Modular Medical (NASDAQ:MODD) Stock Price Down 3% – Here’s What Happened

Modular Medical, Inc. (NASDAQ:MODDGet 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”.

Get Our Latest Report on MODD

Modular Medical Price Performance

The business’s fifty day moving average price is $0.42 and its 200 day moving average price is $0.56. The stock has a market cap of $32.94 million, a P/E ratio of -0.83 and a beta of 0.17.

Modular Medical (NASDAQ:MODDGet 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

(Get Free Report)

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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