Outset Medical, Inc. (NASDAQ:OM) Sees Large Growth in Short Interest

Outset Medical, Inc. (NASDAQ:OM) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 9,080,000 shares, a growth of 40.6% from the January 15th total of 6,460,000 shares. Based on an average trading volume of 1,090,000 shares, the short-interest ratio is currently 8.3 days.

Insider Buying and Selling at Outset Medical

In other Outset Medical news, CFO Nabeel Ahmed sold 34,288 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $0.80, for a total value of $27,430.40. Following the completion of the sale, the chief financial officer now directly owns 258,869 shares in the company, valued at $207,095.20. This represents a 11.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Leslie Trigg sold 33,227 shares of Outset Medical stock in a transaction on Monday, January 13th. The shares were sold at an average price of $0.81, for a total value of $26,913.87. Following the transaction, the chief executive officer now owns 861,397 shares in the company, valued at approximately $697,731.57. This trade represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,790 shares of company stock valued at $222,243 in the last quarter. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Outset Medical

A number of institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP increased its position in shares of Outset Medical by 924.7% in the third quarter. GSA Capital Partners LLP now owns 1,111,612 shares of the company’s stock worth $753,000 after acquiring an additional 1,003,135 shares in the last quarter. Renaissance Technologies LLC grew its position in Outset Medical by 1,167.7% during the 4th quarter. Renaissance Technologies LLC now owns 686,748 shares of the company’s stock worth $762,000 after purchasing an additional 632,574 shares in the last quarter. Birchview Capital LP grew its position in Outset Medical by 3,587.7% during the 4th quarter. Birchview Capital LP now owns 368,766 shares of the company’s stock worth $409,000 after purchasing an additional 358,766 shares in the last quarter. Huntington National Bank raised its stake in Outset Medical by 46.2% during the 3rd quarter. Huntington National Bank now owns 63,306 shares of the company’s stock valued at $43,000 after purchasing an additional 20,000 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of Outset Medical by 79.2% in the third quarter. National Bank of Canada FI now owns 52,407 shares of the company’s stock valued at $35,000 after purchasing an additional 23,164 shares in the last quarter.

Outset Medical Price Performance

Shares of OM traded up $0.08 during trading hours on Friday, hitting $0.90. 2,687,766 shares of the company were exchanged, compared to its average volume of 951,179. The company has a debt-to-equity ratio of 4.12, a current ratio of 6.49 and a quick ratio of 5.04. The company has a market capitalization of $48.27 million, a PE ratio of -0.33 and a beta of 2.01. The firm has a fifty day simple moving average of $0.98 and a 200-day simple moving average of $0.88. Outset Medical has a one year low of $0.44 and a one year high of $5.22.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 price target on shares of Outset Medical in a research report on Tuesday, January 7th.

Outset Medical Company Profile

Outset Medical, Inc, a medical technology company, engages in the development of a hemodialysis system for hemodialysis in the United States. The company offers Tablo Hemodialysis System, a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings; and manufactures, supports, and distributes for Tablo console, Tablo cartridge, and other consumables.