Modular Medical (NASDAQ:MODD) Stock Price Up 8.4% – Time to Buy?

Modular Medical, Inc. (NASDAQ:MODD)’s share price was up 8.4% on Friday . The company traded as high as $2.21 and last traded at $2.20. Approximately 136,987 shares traded hands during trading, a decline of 24% from the average daily volume of 181,064 shares. The stock had previously closed at $2.03.

Analyst Ratings Changes

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

Modular Medical Stock Up 8.4%

The stock has a market capitalization of $13.16 million, a P/E ratio of -0.15 and a beta of 0.37. The firm’s 50 day simple moving average is $3.87 and its two-hundred day simple moving average is $6.37.

Institutional Trading of Modular Medical

Large investors have recently made changes to their positions in the company. Perritt Capital Management Inc raised its stake in 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 period. Jane Street Group LLC boosted its holdings in Modular Medical by 446.8% in 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. 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 acquiring an additional 845,000 shares during the period. Finally, 683 Capital Management LLC grew its stake 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 valued at $642,000 after acquiring an additional 780,000 shares during the period. 27.47% of the stock is currently owned by institutional investors and hedge funds.

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.