Baird Medical Investment Holdings Limited (NASDAQ:BDMD) Sees Significant Drop in Short Interest

Baird Medical Investment Holdings Limited (NASDAQ:BDMD) was the recipient of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 218,817 shares, a decrease of 34.1% from the April 15th total of 331,842 shares. Approximately 2.5% of the company’s stock are sold short. Based on an average daily trading volume, of 207,356 shares, the days-to-cover ratio is presently 1.1 days.

Analysts Set New Price Targets

Several research analysts have weighed in on BDMD shares. Wall Street Zen upgraded shares of Baird Medical Investment to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings lowered shares of Baird Medical Investment from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Trading of Baird Medical Investment

Several institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Baird Medical Investment by 59.7% during the 2nd quarter. Geode Capital Management LLC now owns 25,442 shares of the company’s stock valued at $93,000 after acquiring an additional 9,511 shares in the last quarter. Jane Street Group LLC bought a new position in Baird Medical Investment during the 2nd quarter valued at about $142,000. Finally, Citadel Advisors LLC bought a new position in Baird Medical Investment during the 3rd quarter valued at about $99,000. 19.78% of the stock is currently owned by institutional investors and hedge funds.

Baird Medical Investment Trading Down 1.8%

Shares of Baird Medical Investment stock opened at $1.64 on Tuesday. The firm’s 50-day simple moving average is $1.94 and its 200-day simple moving average is $1.59. Baird Medical Investment has a twelve month low of $0.76 and a twelve month high of $7.26.

About Baird Medical Investment

Baird Medical Investment Holdings Ltd. is a medical technology company, which engages in the development and provision of medical devices. It is also involved in the design, development, manufacturing, and sale of microwave ablation medical devices, as well as sale of other medical devices. The company was founded on June 16, 2023 and is headquartered in Guangzhou, China.