Dynatronics Co. (NASDAQ:DYNT) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 19,900 shares, a growth of 188.4% from the August 30th total of 6,900 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 9,100 shares, the days-to-cover ratio is currently 2.2 days.
An institutional investor recently raised its position in Dynatronics stock. Citadel Advisors LLC increased its holdings in Dynatronics Co. (NASDAQ:DYNT) by 75.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,043 shares of the medical equipment provider’s stock after acquiring an additional 12,908 shares during the quarter. Citadel Advisors LLC owned approximately 0.36% of Dynatronics worth $50,000 as of its most recent SEC filing. 12.71% of the stock is owned by institutional investors and hedge funds.
Shares of DYNT traded down $0.04 during trading hours on Friday, reaching $0.97. 8,322 shares of the company traded hands, compared to its average volume of 8,997. The firm has a market cap of $8.42 million, a price-to-earnings ratio of -4.62 and a beta of 0.09. Dynatronics has a 12-month low of $0.97 and a 12-month high of $2.99. The company has a current ratio of 1.39, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average price is $1.21 and its 200 day moving average price is $1.56.
Dynatronics (NASDAQ:DYNT) last issued its earnings results on Wednesday, September 25th. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. Dynatronics had a negative net margin of 1.47% and a negative return on equity of 9.65%. The firm had revenue of $15.51 million during the quarter, compared to analyst estimates of $14.96 million. On average, research analysts forecast that Dynatronics will post -0.16 earnings per share for the current year.
A number of analysts have recently issued reports on DYNT shares. Maxim Group set a $3.00 target price on shares of Dynatronics and gave the company a “buy” rating in a research note on Thursday, September 26th. Zacks Investment Research raised shares of Dynatronics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, ValuEngine raised shares of Dynatronics from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $3.50.
Dynatronics Corporation designs, manufactures, markets, and distributes orthopedic soft goods, medical supplies, and physical therapy and rehabilitation equipment in the United States and internationally. It offers ankle and wrist braces, hot packs, cold packs, lumbar rolls, cervical collars, slings, cervical pillows, bolsters, positioning wedges, back cushions, lotions and gels, paper products, athletic tape, splints, elastic wraps, exercise weights, exercise bands and tubing, electrodes, and rehabilitation and back products.
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