Short Interest in Delcath Systems, Inc. (NASDAQ:DCTH) Declines By 20.5%

Delcath Systems, Inc. (NASDAQ:DCTH) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 700,600 shares, a decrease of 20.5% from the February 13th total of 881,500 shares. Approximately 2.7% of the shares of the stock are sold short. Based on an average trading volume of 401,400 shares, the days-to-cover ratio is presently 1.7 days.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DCTH. Craig Hallum raised their price target on Delcath Systems from $18.00 to $21.00 and gave the company a “buy” rating in a report on Friday, January 17th. HC Wainwright raised their target price on shares of Delcath Systems from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, March 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.75.

Delcath Systems Price Performance

NASDAQ DCTH traded up $0.25 during trading hours on Tuesday, reaching $13.44. 468,976 shares of the stock traded hands, compared to its average volume of 331,259. The stock has a 50 day simple moving average of $14.44 and a two-hundred day simple moving average of $11.85. Delcath Systems has a 1 year low of $4.12 and a 1 year high of $16.97. The company has a market cap of $448.94 million, a price-to-earnings ratio of -9.96 and a beta of 0.82.

Delcath Systems (NASDAQ:DCTH) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $15.10 million for the quarter, compared to the consensus estimate of $14.96 million. Delcath Systems had a negative net margin of 150.70% and a negative return on equity of 338.16%. During the same quarter last year, the company posted ($0.48) earnings per share. On average, sell-side analysts forecast that Delcath Systems will post -0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DCTH. Principal Financial Group Inc. bought a new position in shares of Delcath Systems during the 3rd quarter valued at $808,000. Baader Bank Aktiengesellschaft purchased a new stake in Delcath Systems during the fourth quarter valued at about $204,000. Barclays PLC bought a new position in shares of Delcath Systems during the third quarter valued at about $104,000. Jane Street Group LLC bought a new position in shares of Delcath Systems during the third quarter valued at about $110,000. Finally, Private Advisor Group LLC purchased a new position in shares of Delcath Systems in the fourth quarter worth about $153,000. 61.12% of the stock is owned by hedge funds and other institutional investors.

About Delcath Systems

Delcath Systems, Inc, an interventional oncology company, focuses on the treatment of primary and metastatic liver cancers in the United States and Europe. The company’s lead product candidate is HEPZATO KIT, a melphalan for injection/hepatic delivery system to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects.