SS Innovations International, Inc. (NASDAQ:SSII) Sees Significant Decline in Short Interest

SS Innovations International, Inc. (NASDAQ:SSII) was the recipient of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 49,199 shares, a decrease of 34.0% from the April 15th total of 74,555 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 39,585 shares, the days-to-cover ratio is currently 1.2 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SSII. Wall Street Zen upgraded SS Innovations International from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of SS Innovations International in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, SS Innovations International has a consensus rating of “Sell”.

SS Innovations International Stock Performance

NASDAQ SSII opened at $4.00 on Wednesday. The firm has a market capitalization of $800.52 million and a price-to-earnings ratio of -80.00. The firm’s 50 day simple moving average is $4.56 and its 200 day simple moving average is $5.19. SS Innovations International has a 1 year low of $3.02 and a 1 year high of $11.87.

SS Innovations International (NASDAQ:SSII) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $11.10 million for the quarter. SS Innovations International had a negative return on equity of 23.00% and a negative net margin of 20.69%.

Insider Buying and Selling at SS Innovations International

In related news, Director Frederic H. Moll purchased 501,253 shares of the stock in a transaction on Friday, March 6th. The shares were purchased at an average cost of $3.99 per share, with a total value of $1,999,999.47. Following the acquisition, the director directly owned 10,775,485 shares in the company, valued at $42,994,185.15. The trade was a 4.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Srivastava Sudhir purchased 498,753 shares of the stock in a transaction on Friday, March 6th. The stock was bought at an average cost of $4.01 per share, for a total transaction of $1,999,999.53. Following the completion of the acquisition, the chief executive officer owned 109,851,767 shares in the company, valued at approximately $440,505,585.67. This trade represents a 0.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 1,300,006 shares of company stock valued at $5,196,999 in the last three months.

Institutional Trading of SS Innovations International

A number of hedge funds have recently added to or reduced their stakes in SSII. Handelsbanken Fonder AB acquired a new stake in SS Innovations International in the third quarter valued at approximately $714,000. JNBA Financial Advisors acquired a new stake in SS Innovations International in the fourth quarter valued at approximately $498,000. Eversept Partners LP acquired a new stake in SS Innovations International in the fourth quarter valued at approximately $428,000. AlphaCentric Advisors LLC acquired a new stake in SS Innovations International in the fourth quarter valued at approximately $284,000. Finally, Inspire Investing LLC boosted its position in SS Innovations International by 124.4% in the fourth quarter. Inspire Investing LLC now owns 82,773 shares of the company’s stock valued at $470,000 after buying an additional 45,886 shares in the last quarter.

About SS Innovations International

AVRA Medical Robotics, Inc develops and manufactures medical surgical devices. The company has a research agreement with the University of Central Florida to develop navigation and control technologies with applications in medical robotics. The company was formerly known as AVRA Surgical Microsystems, Inc and changed its name to AVRA Medical Robotics, Inc in November 2015. AVRA Medical Robotics, Inc was founded in 2015 and is based in Orlando, Florida.