SS Innovations International (NASDAQ:SSII) Trading 3.6% Higher – What’s Next?

SS Innovations International, Inc. (NASDAQ:SSII)’s share price shot up 3.6% during trading on Thursday . The stock traded as high as $3.24 and last traded at $3.3350. 1,872 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 69,717 shares. The stock had previously closed at $3.22.

More SS Innovations International News

Here are the key news stories impacting SS Innovations International this week:

• Positive Sentiment: SS Innovations announced that its robotic technology is being used to bring robotic cardiac surgery to Sri Lanka, supporting the company’s strategy of expanding access to its SSi Mantra system in international markets. SS Innovations Brings Robotic Cardiac Surgery to Sri Lanka
• Positive Sentiment: The company reported 79% growth in SSi Mantra procedures and cited expanding installations, utilization and global reach. Higher procedure volumes could improve recurring revenue potential and validate demand for its robotic-surgery platform. SS Innovations Reports 79% Growth in SSi Mantra Procedures
• Positive Sentiment: Additional milestones include progress in pediatric robotic surgery and telesurgery, which could broaden SSII’s addressable market and strengthen its technology profile if commercial adoption follows. SS Innovations Provides Update on Continuing Progress and Milestones
• Neutral Sentiment: Reported short interest was zero shares, meaning there is no meaningful short position available to create either short-covering support or additional short-selling pressure. The company’s shares remain near their 52-week low and below both the 50-day and 200-day moving averages.
• Negative Sentiment: CEO Sudhir Srivastava sold 33,333 shares for approximately $100,000. The sale reduced his holdings by only 0.03%, but insider selling can modestly weaken investor confidence. SEC Insider Ownership Filing
• Negative Sentiment: SSII continues to report losses, including a recent quarterly loss of $0.01 per share, negative net margin and negative return on equity. Analyst coverage is also broadly bearish, with an average rating of “Sell,” despite a $7 price target from one analyst.

Analyst Ratings Changes

Several brokerages recently issued reports on SSII. Loop Capital set a $7.00 target price on SS Innovations International in a research report on Wednesday, June 3rd. Wall Street Zen raised SS Innovations International from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of SS Innovations International in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell” and a consensus target price of $7.00.

SS Innovations International Trading Up 0.3%

The business has a 50-day moving average price of $3.63 and a 200 day moving average price of $4.05. The stock has a market cap of $663.27 million, a PE ratio of -55.17 and a beta of -1.94.

SS Innovations International (NASDAQ:SSII) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.01) earnings per share for the quarter. The firm had revenue of $13.94 million during the quarter. SS Innovations International had a negative return on equity of 26.77% and a negative net margin of 23.73%.

Insider Activity

In other news, CEO Srivastava Sudhir sold 33,333 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $3.00, for a total value of $99,999.00. Following the sale, the chief executive officer owned 108,520,928 shares of the company’s stock, valued at $325,562,784. The trade was a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On SS Innovations International

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its position in shares of SS Innovations International by 58.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,627 shares of the company’s stock worth $77,000 after acquiring an additional 5,000 shares in the last quarter. IFC & Insurance Marketing Inc. grew its position in shares of SS Innovations International by 47.7% in the first quarter. IFC & Insurance Marketing Inc. now owns 16,730 shares of the company’s stock valued at $84,000 after purchasing an additional 5,400 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of SS Innovations International by 9.3% during the 4th quarter. Handelsbanken Fonder AB now owns 120,000 shares of the company’s stock valued at $682,000 after purchasing an additional 10,198 shares during the period. Envestnet Asset Management Inc. purchased a new stake in SS Innovations International during the 3rd quarter worth about $71,000. Finally, Jane Street Group LLC purchased a new stake in SS Innovations International during the 4th quarter worth about $63,000.

About SS Innovations International

AVRA Medical Robotics, Inc develops and manufactures medical surgical devices. The company has a research agreement with the University of Central Florida to develop navigation and control technologies with applications in medical robotics. The company was formerly known as AVRA Surgical Microsystems, Inc and changed its name to AVRA Medical Robotics, Inc in November 2015. AVRA Medical Robotics, Inc was founded in 2015 and is based in Orlando, Florida.