Short Interest in SeaStar Medical Holding Corporation (NASDAQ:ICU) Drops By 36.7%

SeaStar Medical Holding Corporation (NASDAQ:ICU) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 81,907 shares, a decrease of 36.7% from the June 15th total of 129,310 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average trading volume of 74,907 shares, the short-interest ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

ICU has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SeaStar Medical in a report on Tuesday, April 21st. Wall Street Zen cut shares of SeaStar Medical from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Maxim Group set a $8.00 target price on shares of SeaStar Medical and gave the company a “buy” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, SeaStar Medical presently has a consensus rating of “Hold” and a consensus target price of $8.00.

Institutional Trading of SeaStar Medical

A number of institutional investors have recently made changes to their positions in ICU. Millennium Management LLC bought a new stake in SeaStar Medical in the 3rd quarter worth $102,000. Jane Street Group LLC bought a new position in SeaStar Medical in the fourth quarter worth $30,000. Finally, XTX Topco Ltd increased its stake in shares of SeaStar Medical by 395.4% in 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. Hedge funds and other institutional investors own 1.69% of the company’s stock.

SeaStar Medical Stock Down 2.0%

Shares of SeaStar Medical stock traded down $0.09 during trading on Friday, hitting $4.13. 51,673 shares of the stock traded hands, compared to its average volume of 124,837. The stock has a market cap of $16.54 million, a price-to-earnings ratio of -0.86 and a beta of -1.05. SeaStar Medical has a 52 week low of $2.07 and a 52 week high of $12.50. The firm’s fifty day moving average is $3.83 and its 200-day moving average is $3.26.

SeaStar Medical (NASDAQ:ICU) last issued its earnings results on Wednesday, May 13th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.08). The firm had revenue of $0.49 million during the quarter, compared to analysts’ expectations of $0.44 million. SeaStar Medical had a negative return on equity of 146.29% and a negative net margin of 828.62%. On average, analysts forecast that SeaStar Medical will post -3.58 earnings per share for the current fiscal year.

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.