ClearPoint Neuro, Inc. (NASDAQ:CLPT) Short Interest Update

ClearPoint Neuro, Inc. (NASDAQ:CLPT) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 1,280,000 shares, a decrease of 8.6% from the March 15th total of 1,400,000 shares. Based on an average trading volume of 152,300 shares, the days-to-cover ratio is currently 8.4 days.

ClearPoint Neuro Stock Performance

CLPT opened at $5.58 on Wednesday. The company has a market cap of $151.05 million, a PE ratio of -6.13 and a beta of 0.89. The stock has a 50-day moving average of $6.76 and a 200-day moving average of $6.32. ClearPoint Neuro has a 52-week low of $4.05 and a 52-week high of $10.80. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.80 and a current ratio of 4.87.

ClearPoint Neuro (NASDAQ:CLPT) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.03. ClearPoint Neuro had a negative return on equity of 83.94% and a negative net margin of 92.21%. The business had revenue of $6.81 million during the quarter, compared to analysts’ expectations of $6.40 million. As a group, equities research analysts forecast that ClearPoint Neuro will post -0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ClearPoint Neuro

Large investors have recently made changes to their positions in the business. State of Wyoming acquired a new position in shares of ClearPoint Neuro during the 4th quarter worth about $25,000. Cubist Systematic Strategies LLC acquired a new position in ClearPoint Neuro in the 1st quarter valued at approximately $38,000. Royal Bank of Canada raised its holdings in ClearPoint Neuro by 3,038.5% in the 2nd quarter. Royal Bank of Canada now owns 5,461 shares of the company’s stock valued at $40,000 after acquiring an additional 5,287 shares in the last quarter. California State Teachers Retirement System acquired a new position in ClearPoint Neuro in the 2nd quarter valued at approximately $55,000. Finally, Advisor Group Holdings Inc. raised its holdings in ClearPoint Neuro by 131.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,153 shares of the company’s stock valued at $66,000 after acquiring an additional 1,223 shares in the last quarter. Institutional investors and hedge funds own 30.08% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reiterated a “buy” rating and set a $9.00 price target (up previously from $8.00) on shares of ClearPoint Neuro in a research note on Wednesday, March 13th.

About ClearPoint Neuro

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.