Short Interest in The Spectranetics Grows By 51.7% (SPNC)
The Spectranetics (NASDAQ:SPNC) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 2,436,035 shares, a growth of 51.7% from the March 31st total of 1,605,597 shares, AnalystRatings.NET reports. Based on an average daily trading volume, of 777,723 shares, the short-interest ratio is presently 3.1 days. Approximately 6.1% of the shares of the company are short sold.
In other The Spectranetics news, CFO Guy A. Childs sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $21.19, for a total transaction of $105,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of The Spectranetics from a “neutral” rating to an “underperform” rating in a research note on Wednesday, April 30th. They now have a $20.10 price target on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of The Spectranetics from $35.00 to $30.00 in a research note on Tuesday, April 8th. They now have a “buy” rating on the stock. Finally, analysts at Needham & Company LLC cut their price target on shares of The Spectranetics from $35.00 to $30.00 in a research note on Tuesday, April 8th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The Spectranetics has an average rating of “Hold” and a consensus price target of $25.07.
The Spectranetics (NASDAQ:SPNC) opened at 21.86 on Monday. The Spectranetics has a 52 week low of $15.52 and a 52 week high of $31.94. The stock’s 50-day moving average is $26.38 and its 200-day moving average is $24.73. The company’s market cap is $904.0 million.
The Spectranetics (NASDAQ:SPNC) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported ($0.14) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.14). The company had revenue of $39.60 million for the quarter, compared to the consensus estimate of $39.91 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts expect that The Spectranetics will post $-0.20 EPS for the current fiscal year.
The Spectranetics Corporation develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system.
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