Modular Medical, Inc. (NASDAQ:MODD) Short Interest Update

Modular Medical, Inc. (NASDAQ:MODD) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 162,277 shares, a growth of 75.7% from the June 15th total of 92,368 shares. Based on an average daily trading volume, of 218,898 shares, the days-to-cover ratio is presently 0.7 days. Currently, 3.2% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Modular Medical in a report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On Modular Medical

Several institutional investors and hedge funds have recently made changes to their positions in the business. 683 Capital Management LLC grew its stake in Modular Medical by 79.4% in the 4th quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock valued at $642,000 after acquiring an additional 780,000 shares during the last quarter. Bleichroeder LP increased its holdings in Modular Medical by 41.9% during the 4th quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock valued at $1,041,000 after acquiring an additional 845,000 shares in the last quarter. Jane Street Group LLC raised 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 worth $60,000 after acquiring an additional 133,969 shares during the last quarter. Finally, Perritt Capital Management Inc raised 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 worth $59,000 after acquiring an additional 21,675 shares during the last quarter. 27.47% of the stock is currently owned by hedge funds and other institutional investors.

Modular Medical Stock Performance

Shares of MODD stock opened at $2.98 on Friday. The stock has a fifty day moving average price of $4.38 and a 200 day moving average price of $7.47. The stock has a market cap of $16.13 million, a PE ratio of -0.20 and a beta of 0.32. Modular Medical has a 1 year low of $2.81 and a 1 year high of $30.00.

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.