Monogram Orthopaedics, Inc. (NASDAQ:MGRM) Short Interest Update

by · The Markets Daily

Monogram Orthopaedics, Inc. (NASDAQ:MGRM – Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 353,100 shares, an increase of 142.0% from the March 15th total of 145,900 shares. Based on an average daily volume of 629,400 shares, the short-interest ratio is presently 0.6 days. Approximately 1.5% of the shares of the stock are short sold.

Monogram Orthopaedics Price Performance

Shares of NASDAQ:MGRM traded down $0.03 during trading hours on Tuesday, hitting $2.70. 71,279 shares of the company’s stock traded hands, compared to its average volume of 250,655. The firm has a market capitalization of $95.28 million, a P/E ratio of -5.74 and a beta of 0.77. The business has a fifty day moving average price of $2.62 and a 200-day moving average price of $2.49. Monogram Orthopaedics has a 1 year low of $1.82 and a 1 year high of $4.21.

Monogram Orthopaedics (NASDAQ:MGRM – Get Free Report) last released its quarterly earnings data on Wednesday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.03. As a group, equities analysts predict that Monogram Orthopaedics will post -0.49 earnings per share for the current year.

Institutional Trading of Monogram Orthopaedics

Institutional investors have recently modified their holdings of the company. State Street Corp acquired a new stake in Monogram Orthopaedics in the third quarter worth about $62,000. Barclays PLC purchased a new stake in Monogram Orthopaedics during the 3rd quarter valued at about $29,000. Geode Capital Management LLC lifted its stake in Monogram Orthopaedics by 1,267.4% during the 3rd quarter. Geode Capital Management LLC now owns 210,144 shares of the company’s stock valued at $557,000 after acquiring an additional 194,776 shares during the period. Fiduciary Family Office LLC purchased a new stake in Monogram Orthopaedics in the fourth quarter valued at $70,000. Finally, Commonwealth Equity Services LLC lifted its holdings in Monogram Orthopaedics by 21.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 41,628 shares of the company’s stock valued at $99,000 after acquiring an additional 7,366 shares during the period. 0.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Roth Mkm increased their price objective on shares of Monogram Orthopaedics from $4.00 to $5.40 and gave the company a “buy” rating in a report on Tuesday, March 18th. Roth Capital set a $5.40 target price on shares of Monogram Orthopaedics in a research note on Tuesday, March 18th.

Get Our Latest Analysis on MGRM

About Monogram Orthopaedics

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Monogram Orthopaedics, Inc focuses on developing a product solution architecture to enable patient-optimized orthopaedic implants. The company intends to produce and market robotic surgical equipment and related software, orthopedic implants, tissue ablation tools, navigation consumables, and other miscellaneous instrumentation for use in reconstructive joint replacement procedures.

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