Modular Medical (NASDAQ:MODD) Releases Earnings Results

Modular Medical (NASDAQ:MODD) posted its quarterly earnings results on Friday. The company reported ($1.19) earnings per share for the quarter, Zacks reports.

Modular Medical Price Performance

Shares of NASDAQ MODD traded up $0.62 during midday trading on Friday, reaching $2.49. 145,974 shares of the stock traded hands, compared to its average volume of 277,620. The stock has a market capitalization of $14.89 million, a PE ratio of -0.17 and a beta of 0.37. Modular Medical has a one year low of $1.74 and a one year high of $30.00. The company’s 50 day moving average is $3.60 and its 200 day moving average is $5.95.

Institutional Investors Weigh In On Modular Medical

Several large investors have recently bought and sold shares of MODD. Perritt Capital Management Inc raised 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 buying an additional 21,675 shares in the last quarter. Jane Street Group LLC raised its position in Modular Medical by 446.8% during the fourth quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock valued at $60,000 after purchasing an additional 133,969 shares during the period. 683 Capital Management LLC lifted its stake in shares of Modular Medical by 79.4% in the 4th quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock valued at $642,000 after purchasing an additional 780,000 shares during the last quarter. Finally, Bleichroeder LP lifted its stake in shares of Modular Medical by 41.9% in the 4th quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock valued at $1,041,000 after purchasing an additional 845,000 shares during the last quarter. Institutional investors own 27.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MODD. Wall Street Zen cut shares of Modular Medical to a “strong sell” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Modular Medical in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently 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.