Modular Medical, Inc. (NASDAQ:MODD) Short Interest Down 15.0% in October

Modular Medical, Inc. (NASDAQ:MODD) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 681,300 shares, a decline of 15.0% from the September 30th total of 801,900 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average daily volume of 485,400 shares, the short-interest ratio is presently 1.4 days.

Insider Activity

In related news, Director Philip Brent Sheibley purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average cost of $1.69 per share, with a total value of $25,350.00. Following the completion of the acquisition, the director now directly owns 66,139 shares in the company, valued at $111,774.91. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 32.34% of the company’s stock.

Hedge Funds Weigh In On Modular Medical

A number of large investors have recently made changes to their positions in the stock. Navigation Wealth Management Inc. purchased a new stake in Modular Medical during the first quarter worth about $34,000. Renaissance Technologies LLC acquired a new stake in shares of Modular Medical during the 2nd quarter valued at approximately $40,000. Finally, AWM Investment Company Inc. acquired a new stake in shares of Modular Medical during the 1st quarter valued at approximately $1,388,000. Hedge funds and other institutional investors own 27.47% of the company’s stock.

Modular Medical Trading Down 1.3 %

Shares of MODD opened at $2.22 on Monday. The firm has a market capitalization of $72.23 million, a PE ratio of -2.85 and a beta of 0.59. The stock’s 50 day moving average is $2.11 and its two-hundred day moving average is $1.78. Modular Medical has a twelve month low of $1.00 and a twelve month high of $2.65.

Modular Medical (NASDAQ:MODD) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08.

About Modular Medical

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.