Modular Medical, Inc. (NASDAQ:MODD) Short Interest Up 412.0% in March

Modular Medical, Inc. (NASDAQ:MODD) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 1,599,394 shares, an increase of 412.0% from the February 26th total of 312,370 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 2,965,256 shares, the short-interest ratio is currently 0.5 days. Based on an average daily trading volume, of 2,965,256 shares, the short-interest ratio is currently 0.5 days. Currently, 2.2% of the company’s shares are sold short.

Modular Medical Stock Down 3.7%

Modular Medical stock traded down $0.01 during midday trading on Tuesday, hitting $0.17. 1,099,954 shares of the stock were exchanged, compared to its average volume of 1,931,010. Modular Medical has a 52-week low of $0.12 and a 52-week high of $1.29. The business’s 50-day moving average price is $0.37 and its 200-day moving average price is $0.47. The stock has a market capitalization of $13.30 million, a price-to-earnings ratio of -0.35 and a beta of 0.25.

Modular Medical (NASDAQ:MODD) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.11) EPS for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Modular Medical in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MODD. 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 in the last quarter. 683 Capital Management LLC raised its stake in Modular Medical by 79.4% in the fourth quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock valued at $642,000 after purchasing an additional 780,000 shares in the last quarter. Sio Capital Management LLC lifted its position in Modular Medical by 211.8% during the second quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock valued at $585,000 after purchasing an additional 533,834 shares during the last quarter. Jane Street Group LLC lifted 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 purchasing an additional 133,969 shares during the last quarter. Finally, Warberg Asset Management LLC purchased a new position in Modular Medical in the 3rd quarter worth approximately $31,000. 27.47% of the stock is currently owned by hedge funds and other institutional investors.

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.