Modular Medical, Inc. (NASDAQ:MODD) Sees Large Growth in Short Interest

Modular Medical, Inc. (NASDAQ:MODD) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 1,599,394 shares, an increase of 412.0% from the February 26th total of 312,370 shares. Based on an average trading volume of 2,965,256 shares, the short-interest ratio is currently 0.5 days. Approximately 2.2% of the company’s stock are sold short. Approximately 2.2% of the company’s stock are sold short. Based on an average trading volume of 2,965,256 shares, the short-interest ratio is currently 0.5 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Modular Medical in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Modular Medical

Several hedge funds have recently added to or reduced their stakes in MODD. Warberg Asset Management LLC bought a new position in Modular Medical during the third quarter worth $31,000. Perritt Capital Management Inc raised its position in shares of Modular Medical by 34.2% in the third quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock valued at $59,000 after purchasing an additional 21,675 shares during the period. Jane Street Group LLC lifted its stake in shares of Modular Medical by 446.8% during the 4th quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock worth $60,000 after buying an additional 133,969 shares during the last quarter. Sio Capital Management LLC boosted its holdings 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 buying an additional 533,834 shares during the period. Finally, 683 Capital Management LLC boosted its holdings in shares of Modular Medical by 79.4% during the 4th quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock worth $642,000 after buying an additional 780,000 shares during the period. Institutional investors and hedge funds own 27.47% of the company’s stock.

Modular Medical Stock Up 4.6%

Shares of MODD stock traded up $0.01 during trading on Wednesday, reaching $0.18. The company’s stock had a trading volume of 129,852 shares, compared to its average volume of 838,737. The business has a fifty day moving average price of $0.37 and a 200-day moving average price of $0.47. The company has a market cap of $13.91 million, a price-to-earnings ratio of -0.37 and a beta of 0.25. Modular Medical has a one year low of $0.12 and a one year high of $1.19.

Modular Medical (NASDAQ:MODD) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.11) EPS for the quarter.

Modular Medical Company Profile

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.