Paragon 28, Inc. (NYSE:FNA) Short Interest Down 17.1% in March

Paragon 28, Inc. (NYSE:FNA) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,070,000 shares, a drop of 17.1% from the March 15th total of 1,290,000 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average daily trading volume, of 1,830,000 shares, the days-to-cover ratio is presently 0.6 days.

Paragon 28 Price Performance

Shares of NYSE FNA traded up $0.02 during trading on Monday, hitting $13.11. 19,380,085 shares of the company were exchanged, compared to its average volume of 1,067,929. The firm’s fifty day moving average price is $13.03 and its 200 day moving average price is $10.62. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -17.71 and a beta of 1.47. Paragon 28 has a 1 year low of $4.65 and a 1 year high of $13.13. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60.

Paragon 28 (NYSE:FNA) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $71.75 million for the quarter, compared to analyst estimates of $70.81 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. On average, sell-side analysts expect that Paragon 28 will post -0.64 earnings per share for the current fiscal year.

Insider Activity at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 27,142 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $11.62, for a total transaction of $315,390.04. Following the completion of the sale, the insider now directly owns 10,313,841 shares of the company’s stock, valued at approximately $119,846,832.42. This represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 1,875,984 shares of company stock valued at $24,359,971 over the last ninety days. 15.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Paragon 28

A number of large investors have recently bought and sold shares of FNA. FNY Investment Advisers LLC acquired a new stake in shares of Paragon 28 in the first quarter worth about $165,000. SG Americas Securities LLC boosted its position in Paragon 28 by 75.9% during the first quarter. SG Americas Securities LLC now owns 47,048 shares of the company’s stock worth $614,000 after purchasing an additional 20,294 shares during the period. Rhumbline Advisers grew its holdings in Paragon 28 by 6.6% during the first quarter. Rhumbline Advisers now owns 66,982 shares of the company’s stock valued at $875,000 after purchasing an additional 4,121 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Paragon 28 by 1,368.4% in the first quarter. GAMMA Investing LLC now owns 5,668 shares of the company’s stock valued at $74,000 after purchasing an additional 5,282 shares during the period. Finally, AlphaCore Capital LLC acquired a new stake in shares of Paragon 28 in the fourth quarter worth $175,000. 63.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. William Blair cut Paragon 28 from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Canaccord Genuity Group set a $13.00 target price on shares of Paragon 28 in a research report on Wednesday, January 29th. Needham & Company LLC reissued a “hold” rating and issued a $13.00 target price on shares of Paragon 28 in a research report on Wednesday, January 29th. Finally, Stephens reaffirmed an “equal weight” rating and set a $13.00 price target (down previously from $14.00) on shares of Paragon 28 in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.20.

Paragon 28 Company Profile

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.