Modular Medical (MODD) Projected to Post Quarterly Earnings on Wednesday

Modular Medical (NASDAQ:MODD) is expected to be issuing its results after the market closes on Wednesday, June 3rd. Analysts expect the company to announce earnings of ($2.70) per share and revenue of $1.80 million for the quarter.

Modular Medical Trading Up 12.9%

Modular Medical stock opened at $4.90 on Wednesday. Modular Medical has a 12 month low of $3.13 and a 12 month high of $30.00. The stock’s 50 day simple moving average is $4.74 and its two-hundred day simple moving average is $9.61. The firm has a market cap of $22.83 million, a PE ratio of -0.33 and a beta of 0.24.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Modular Medical in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MODD. Perritt Capital Management Inc raised its stake in shares of 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 buying an additional 21,675 shares during the period. Jane Street Group LLC raised its stake in shares of Modular Medical by 446.8% during the 4th quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock worth $60,000 after buying an additional 133,969 shares during the period. 683 Capital Management LLC raised its stake in shares of Modular Medical by 79.4% during the 4th quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock worth $642,000 after buying an additional 780,000 shares during the period. Finally, Bleichroeder LP raised its stake in shares of Modular Medical by 41.9% during the 4th quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock worth $1,041,000 after buying an additional 845,000 shares during the period. 27.47% of the stock is owned by institutional investors and hedge funds.

Modular Medical Company Profile

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.