GlucoTrack, Inc. (NASDAQ:GCTK) Short Interest Up 725.9% in May

GlucoTrack, Inc. (NASDAQ:GCTK) was the target of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 363,693 shares, a growth of 725.9% from the May 14th total of 44,035 shares. Currently, 5.9% of the shares of the stock are short sold. Based on an average trading volume of 750,364 shares, the days-to-cover ratio is currently 0.5 days.

GlucoTrack Stock Up 2.2%

Shares of GCTK traded up $0.01 during trading hours on Thursday, hitting $0.41. 9,539,494 shares of the company were exchanged, compared to its average volume of 2,954,831. The company has a market cap of $2.57 million, a PE ratio of -0.02 and a beta of 0.72. The firm’s 50 day moving average is $0.69 and its 200-day moving average is $2.28. GlucoTrack has a 52 week low of $0.29 and a 52 week high of $15.90. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.85 and a current ratio of 0.85.

Hedge Funds Weigh In On GlucoTrack

Several large investors have recently made changes to their positions in GCTK. Bank of America Corp DE lifted its position in shares of GlucoTrack by 102,125.0% during the 2nd quarter. Bank of America Corp DE now owns 4,089 shares of the company’s stock worth $25,000 after purchasing an additional 4,085 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in GlucoTrack in the 4th quarter valued at approximately $52,000. Finally, Ikarian Capital LLC acquired a new position in GlucoTrack in the 4th quarter valued at approximately $177,000. Institutional investors and hedge funds own 10.92% of the company’s stock.

Analysts Set New Price Targets

GCTK has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of GlucoTrack in a report on Tuesday, April 21st. Wall Street Zen upgraded GlucoTrack to a “sell” rating in a report on Saturday, May 30th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

About GlucoTrack

GlucoTrack, Inc, a medical device company, focused on the design, development, and commercialization of novel technologies for people with diabetes in the United States. It develops GlucoTrack, a noninvasive glucose monitoring device that helps people with diabetes and pre-diabetics to obtain blood glucose level readings without the pain. The company was formerly known as Integrity Applications, Inc and changed its name to GlucoTrack, Inc in November 2021. GlucoTrack, Inc was founded in 2001 and is based in Rutherford, New Jersey.