Short Interest in GlucoTrack, Inc. (NASDAQ:GCTK) Expands By 725.9%

GlucoTrack, Inc. (NASDAQ:GCTK) was the recipient of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 363,693 shares, a growth of 725.9% from the May 14th total of 44,035 shares. Currently, 5.9% of the shares of the company are short sold. Based on an average daily trading volume, of 750,364 shares, the short-interest ratio is presently 0.5 days.

Hedge Funds Weigh In On GlucoTrack

A number of large investors have recently made changes to their positions in the company. Ikarian Capital LLC bought a new position in shares of GlucoTrack during the fourth quarter worth approximately $177,000. Boothbay Fund Management LLC acquired a new stake in GlucoTrack during the fourth quarter worth approximately $52,000. Finally, Bank of America Corp DE grew its position in GlucoTrack by 102,125.0% during the second quarter. Bank of America Corp DE now owns 4,089 shares of the company’s stock worth $25,000 after buying an additional 4,085 shares in the last quarter. Institutional investors own 10.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on GCTK. Wall Street Zen upgraded GlucoTrack to a “sell” rating in a research note on Saturday, May 30th. Weiss Ratings restated a “sell (e+)” rating on shares of GlucoTrack in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

GlucoTrack Stock Performance

Shares of NASDAQ GCTK traded down $0.08 during trading hours on Wednesday, reaching $0.42. 433,980 shares of the stock were exchanged, compared to its average volume of 2,888,848. The firm has a market capitalization of $2.62 million, a price-to-earnings ratio of -0.02 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.85 and a current ratio of 0.85. GlucoTrack has a 52 week low of $0.42 and a 52 week high of $15.90. The stock’s fifty day simple moving average is $0.70 and its 200 day simple moving average is $2.31.

About GlucoTrack

GlucoTrack, Inc, a medical device company, focused on the design, development, and commercialization of novel technologies for people with diabetes in the United States. It develops GlucoTrack, a noninvasive glucose monitoring device that helps people with diabetes and pre-diabetics to obtain blood glucose level readings without the pain. The company was formerly known as Integrity Applications, Inc and changed its name to GlucoTrack, Inc in November 2021. GlucoTrack, Inc was founded in 2001 and is based in Rutherford, New Jersey.