Echo Therapeutics Sees Significant Decline in Short Interest (ECTE)
Echo Therapeutics (NASDAQ:ECTE) was the target of a significant drop in short interest in the month of May. As of May 30th, there was short interest totalling 400,589 shares, a drop of 25.6% from the May 15th total of 538,478 shares, Analyst Ratings.Net reports. Based on an average trading volume of 101,999 shares, the short-interest ratio is currently 3.9 days. Approximately 3.4% of the shares of the company are sold short.
Separately, analysts at Feltl & Co. downgraded shares of Echo Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, May 12th.
Echo Therapeutics (NASDAQ:ECTE) opened at 2.11 on Friday. Echo Therapeutics has a 52-week low of $1.53 and a 52-week high of $4.91. The stock has a 50-day moving average of $2.13 and a 200-day moving average of $2.94. The company’s market cap is $25.3 million.
Echo Therapeutics (NASDAQ:ECTE) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.08. The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.02 million. Analysts expect that Echo Therapeutics will post $-0.90 EPS for the current fiscal year.
Echo Therapeutics, Inc (NASDAQ:ECTE) is a medical device and specialty pharmaceutical company.
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