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

SS Innovations International, Inc. (NASDAQ:SSII) was the recipient of a large decline in short interest in April. As of April 30th, there was short interest totaling 49,199 shares, a decline of 34.0% from the April 15th total of 74,555 shares. Based on an average daily volume of 39,585 shares, the short-interest ratio is presently 1.2 days. Currently, 0.0% of the shares of the stock are sold short.

SS Innovations International Stock Down 0.9%

Shares of SS Innovations International stock traded down $0.04 during mid-day trading on Tuesday, reaching $3.97. 10,025 shares of the stock traded hands, compared to its average volume of 76,395. The business has a 50-day moving average of $4.56 and a 200 day moving average of $5.22. SS Innovations International has a fifty-two week low of $3.02 and a fifty-two week high of $11.87. The stock has a market capitalization of $793.52 million and a PE ratio of -79.30.

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

Insider Activity at SS Innovations International

In other SS Innovations International news, Director Frederic H. Moll purchased 501,253 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average price of $3.99 per share, for a total transaction of $1,999,999.47. Following the purchase, the director directly owned 10,775,485 shares in the company, valued at approximately $42,994,185.15. This trade represents a 4.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Srivastava Sudhir purchased 498,753 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $4.01 per share, with a total value of $1,999,999.53. Following the purchase, the chief executive officer owned 109,851,767 shares in the company, valued at $440,505,585.67. This represents a 0.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 1,300,006 shares of company stock worth $5,196,999 in the last 90 days.

Institutional Investors Weigh In On SS Innovations International

A number of large investors have recently made changes to their positions in SSII. PNC Financial Services Group Inc. purchased a new stake in shares of SS Innovations International in the third quarter valued at approximately $56,000. Jane Street Group LLC purchased a new stake in shares of SS Innovations International in the fourth quarter valued at approximately $63,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of SS Innovations International in the fourth quarter valued at approximately $64,000. Goldman Sachs Group Inc. purchased a new stake in shares of SS Innovations International in the fourth quarter valued at approximately $68,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of SS Innovations International in the third quarter valued at approximately $71,000.

Analysts Set New Price Targets

Several brokerages recently weighed in on SSII. Weiss Ratings restated a “sell (e+)” rating on shares of SS Innovations International in a research note on Tuesday, April 21st. Wall Street Zen raised SS Innovations International from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

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.