Modular Medical (NASDAQ:MODD) Shares Up 12.9% – Should You Buy?

Modular Medical, Inc. (NASDAQ:MODD)’s share price was up 12.9% during mid-day trading on Tuesday . The company traded as high as $5.29 and last traded at $4.90. Approximately 39,579 shares changed hands during mid-day trading, an increase of 93% from the average daily volume of 20,524 shares. The stock had previously closed at $4.34.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Modular Medical in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Modular Medical Price Performance

The stock has a 50-day simple moving average of $4.74 and a 200-day simple moving average of $9.61. The stock has a market cap of $22.83 million, a P/E ratio of -0.33 and a beta of 0.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Warberg Asset Management LLC bought a new position in Modular Medical in the third quarter valued at about $31,000. Perritt Capital Management Inc grew its position in Modular Medical by 34.2% in the third quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock valued at $59,000 after acquiring an additional 21,675 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Modular Medical by 446.8% during the fourth quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock worth $60,000 after purchasing an additional 133,969 shares during the last quarter. 683 Capital Management LLC grew its holdings in shares of Modular Medical by 79.4% during the fourth quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock worth $642,000 after purchasing an additional 780,000 shares during the last quarter. Finally, Bleichroeder LP grew its holdings in shares of Modular Medical by 41.9% during the fourth quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock worth $1,041,000 after purchasing an additional 845,000 shares during the last quarter. Institutional investors own 27.47% of the company’s stock.

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.