EnteroMedics Inc. (NASDAQ:ETRM) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 879,769 shares, a decrease of 37.0% from the August 15th total of 1,396,751 shares. Based on an average daily volume of 311,002 shares, the days-to-cover ratio is presently 2.8 days. Approximately 9.6% of the company’s stock are sold short.

A number of equities analysts recently issued reports on the company. ValuEngine raised EnteroMedics from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Zacks Investment Research raised EnteroMedics from a “hold” rating to a “strong-buy” rating and set a $2.25 price target for the company in a report on Wednesday, August 23rd. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and issued a $11.00 price target on shares of EnteroMedics in a report on Thursday, May 25th.

EnteroMedics (NASDAQ:ETRM) opened at 1.80 on Friday. The company has a 50-day moving average price of $2.45 and a 200-day moving average price of $4.47. The firm’s market capitalization is $14.93 million. EnteroMedics has a one year low of $0.04 and a one year high of $30.41.

EnteroMedics (NASDAQ:ETRM) last posted its quarterly earnings data on Tuesday, August 8th. The medical device company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.09. EnteroMedics had a negative return on equity of 167.73% and a negative net margin of 4,399.48%. The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.20 million. On average, equities research analysts anticipate that EnteroMedics will post ($1.77) EPS for the current year.

A hedge fund recently raised its stake in EnteroMedics stock. Vanguard Group Inc. grew its position in EnteroMedics Inc. (NASDAQ:ETRM) by 24.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,740 shares of the medical device company’s stock after acquiring an additional 9,727 shares during the quarter. Vanguard Group Inc. owned approximately 0.72% of EnteroMedics worth $248,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 1.28% of the company’s stock.

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About EnteroMedics

EnteroMedics Inc (EnteroMedics) is a medical device company. The Company is focused on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders. The Company’s neuroblocking technology, which is referred to as VBLOC therapy, is designed to intermittently block the vagus nerve.

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