Profound Medical (TSE:PRN) Shares Down 2.8% – Here’s Why

Profound Medical Corp. (TSE:PRN)’s stock price was down 2.8% during trading on Tuesday . The company traded as low as C$9.09 and last traded at C$9.24. Approximately 5,931 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 18,186 shares. The stock had previously closed at C$9.51.

Profound Medical Stock Performance

The stock’s 50-day simple moving average is C$8.75 and its 200 day simple moving average is C$9.38. The company has a debt-to-equity ratio of 12.56, a quick ratio of 14.98 and a current ratio of 6.56. The company has a market capitalization of C$335.76 million, a PE ratio of -7.45 and a beta of 1.00.

Profound Medical (TSE:PRN) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$0.26 EPS for the quarter. Profound Medical had a negative net margin of 199.38% and a negative return on equity of 75.55%. The company had revenue of C$7.42 million for the quarter. As a group, research analysts expect that Profound Medical Corp. will post -1.9000001 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Dr. Arun Menawat bought 20,000 shares of the stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of C$6.96 per share, for a total transaction of C$139,200.00. Following the acquisition, the director owned 658,660 shares in the company, valued at approximately C$4,584,273.60. This represents a 3.13% increase in their position. Insiders own 8.62% of the company’s stock.

Profound Medical Company Profile

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.