SeaStar Medical Holding Corporation (NASDAQ:ICU) Sees Significant Decline in Short Interest

SeaStar Medical Holding Corporation (NASDAQ:ICU) was the target of a large drop in short interest in January. As of January 15th, there was short interest totaling 136,473 shares, a drop of 86.3% from the December 31st total of 996,651 shares. Approximately 3.6% of the shares of the stock are short sold. Based on an average trading volume of 182,374 shares, the days-to-cover ratio is presently 0.7 days. Based on an average trading volume of 182,374 shares, the days-to-cover ratio is presently 0.7 days. Approximately 3.6% of the shares of the stock are short sold.

SeaStar Medical Price Performance

SeaStar Medical stock traded down $0.01 during trading hours on Tuesday, hitting $2.47. The company had a trading volume of 106,400 shares, compared to its average volume of 131,677. SeaStar Medical has a fifty-two week low of $2.20 and a fifty-two week high of $30.70. The firm has a market capitalization of $9.36 million, a P/E ratio of -0.15 and a beta of -1.00. The firm’s fifty day moving average is $2.80 and its 200-day moving average is $5.56.

SeaStar Medical (NASDAQ:ICU) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($1.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.50) by $0.20. The business had revenue of $0.18 million for the quarter, compared to the consensus estimate of $0.25 million. SeaStar Medical had a negative net margin of 1,551.08% and a negative return on equity of 414.50%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of SeaStar Medical in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of SeaStar Medical to a “hold” rating in a research report on Saturday, January 10th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, SeaStar Medical currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Trinity Financial Advisors LLC lifted its stake in shares of SeaStar Medical by 233.3% in the 3rd quarter. Trinity Financial Advisors LLC now owns 50,000 shares of the company’s stock valued at $28,000 after purchasing an additional 35,000 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of SeaStar Medical by 395.4% during the 2nd quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock worth $26,000 after acquiring an additional 48,674 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of SeaStar Medical during the 3rd quarter valued at about $102,000. Institutional investors and hedge funds own 1.69% of the company’s stock.

SeaStar Medical Company Profile

SeaStar Medical, Inc (NASDAQ: ICU) is a medical device company focused on the development and commercialization of cerebral embolic protection systems for patients undergoing transcatheter aortic valve replacement (TAVR) procedures. The company’s mission is to reduce the risk of stroke and other neurologic events associated with structural heart interventions by capturing or deflecting embolic debris that can travel to the brain during catheter-based therapies.

The company’s flagship product, TriGUARD® 3, is a next-generation embolic deflection device designed to provide coverage of all three cerebral vessels during TAVR.