Sanara MedTech Inc. (NASDAQ:SMTI) Short Interest Update

Sanara MedTech Inc. (NASDAQ:SMTI) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 216,090 shares, a drop of 42.8% from the July 15th total of 377,539 shares. Currently, 4.1% of the shares of the stock are sold short. Based on an average trading volume of 401,044 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of Sanara MedTech

Hedge funds have recently modified their holdings of the stock. Walleye Capital LLC bought a new position in Sanara MedTech in the 2nd quarter worth approximately $719,000. Renaissance Technologies LLC boosted its position in Sanara MedTech by 72.0% in the 1st quarter. Renaissance Technologies LLC now owns 64,680 shares of the company’s stock valued at $1,111,000 after buying an additional 27,078 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in Sanara MedTech in the 4th quarter valued at $299,000. Lazard Asset Management LLC increased its stake in shares of Sanara MedTech by 63,100.0% in the 2nd quarter. Lazard Asset Management LLC now owns 3,160 shares of the company’s stock valued at $89,000 after buying an additional 3,155 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Sanara MedTech by 44.1% in the 3rd quarter. Bank of America Corp DE now owns 3,181 shares of the company’s stock valued at $101,000 after buying an additional 973 shares during the period. 8.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SMTI. Weiss Ratings raised shares of Sanara MedTech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Lake Street Capital lowered shares of Sanara MedTech from a “buy” rating to a “hold” rating and set a $35.00 price target on the stock. in a research report on Thursday, July 30th. Wall Street Zen cut shares of Sanara MedTech from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Freedom Capital lowered shares of Sanara MedTech from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Zacks Research upgraded shares of Sanara MedTech from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 10th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $35.00.

Sanara MedTech Price Performance

Shares of NASDAQ:SMTI traded up $0.17 during midday trading on Tuesday, reaching $34.17. The company’s stock had a trading volume of 307,573 shares, compared to its average volume of 107,051. The business’s fifty day simple moving average is $26.64 and its 200-day simple moving average is $22.25. The company has a debt-to-equity ratio of 5.86, a current ratio of 2.58 and a quick ratio of 2.30. Sanara MedTech has a fifty-two week low of $16.05 and a fifty-two week high of $35.95. The company has a market capitalization of $313.95 million, a P/E ratio of -9.52 and a beta of 1.13.

Sanara MedTech (NASDAQ:SMTI) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). The company had revenue of $28.14 million for the quarter, compared to analyst estimates of $28.95 million. Sanara MedTech had a positive return on equity of 29.72% and a negative net margin of 29.15%. As a group, equities research analysts expect that Sanara MedTech will post 0.16 EPS for the current fiscal year.

About Sanara MedTech

Sanara MedTech is a medical technology company focused on developing and commercializing innovative devices for ear, nose and throat (ENT) healthcare. The company’s core offering centers on minimally invasive sinus dilation systems designed to treat chronic sinusitis and related conditions. These products leverage balloon catheter technology to expand sinus pathways and improve patient outcomes while reducing recovery times. In addition to sinus solutions, the portfolio extends to procedural tools and implants for otology and cranial applications.

With its legacy rooted in the assets of a former Johnson & Johnson business, Sanara MedTech combines decades of research and development in ENT therapies.