Modular Medical (NASDAQ:MODD) Trading Down 1% – What’s Next?

Modular Medical, Inc. (NASDAQ:MODD)’s stock price traded down 1% during trading on Thursday . The stock traded as low as $3.94 and last traded at $4.06. 23,079 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 128,888 shares. The stock had previously closed at $4.10.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Modular Medical in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Modular Medical Price Performance

The company has a market capitalization of $21.96 million, a price-to-earnings ratio of -0.28 and a beta of 0.32. The stock has a fifty day simple moving average of $4.41 and a 200-day simple moving average of $7.76.

Hedge Funds Weigh In On Modular Medical

Institutional investors have recently made changes to their positions in the company. Bleichroeder LP lifted its stake in shares of Modular Medical by 41.9% in the 4th quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock valued at $1,041,000 after purchasing an additional 845,000 shares during the period. 683 Capital Management LLC boosted its holdings in 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 buying an additional 780,000 shares in the last quarter. Jane Street Group LLC grew its position in Modular Medical by 446.8% during the fourth quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock valued at $60,000 after buying an additional 133,969 shares during the period. Finally, Perritt Capital Management Inc grew its position in Modular Medical by 34.2% during the third quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock valued at $59,000 after buying an additional 21,675 shares during the period. 27.47% of the stock is owned by hedge funds and other institutional investors.

About Modular Medical

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.