Modular Medical, Inc. (NASDAQ:MODD) Short Interest Update

Modular Medical, Inc. (NASDAQ:MODD) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 489,304 shares, an increase of 29.8% from the November 30th total of 376,896 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average trading volume of 716,209 shares, the days-to-cover ratio is currently 0.7 days. Based on an average trading volume of 716,209 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.0% of the shares of the stock are sold short.

Modular Medical Stock Performance

MODD stock traded down $0.03 on Tuesday, reaching $0.36. The company’s stock had a trading volume of 424,680 shares, compared to its average volume of 586,938. The business has a fifty day simple moving average of $0.45 and a two-hundred day simple moving average of $0.62. Modular Medical has a 12-month low of $0.28 and a 12-month high of $1.49.

Modular Medical (NASDAQ:MODD) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.04).

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MODD. AWM Investment Company Inc. grew its holdings in shares of Modular Medical by 12.8% during the first quarter. AWM Investment Company Inc. now owns 1,033,732 shares of the company’s stock valued at $1,127,000 after buying an additional 117,066 shares during the last quarter. 683 Capital Management LLC raised its holdings in Modular Medical by 23.8% in the 1st quarter. 683 Capital Management LLC now owns 1,980,000 shares of the company’s stock worth $2,158,000 after acquiring an additional 380,000 shares during the last quarter. Alyeska Investment Group L.P. raised its position in Modular Medical by 156.3% in the first quarter. Alyeska Investment Group L.P. now owns 1,708,332 shares of the company’s stock worth $1,862,000 after acquiring an additional 1,041,666 shares during the period. Sio Capital Management LLC boosted its stake in shares of Modular Medical by 211.8% during the 2nd quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock worth $585,000 after acquiring an additional 533,834 shares during the last quarter. Finally, Perritt Capital Management Inc grew its position in shares of Modular Medical by 34.2% during the 3rd quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock valued at $59,000 after acquiring an additional 21,675 shares during the period. 27.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Modular Medical in a report on Monday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Modular Medical currently has a consensus rating of “Sell”.

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.