GlucoTrack, Inc. (NASDAQ:GCTK) Sees Significant Decline in Short Interest

GlucoTrack, Inc. (NASDAQ:GCTK) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totaling 24,951 shares, a decline of 85.0% from the August 15th total of 165,864 shares. Based on an average daily volume of 207,650 shares, the short-interest ratio is currently 0.1 days. Approximately 3.8% of the company’s stock are short sold.

Analyst Ratings Changes

A number of research firms have issued reports on GCTK. Wall Street Zen upgraded shares of GlucoTrack from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “sell (e+)” rating on shares of GlucoTrack in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On GlucoTrack

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised 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 valued at $25,000 after acquiring an additional 4,085 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in GlucoTrack in the fourth quarter worth approximately $52,000. Finally, Ikarian Capital LLC bought a new stake in GlucoTrack in the fourth quarter worth approximately $177,000. Institutional investors and hedge funds own 10.92% of the company’s stock.

GlucoTrack Stock Down 23.1%

Shares of GCTK traded down $0.75 during midday trading on Friday, reaching $2.48. 607,979 shares of the stock were exchanged, compared to its average volume of 399,102. GlucoTrack has a 12-month low of $2.26 and a 12-month high of $212.10. The firm has a 50 day simple moving average of $5.44 and a 200-day simple moving average of $9.71. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.76 million, a price-to-earnings ratio of -0.02 and a beta of 0.62.

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.