Paragon 28 (NYSE:FNA) Sees Unusually-High Trading Volume – Here’s Why

Shares of Paragon 28, Inc. (NYSE:FNA) saw an uptick in trading volume on Thursday . 2,050,027 shares traded hands during trading, an increase of 20% from the previous session’s volume of 1,711,886 shares.The stock last traded at $13.02 and had previously closed at $12.99.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FNA. Needham & Company LLC reaffirmed a “hold” rating and issued a $13.00 price target on shares of Paragon 28 in a research note on Wednesday. Canaccord Genuity Group restated a “hold” rating on shares of Paragon 28 in a report on Wednesday. Stephens reiterated an “equal weight” rating and issued a $13.00 target price (down from $14.00) on shares of Paragon 28 in a report on Thursday. Finally, William Blair lowered shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Paragon 28 presently has a consensus rating of “Hold” and a consensus price target of $14.60.

Paragon 28 Stock Down 0.0 %

The company’s fifty day moving average price is $10.59 and its two-hundred day moving average price is $8.42. The company has a quick ratio of 1.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.79.

Paragon 28 (NYSE:FNA) last announced its earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $62.30 million during the quarter, compared to analyst estimates of $60.58 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.10) EPS. As a group, equities research analysts predict that Paragon 28, Inc. will post -0.64 EPS for the current fiscal year.

Insider Activity at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 147,581 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $10.28, for a total transaction of $1,517,132.68. Following the completion of the transaction, the insider now owns 10,738,564 shares of the company’s stock, valued at $110,392,437.92. This represents a 1.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 300,192 shares of company stock valued at $3,135,086. 15.32% of the stock is owned by insiders.

Institutional Trading of Paragon 28

A number of institutional investors have recently made changes to their positions in the business. Barclays PLC grew its stake in Paragon 28 by 180.6% in the third quarter. Barclays PLC now owns 84,812 shares of the company’s stock valued at $567,000 after purchasing an additional 54,591 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Paragon 28 by 2,141.7% during the third quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company’s stock worth $5,243,000 after buying an additional 749,865 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Paragon 28 during the third quarter worth $386,000. Millennium Management LLC raised its position in Paragon 28 by 5,834.0% during the second quarter. Millennium Management LLC now owns 725,489 shares of the company’s stock worth $4,962,000 after acquiring an additional 713,263 shares in the last quarter. Finally, State Street Corp lifted its stake in Paragon 28 by 2.6% in the third quarter. State Street Corp now owns 1,563,331 shares of the company’s stock valued at $10,443,000 after acquiring an additional 39,075 shares during the last quarter. Institutional investors own 63.57% of the company’s stock.

About Paragon 28

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.