Modular Medical (NASDAQ:MODD) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Modular Medical (NASDAQ:MODD) to a strong sell rating in a report published on Saturday morning.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Modular Medical in a report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Modular Medical currently has a consensus rating of “Sell”.

Modular Medical Price Performance

Shares of MODD stock opened at $2.37 on Friday. The company has a market cap of $14.17 million, a price-to-earnings ratio of -0.16 and a beta of 0.37. Modular Medical has a 1 year low of $1.72 and a 1 year high of $30.00. The firm has a fifty day moving average price of $3.55 and a 200-day moving average price of $5.81.

Modular Medical (NASDAQ:MODD) last announced its earnings results on Friday, August 14th. The company reported ($1.19) EPS for the quarter.

Institutional Trading of Modular Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Perritt Capital Management Inc raised its position in shares of Modular Medical by 34.2% during the 3rd quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock valued at $59,000 after purchasing an additional 21,675 shares during the period. Jane Street Group LLC boosted its holdings in Modular Medical by 446.8% in the 4th quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock worth $60,000 after buying an additional 133,969 shares during the period. AWM Investment Company Inc. boosted its holdings in Modular Medical by 20.3% in the 2nd quarter. AWM Investment Company Inc. now owns 441,095 shares of the company’s stock worth $1,985,000 after buying an additional 74,429 shares during the period. 683 Capital Management LLC increased 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 worth $642,000 after buying an additional 780,000 shares in the last quarter. Finally, Bleichroeder LP increased its stake in Modular Medical by 41.9% in the 4th quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock worth $1,041,000 after buying an additional 845,000 shares in the last quarter. 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.