Silk Road Medical (NASDAQ:SILK) Sees Strong Trading Volume

Silk Road Medical, Inc (NASDAQ:SILK) saw an uptick in trading volume on Wednesday . 1,057,638 shares changed hands during trading, a decline of 2% from the previous session’s volume of 1,078,475 shares.The stock last traded at $26.88 and had previously closed at $26.90.

Wall Street Analysts Forecast Growth

SILK has been the topic of several analyst reports. Lake Street Capital reissued a “hold” rating and issued a $27.50 target price (down from $28.00) on shares of Silk Road Medical in a research report on Tuesday, June 18th. Argus raised shares of Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, March 7th. JPMorgan Chase & Co. raised their target price on Silk Road Medical from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Stifel Nicolaus upped their price target on Silk Road Medical from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Piper Sandler raised their price objective on Silk Road Medical from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Silk Road Medical currently has an average rating of “Hold” and an average price target of $20.85.

Silk Road Medical Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 11.05 and a quick ratio of 9.62. The company has a 50-day moving average price of $21.65 and a 200-day moving average price of $17.54.

Silk Road Medical (NASDAQ:SILK) last released its earnings results on Tuesday, April 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.04. Silk Road Medical had a negative return on equity of 35.47% and a negative net margin of 29.02%. The firm had revenue of $48.50 million for the quarter, compared to analyst estimates of $44.67 million. During the same quarter last year, the firm posted ($0.43) EPS. The company’s revenue was up 20.9% on a year-over-year basis. On average, sell-side analysts predict that Silk Road Medical, Inc will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On Silk Road Medical

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in Silk Road Medical by 1,293.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock worth $31,000 after purchasing an additional 2,342 shares during the last quarter. CWM LLC grew its position in Silk Road Medical by 151.5% during the fourth quarter. CWM LLC now owns 2,563 shares of the company’s stock worth $31,000 after buying an additional 1,544 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Silk Road Medical by 879.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock valued at $52,000 after acquiring an additional 3,780 shares during the period. Quest Partners LLC acquired a new position in Silk Road Medical in the 4th quarter valued at approximately $62,000. Finally, SG Americas Securities LLC bought a new stake in shares of Silk Road Medical in the 1st quarter worth approximately $109,000.

About Silk Road Medical

Silk Road Medical, Inc operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization (TCAR). Its products comprise ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and establish temporary blood flow reversal; ENROUTE Transcarotid Stent System for transcarotid access; ENHANCE Transcarotid Peripheral Access Kit, which is used to gain initial access to the common carotid artery; ENROUTE 0.014 Guidewire for atraumatic vessel navigation and target lesion crossing for delivery of interventional devices; and ENROUTE Enflate Transcarotid RX Balloon Dilation Catheter, a transcarotid rapid exchange balloon for the TCAR procedure.