Modular Medical, Inc. (NASDAQ:MODD – Get Free Report) shares dropped 3% on Monday . The stock traded as low as $0.42 and last traded at $0.4240. Approximately 137,280 shares traded hands during trading, a decline of 23% from the average daily volume of 178,438 shares. The stock had previously closed at $0.4369.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Modular Medical in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.
Modular Medical Price Performance
Modular Medical (NASDAQ:MODD – Get Free Report) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.04).
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Sio Capital Management LLC lifted its stake in shares of Modular Medical by 211.8% in the 2nd quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock valued at $585,000 after acquiring an additional 533,834 shares during the last quarter. Perritt Capital Management Inc grew its position in Modular Medical by 34.2% during the 3rd quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock worth $59,000 after acquiring an additional 21,675 shares during the last quarter. Finally, Warberg Asset Management LLC acquired a new position in Modular Medical in the 3rd quarter worth about $31,000. 27.47% of the stock is currently owned by institutional investors and hedge funds.
About Modular Medical
Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.
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