Cytosorbents Corporation (NASDAQ:CTSO) Stock Short Interest Drops 94.8%

Cytosorbents Corporation (NASDAQ:CTSO) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 120,606 shares, a decrease of 94.8% from the August 31st total of 2,306,196 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average daily volume of 45,552 shares, the days-to-cover ratio is currently 2.6 days.

Cytosorbents Price Performance

NASDAQ CTSO opened at $4.30 on Friday. The stock has a 50-day simple moving average of $6.87 and a 200 day simple moving average of $9.33. Cytosorbents has a twelve month low of $3.94 and a twelve month high of $20.40. The stock has a market capitalization of $13.55 million, a PE ratio of -0.74 and a beta of 1.34. The company has a debt-to-equity ratio of 4.70, a quick ratio of 0.50 and a current ratio of 0.66.

Cytosorbents (NASDAQ:CTSO) last released its earnings results on Thursday, August 6th. The medical research company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.73. The firm had revenue of $9.63 million for the quarter, compared to analyst estimates of $9.38 million. Cytosorbents had a negative return on equity of 431.65% and a negative net margin of 48.94%. Research analysts anticipate that Cytosorbents will post -4.4 EPS for the current year.

Insider Transactions at Cytosorbents

In related news, CEO Phillip Chan purchased 200,000 shares of the stock in a transaction on Friday, September 4th. The shares were bought at an average price of $0.35 per share, for a total transaction of $70,000.00. Following the completion of the acquisition, the chief executive officer directly owned 1,944,432 shares in the company, valued at approximately $680,551.20. This trade represents a 11.47% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.80% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cytosorbents in a report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $107.50.

Cytosorbents Company Profile

CytoSorbents Corporation develops medical devices and blood-purification technologies designed to remove harmful substances from the bloodstream. Its proprietary technology uses porous polymer adsorbent beads that can capture and reduce levels of inflammatory mediators, drugs, toxins and other compounds without selectively removing beneficial blood components.

The company’s principal product, CytoSorb, is used in extracorporeal blood purification applications, including the management of cytokine storms and other inflammatory conditions associated with critical illness, cardiac surgery, trauma and sepsis.