Short Interest in SeaStar Medical Holding Corporation (NASDAQ:ICU) Decreases By 67.1%

SeaStar Medical Holding Corporation (NASDAQ:ICU) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 1,010,331 shares, a decline of 67.1% from the November 30th total of 3,074,030 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily volume of 1,603,318 shares, the short-interest ratio is presently 0.6 days. Based on an average daily volume of 1,603,318 shares, the short-interest ratio is presently 0.6 days. Currently, 2.8% of the company’s shares are short sold.

SeaStar Medical Stock Up 5.8%

Shares of ICU traded up $0.01 during mid-day trading on Friday, reaching $0.26. The company’s stock had a trading volume of 1,728,107 shares, compared to its average volume of 2,879,801. The company has a market cap of $9.23 million, a price-to-earnings ratio of -0.16 and a beta of -1.03. The business has a fifty day moving average of $0.41 and a 200 day moving average of $0.64. SeaStar Medical has a 1 year low of $0.22 and a 1 year high of $3.07.

Shares of SeaStar Medical are scheduled to reverse split on the morning of Friday, January 2nd. The 1-10 reverse split was announced on Thursday, December 18th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, December 31st.

SeaStar Medical (NASDAQ:ICU) last issued its earnings results on Thursday, November 13th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The company had revenue of $0.18 million for the quarter, compared to the consensus estimate of $0.25 million. SeaStar Medical had a negative return on equity of 414.50% and a negative net margin of 1,551.08%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SeaStar Medical in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, SeaStar Medical currently has an average rating of “Sell”.

Institutional Investors Weigh In On SeaStar Medical

A number of institutional investors have recently modified their holdings of ICU. Trinity Financial Advisors LLC grew its holdings in shares of SeaStar Medical by 233.3% during the 3rd quarter. Trinity Financial Advisors LLC now owns 50,000 shares of the company’s stock valued at $28,000 after acquiring an additional 35,000 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of SeaStar Medical by 395.4% during the second quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock worth $26,000 after acquiring an additional 48,674 shares in the last quarter. Millennium Management LLC acquired a new stake in SeaStar Medical during the third quarter valued at $102,000. Finally, Armistice Capital LLC purchased a new position in SeaStar Medical in the first quarter valued at about $1,018,000. Institutional investors and hedge funds own 1.69% of the company’s stock.

SeaStar Medical Company Profile

SeaStar Medical, Inc (NASDAQ: ICU) is a medical device company focused on the development and commercialization of cerebral embolic protection systems for patients undergoing transcatheter aortic valve replacement (TAVR) procedures. The company’s mission is to reduce the risk of stroke and other neurologic events associated with structural heart interventions by capturing or deflecting embolic debris that can travel to the brain during catheter-based therapies.

The company’s flagship product, TriGUARD® 3, is a next-generation embolic deflection device designed to provide coverage of all three cerebral vessels during TAVR.