Short Interest in The Spectranetics Expands By 47.4% (SPNC)
The Spectranetics (NASDAQ:SPNC) saw a significant increase in short interest in June. As of June 13th, there was short interest totalling 4,820,195 shares, an increase of 47.4% from the May 30th total of 3,269,825 shares, AR Network reports. Based on an average daily volume of 603,121 shares, the days-to-cover ratio is presently 8.0 days. Currently, 11.8% of the shares of the company are sold short.
SPNC has been the subject of a number of recent research reports. Analysts at CRT Capital reiterated a “buy” rating on shares of The Spectranetics in a research note on Wednesday, May 28th. They now have a $37.00 price target on the stock, up previously from $34.00. Separately, 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. Finally, 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. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $26.23.
The Spectranetics (NASDAQ:SPNC) opened at 23.20 on Monday. The Spectranetics has a one year low of $15.52 and a one year high of $31.94. The stock has a 50-day moving average of $22.7 and a 200-day moving average of $25.22. The company’s market cap is $963.5 million.
The Spectranetics (NASDAQ:SPNC) last announced its 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 $-0.22 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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