Carlsmed, Inc. (NASDAQ:CARL) Short Interest Update

Carlsmed, Inc. (NASDAQ:CARL) saw a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 1,307,106 shares, an increase of 101.3% from the May 14th total of 649,325 shares. Approximately 4.8% of the shares of the stock are sold short. Based on an average trading volume of 311,376 shares, the short-interest ratio is presently 4.2 days.

Hedge Funds Weigh In On Carlsmed

A number of large investors have recently made changes to their positions in CARL. Orbimed Advisors LLC purchased a new position in shares of Carlsmed during the 3rd quarter worth about $16,772,000. Vanguard Group Inc. purchased a new position in shares of Carlsmed during the 3rd quarter worth about $3,042,000. KCM Capital Inc purchased a new position in shares of Carlsmed during the 1st quarter worth about $1,810,000. Russell Investments Group Ltd. purchased a new position in shares of Carlsmed during the 3rd quarter worth about $2,128,000. Finally, Citadel Advisors LLC purchased a new position in shares of Carlsmed during the 3rd quarter worth about $1,473,000.

Carlsmed Stock Performance

Carlsmed stock opened at $11.42 on Friday. The company’s 50-day moving average price is $10.55 and its 200-day moving average price is $11.86. Carlsmed has a twelve month low of $8.50 and a twelve month high of $17.19. The company has a quick ratio of 11.67, a current ratio of 11.88 and a debt-to-equity ratio of 0.17. The company has a market cap of $310.40 million and a PE ratio of -4.55.

Carlsmed (NASDAQ:CARL) last posted its earnings results on Tuesday, May 5th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.11. Carlsmed had a negative net margin of 57.76% and a negative return on equity of 60.74%. The firm had revenue of $16.12 million for the quarter. On average, equities research analysts forecast that Carlsmed will post -1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CARL has been the topic of a number of research reports. Wall Street Zen downgraded shares of Carlsmed from a “hold” rating to a “sell” rating in a report on Saturday. The Goldman Sachs Group reduced their price target on shares of Carlsmed from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Zacks Research upgraded shares of Carlsmed from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Truist Financial reduced their target price on shares of Carlsmed from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Finally, BTIG Research restated a “buy” rating and issued a $23.00 target price on shares of Carlsmed in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Carlsmed presently has a consensus rating of “Hold” and a consensus target price of $19.33.

Carlsmed Company Profile

We are a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient’s unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”).