Baird Medical Investment Holdings Limited (NASDAQ:BDMD) Sees Large Drop in Short Interest

Baird Medical Investment Holdings Limited (NASDAQ:BDMD) was the target of a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 218,817 shares, a drop of 34.1% from the April 15th total of 331,842 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily volume of 207,356 shares, the days-to-cover ratio is presently 1.1 days.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Weiss Ratings cut shares of Baird Medical Investment from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Baird Medical Investment to a “hold” rating in a research note on Saturday, March 14th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Baird Medical Investment

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Baird Medical Investment by 59.7% during the second quarter. Geode Capital Management LLC now owns 25,442 shares of the company’s stock worth $93,000 after acquiring an additional 9,511 shares during the period. Jane Street Group LLC bought a new position in Baird Medical Investment during the second quarter worth $142,000. Finally, Citadel Advisors LLC bought a new position in Baird Medical Investment during the third quarter worth $99,000. Institutional investors own 19.78% of the company’s stock.

Baird Medical Investment Price Performance

Shares of BDMD stock opened at $1.67 on Monday. Baird Medical Investment has a 1 year low of $0.76 and a 1 year high of $7.26. The firm’s fifty day simple moving average is $1.97 and its 200 day simple moving average is $1.59.

About Baird Medical Investment

Baird Medical Investment Holdings Ltd. is a medical technology company, which engages in the development and provision of medical devices. It is also involved in the design, development, manufacturing, and sale of microwave ablation medical devices, as well as sale of other medical devices. The company was founded on June 16, 2023 and is headquartered in Guangzhou, China.