Modular Medical, Inc. (NASDAQ:MODD) Short Interest Update

Modular Medical, Inc. (NASDAQ:MODD) saw a large drop in short interest in October. As of October 15th, there was short interest totalling 681,300 shares, a drop of 15.0% from the September 30th total of 801,900 shares. Currently, 2.3% of the shares of the stock are short sold. Based on an average daily volume of 485,400 shares, the short-interest ratio is currently 1.4 days.

Insider Buying and Selling at Modular Medical

In related news, Director Philip Brent Sheibley bought 15,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was acquired at an average cost of $1.69 per share, with a total value of $25,350.00. Following the purchase, the director now directly owns 66,139 shares of the company’s stock, valued at $111,774.91. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 32.34% of the stock is currently owned by insiders.

Institutional Trading of Modular Medical

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new position in Modular Medical during the 2nd quarter valued at about $40,000. AWM Investment Company Inc. purchased a new position in Modular Medical during the 1st quarter valued at about $1,388,000. Finally, Navigation Wealth Management Inc. purchased a new position in Modular Medical during the 1st quarter valued at about $34,000. 27.47% of the stock is owned by institutional investors and hedge funds.

Modular Medical Stock Down 1.8 %

Shares of MODD traded down $0.04 during midday trading on Wednesday, reaching $2.21. The company had a trading volume of 44,641 shares, compared to its average volume of 235,336. Modular Medical has a 1-year low of $1.00 and a 1-year high of $2.65. The stock has a market cap of $71.96 million, a PE ratio of -3.25 and a beta of 0.59. The firm has a 50 day simple moving average of $2.14 and a 200-day simple moving average of $1.79.

Modular Medical (NASDAQ:MODD) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08.

About Modular Medical

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.