Modular Medical (NASDAQ:MODD) Shares Down 1% – Time to Sell?

Modular Medical, Inc. (NASDAQ:MODD) was down 1% on Thursday . The stock traded as low as $3.94 and last traded at $4.06. 23,079 shares were traded during trading, a decline of 82% from the average daily volume of 128,888 shares. The stock had previously closed at $4.10.

Wall Street Analyst Weigh In

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

Modular Medical Price Performance

The stock’s 50 day simple moving average is $4.40 and its two-hundred day simple moving average is $7.73. The firm has a market cap of $21.59 million, a P/E ratio of -0.27 and a beta of 0.32.

Hedge Funds Weigh In On Modular Medical

Several institutional investors and hedge funds have recently modified their holdings of MODD. Perritt Capital Management Inc raised its position 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 purchasing an additional 21,675 shares during the last quarter. Jane Street Group LLC grew its position in Modular Medical by 446.8% during the 4th quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock valued at $60,000 after purchasing an additional 133,969 shares during the last quarter. Bleichroeder LP increased its stake in Modular Medical by 41.9% during the 4th 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, 683 Capital Management LLC raised its holdings in Modular Medical by 79.4% in the fourth quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock worth $642,000 after buying an additional 780,000 shares during the last quarter. 27.47% of the stock is currently owned by institutional investors.

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.