Xtant Medical (NYSEAMERICAN:XTNT) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Xtant Medical Holdings, Inc. (NYSEAMERICAN:XTNT)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.56 and traded as low as $0.4195. Xtant Medical shares last traded at $0.4195, with a volume of 15,119 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. BTIG Research reissued a “buy” rating and set a $1.00 price target on shares of Xtant Medical in a research report on Wednesday, May 13th. Craig Hallum restated a “buy” rating on shares of Xtant Medical in a research report on Wednesday, March 18th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $1.00.

Xtant Medical Trading Up 0.6%

The company has a current ratio of 3.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $58.84 million, a P/E ratio of 41.99 and a beta of -0.16. The business has a 50 day moving average of $0.47 and a 200-day moving average of $0.56.

Xtant Medical (NYSEAMERICAN:XTNT) last announced its quarterly earnings results on Wednesday, May 13th. The medical device company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). Xtant Medical had a net margin of 1.50% and a return on equity of 3.68%. The firm had revenue of $20.88 million for the quarter, compared to analyst estimates of $20.16 million.

Hedge Funds Weigh In On Xtant Medical

A number of large investors have recently added to or reduced their stakes in the company. Nantahala Capital Management LLC raised its stake in shares of Xtant Medical by 500.3% in the 2nd quarter. Nantahala Capital Management LLC now owns 68,394,000 shares of the medical device company’s stock valued at $50,543,000 after purchasing an additional 57,000,000 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of Xtant Medical during the fourth quarter worth about $284,000. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Xtant Medical during the fourth quarter worth about $220,000. Renaissance Technologies LLC raised its position in Xtant Medical by 28.8% in the 4th quarter. Renaissance Technologies LLC now owns 919,860 shares of the medical device company’s stock valued at $721,000 after buying an additional 205,945 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Xtant Medical by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,355,671 shares of the medical device company’s stock valued at $1,529,000 after buying an additional 104,159 shares during the last quarter. Institutional investors own 69.33% of the company’s stock.

About Xtant Medical

Xtant Medical, Inc is a medical technology company focused on the development, manufacturing and distribution of bone graft, spine biologics and related implantable medical devices. The company’s product portfolio is designed to address critical needs in spinal fusion, orthopedics and trauma surgery by providing a range of solutions that promote bone growth, structural support and patient recovery.

The company’s offerings include an array of bone graft substitutes – such as demineralized bone matrix putties and fibers – interbody fusion devices, spinal fixation systems and biologic agents.