Modular Medical’s (MODD) Sell (E+) Rating Reaffirmed at Weiss Ratings

Weiss Ratings restated their sell (e+) rating on shares of Modular Medical (NASDAQ:MODD) in a research report sent to investors on Tuesday,Weiss Ratings reports.

Modular Medical Trading Down 5.8%

Modular Medical stock opened at $0.58 on Tuesday. The firm has a 50-day moving average of $0.71 and a 200-day moving average of $0.80. The firm has a market cap of $32.01 million, a P/E ratio of -1.14 and a beta of 0.17. Modular Medical has a 1-year low of $0.57 and a 1-year high of $2.37.

Modular Medical (NASDAQ:MODD) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02).

Hedge Funds Weigh In On Modular Medical

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sio Capital Management LLC increased its position in shares of Modular Medical by 211.8% during the second quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock valued at $585,000 after acquiring an additional 533,834 shares in the last quarter. AWM Investment Company Inc. increased its position in shares of Modular Medical by 12.8% during the first quarter. AWM Investment Company Inc. now owns 1,033,732 shares of the company’s stock valued at $1,127,000 after acquiring an additional 117,066 shares in the last quarter. Alyeska Investment Group L.P. grew its position in Modular Medical by 156.3% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,708,332 shares of the company’s stock worth $1,862,000 after purchasing an additional 1,041,666 shares during the period. 683 Capital Management LLC grew its position in Modular Medical by 23.8% in the 1st quarter. 683 Capital Management LLC now owns 1,980,000 shares of the company’s stock worth $2,158,000 after purchasing an additional 380,000 shares during the period. Finally, Solas Capital Management LLC grew its position in Modular Medical by 30.7% in the 1st quarter. Solas Capital Management LLC now owns 3,243,475 shares of the company’s stock worth $3,519,000 after purchasing an additional 762,380 shares during the period. Institutional investors own 27.47% of the company’s stock.

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.