Cynosure Short Interest Up 58.7% in July (CYNO)
Cynosure (NASDAQ:CYNO) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 1,320,359 shares, a growth of 58.7% from the July 15th total of 831,963 shares, Analyst RN reports. Approximately 6.6% of the company’s shares are short sold. Based on an average daily trading volume, of 373,280 shares, the days-to-cover ratio is presently 3.5 days.
Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Cynosure in a research note on Wednesday, July 30th. They now have a $32.00 price target on the stock, down previously from $35.00. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $33.67.
Shares of Cynosure (NASDAQ:CYNO) opened at 22.22 on Thursday. Cynosure has a one year low of $18.63 and a one year high of $31.48. The stock has a 50-day moving average of $21.35 and a 200-day moving average of $24.64. The company has a market cap of $490.8 million and a P/E ratio of 43.41.
Cynosure (NASDAQ:CYNO) last announced its earnings results on Tuesday, July 29th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $72.60 million for the quarter, compared to the consensus estimate of $71.15 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 44.9% on a year-over-year basis. On average, analysts predict that Cynosure will post $1.24 earnings per share for the current fiscal year.
Cynosure Inc (NASDAQ:CYNO) develops and markets aesthetic treatment systems that are used by physicians and other practitioners to perform non-invasive and minimally invasive procedures to remove hair rejuvenate the skin through the treatment of vascular and pigmented lesions, remove multi-colored tattoos, liquefy and remove unwanted fat through laser lypolysis, reduce cellulite and treat onychomycosis.
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