MODD) posted its earnings results on Friday. The company reported ($1.19) earnings per share (EPS) for the quarter, Zacks reports.

Modular Medical Stock Performance

MODD stock traded up $0.62 during mid-day trading on Friday, hitting $2.49. 145,974 shares of the company were exchanged, compared to its average volume of 277,620. Modular Medical has a 1-year low of $1.74 and a 1-year high of $30.00. The firm’s 50 day simple moving average is $3.60 and its 200 day simple moving average is $5.95.

Institutional Investors Weigh In On Modular Medical

Large investors have recently made changes to their positions in the stock. Perritt Capital Management Inc raised its holdings in shares of Modular Medical by 34.2% during the third quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock worth $59,000 after acquiring an additional 21,675 shares during the period. Jane Street Group LLC boosted its stake in Modular Medical by 446.8% in the 4th quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock worth $60,000 after purchasing an additional 133,969 shares during the period. 683 Capital Management LLC boosted its stake in Modular Medical by 79.4% in the 4th quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock worth $642,000 after purchasing an additional 780,000 shares during the period. Finally, Bleichroeder LP boosted its stake in Modular Medical by 41.9% in the 4th quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock worth $1,041,000 after purchasing an additional 845,000 shares during the period. Institutional investors own 27.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Modular Medical in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

About Modular Medical

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.