Profound Medical (TSE:PRN) Trading Down 1.6% – Here’s Why

Profound Medical Corp. (TSE:PRN)’s stock price dropped 1.6% during mid-day trading on Tuesday . The company traded as low as C$9.29 and last traded at C$9.39. Approximately 9,073 shares were traded during mid-day trading, a decline of 42% from the average session volume of 15,715 shares. The stock had previously closed at C$9.54.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial upgraded Profound Medical from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 27th. Five analysts have rated the stock with a Buy rating, eighteen have assigned a Moderate Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Profound Medical has an average rating of “Moderate Buy” and an average price target of C$8.20.

Profound Medical Stock Performance

The company has a market cap of C$299.63 million, a PE ratio of -8.28 and a beta of 1.06. The stock has a 50 day simple moving average of C$9.91 and a two-hundred day simple moving average of C$9.38. The company has a debt-to-equity ratio of 14.82, a current ratio of 6.46 and a quick ratio of 14.98.

Profound Medical (TSE:PRN) last announced its earnings results on Thursday, August 6th. The company reported C($0.37) earnings per share (EPS) for the quarter. The business had revenue of C$3.53 million for the quarter. Profound Medical had a negative return on equity of 62.45% and a negative net margin of 170.92%. Equities analysts predict that Profound Medical Corp. will post -1.9000001 EPS for the current year.

Insider Transactions at Profound Medical

In other Profound Medical news, insider Thomas Michael Tamberrino acquired 3,755 shares of the stock in a transaction on Monday, August 17th. The shares were bought at an average cost of C$9.44 per share, with a total value of C$35,447.20. Following the transaction, the insider owned 53,573 shares of the company’s stock, valued at approximately C$505,729.12. This trade represents a 7.54% increase in their position. Insiders own 8.62% of the company’s stock.

Profound Medical Company Profile

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.