SeaStar Medical Stock Scheduled to Reverse Split on Friday, January 2nd (NASDAQ:ICU)

Shares of SeaStar Medical Holding Corporation (NASDAQ:ICU) are scheduled to reverse split before the market opens on Friday, January 2nd. The 1-10 reverse split was announced on Thursday, December 18th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, December 31st.

SeaStar Medical Stock Up 0.8%

Shares of ICU opened at $0.24 on Thursday. The company has a 50 day moving average of $0.42 and a two-hundred day moving average of $0.64. SeaStar Medical has a twelve month low of $0.22 and a twelve month high of $3.07. The company has a market cap of $8.54 million, a price-to-earnings ratio of -0.14 and a beta of -1.03.

SeaStar Medical (NASDAQ:ICU) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. 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 return on equity of 414.50% and a negative net margin of 1,551.08%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of SeaStar Medical in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On SeaStar Medical

Several hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new stake in shares of SeaStar Medical during the 3rd quarter worth approximately $102,000. Trinity Financial Advisors LLC raised its stake in SeaStar Medical by 233.3% during the 3rd quarter. Trinity Financial Advisors LLC now owns 50,000 shares of the company’s stock worth $28,000 after acquiring an additional 35,000 shares in the last quarter. XTX Topco Ltd lifted its position in SeaStar Medical by 395.4% in the second quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock valued at $26,000 after acquiring an additional 48,674 shares during the last quarter. Finally, Armistice Capital LLC acquired a new position in SeaStar Medical in the first quarter valued at $1,018,000. 1.69% of the stock is currently owned by hedge funds and other institutional investors.

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.