Modular Medical, Inc. (NASDAQ:MODD) Short Interest Update

Modular Medical, Inc. (NASDAQ:MODD) was the target of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 362,500 shares, a decline of 13.5% from the November 30th total of 419,200 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily volume of 168,600 shares, the days-to-cover ratio is currently 2.2 days.

Insiders Place Their Bets

In related news, Director Manchester Management Co Llc bought 21,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average cost of $1.68 per share, for a total transaction of $35,280.00. Following the purchase, the director now directly owns 265,750 shares of the company’s stock, valued at approximately $446,460. This trade represents a 8.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have bought 287,666 shares of company stock valued at $454,279. 32.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Modular Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MODD. Virtu Financial LLC purchased a new position in shares of Modular Medical in the third quarter worth about $44,000. Renaissance Technologies LLC acquired a new position in Modular Medical in the 2nd quarter worth approximately $40,000. Walleye Capital LLC raised its position in Modular Medical by 299.8% during the 3rd quarter. Walleye Capital LLC now owns 75,418 shares of the company’s stock worth $170,000 after buying an additional 56,552 shares during the last quarter. State Street Corp lifted its stake in Modular Medical by 285.8% during the 3rd quarter. State Street Corp now owns 76,000 shares of the company’s stock valued at $171,000 after acquiring an additional 56,300 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Modular Medical by 45.0% in the 3rd quarter. Geode Capital Management LLC now owns 306,440 shares of the company’s stock valued at $690,000 after acquiring an additional 95,072 shares during the last quarter. Hedge funds and other institutional investors own 27.47% of the company’s stock.

Modular Medical Trading Up 0.7 %

NASDAQ MODD opened at $1.43 on Monday. Modular Medical has a 12-month low of $1.08 and a 12-month high of $2.65. The company has a fifty day simple moving average of $1.86 and a two-hundred day simple moving average of $1.84. The stock has a market cap of $49.61 million, a P/E ratio of -2.27 and a beta of 0.46.

About Modular Medical

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.