Monogram Orthopaedics, Inc. (NASDAQ:MGRM) Short Interest Down 40.0% in October

Monogram Orthopaedics, Inc. (NASDAQ:MGRM) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 303,800 shares, a drop of 40.0% from the September 30th total of 506,500 shares. Based on an average daily trading volume, of 190,700 shares, the short-interest ratio is currently 1.6 days. Currently, 1.6% of the company’s stock are short sold.

Monogram Orthopaedics Price Performance

NASDAQ MGRM opened at $2.45 on Friday. The firm’s fifty day moving average price is $2.70 and its 200 day moving average price is $2.40. The company has a market capitalization of $77.67 million, a price-to-earnings ratio of -7.21 and a beta of 2.22. Monogram Orthopaedics has a 12 month low of $1.53 and a 12 month high of $4.90.

Monogram Orthopaedics (NASDAQ:MGRM) last posted its earnings results on Thursday, August 15th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). During the same quarter in the previous year, the firm earned ($0.27) EPS. As a group, sell-side analysts forecast that Monogram Orthopaedics will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Monogram Orthopaedics stock. Virtu Financial LLC acquired a new position in shares of Monogram Orthopaedics, Inc. (NASDAQ:MGRM) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 13,069 shares of the company’s stock, valued at approximately $32,000. Hedge funds and other institutional investors own 0.45% of the company’s stock.

About Monogram Orthopaedics

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.