ENDRA Life Sciences Inc. (NASDAQ:NDRA) Sees Large Drop in Short Interest

ENDRA Life Sciences Inc. (NASDAQ:NDRA) saw a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 27,635 shares, a decline of 34.4% from the June 30th total of 42,119 shares. Based on an average trading volume of 36,764 shares, the short-interest ratio is presently 0.8 days. Approximately 2.4% of the shares of the stock are short sold.

Hedge Funds Weigh In On ENDRA Life Sciences

An institutional investor recently bought a new stake in ENDRA Life Sciences stock. Altium Capital Management LLC acquired a new position in shares of ENDRA Life Sciences Inc. (NASDAQ:NDRA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 51,900 shares of the company’s stock, valued at approximately $235,000. ENDRA Life Sciences comprises 0.9% of Altium Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding. Altium Capital Management LLC owned about 6.92% of ENDRA Life Sciences as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 1.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NDRA. Weiss Ratings reissued a “sell (e+)” rating on shares of ENDRA Life Sciences in a report on Friday, July 17th. Ascendiant Capital Markets reduced their price objective on ENDRA Life Sciences from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.00.

ENDRA Life Sciences Stock Up 5.8%

NDRA stock traded up $0.25 during trading on Friday, hitting $4.58. The company had a trading volume of 3,419 shares, compared to its average volume of 63,662. The firm has a 50-day moving average price of $5.01 and a 200-day moving average price of $4.61. ENDRA Life Sciences has a 12 month low of $2.96 and a 12 month high of $9.85. The stock has a market cap of $5.82 million, a price-to-earnings ratio of -0.56 and a beta of -0.06.

ENDRA Life Sciences (NASDAQ:NDRA) last announced its quarterly earnings data on Friday, May 15th. The company reported ($1.09) EPS for the quarter, beating analysts’ consensus estimates of ($1.23) by $0.14. Equities analysts expect that ENDRA Life Sciences will post -4.11 EPS for the current year.

ENDRA Life Sciences Company Profile

ENDRA Life Sciences, Inc (NASDAQ: NDRA) is a medical technology company headquartered in Ann Arbor, Michigan, that focuses on the development and commercialization of Thermoacoustic Enhanced Ultrasound (TAEUS™) imaging. The company’s proprietary TAEUS platform combines conventional ultrasound with thermoacoustic signals to provide non-invasive, real-time temperature monitoring of soft tissue. This technology is designed to improve the safety, efficacy and outcomes of thermal ablation procedures and other heat-based therapies.

ENDRA’s core product line centers on a compact, easy-to-integrate device that augments existing ultrasound systems.