Itonic Holdings Ltd. (NASDAQ:ITOC) Sees Significant Decline in Short Interest

Itonic Holdings Ltd. (NASDAQ:ITOC) was the target of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 197,966 shares, a decline of 33.7% from the May 14th total of 298,627 shares. Based on an average daily volume of 48,103 shares, the days-to-cover ratio is currently 4.1 days. Approximately 1.2% of the company’s stock are short sold.

Itonic Stock Performance

Shares of ITOC opened at $0.34 on Thursday. Itonic has a 1-year low of $0.25 and a 1-year high of $32.00. The firm’s fifty day moving average is $0.33.

Itonic (NASDAQ:ITOC) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.09) earnings per share for the quarter. The firm had revenue of $0.23 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Itonic from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 5th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

About Itonic

iTonic Holdings Ltd., a healthcare solutions provider, develops and commercializes treatment software and devices used for brachytherapy. Its proprietary treatment planning system is a radioactive particle implantation, a radiotherapy used in treating cancer patients by placing radioactive sources inside the patient that kill cancer cells and shrink tumors. The company offers FTTPS, a treatment planning system for treating various malignant tumors, which could determine the target volume, prescription dose, and dose limitation to protect organs at risks and produce dose distribution plan for brachytherapy for cancer patients.