Itonic Holdings Ltd. (NASDAQ:ITOC) Sees Large Increase in Short Interest

Itonic Holdings Ltd. (NASDAQ:ITOC) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 206,400 shares, an increase of 228.6% from the September 15th total of 62,815 shares. Approximately 19.4% of the company’s shares are sold short. Based on an average daily volume of 1,701,703 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Itonic from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 24th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has a consensus rating of “Sell”.

Itonic Stock Performance

NASDAQ:ITOC traded down $0.03 during mid-day trading on Tuesday, hitting $3.56. 49,594 shares of the stock traded hands, compared to its average volume of 124,034. Itonic has a 52 week low of $3.42 and a 52 week high of $18.40. The firm’s 50 day moving average is $4.66 and its two-hundred day moving average is $4.95.

Itonic (NASDAQ:ITOC) last announced its quarterly earnings data on Wednesday, September 30th. The company reported ($0.75) earnings per share (EPS) for the quarter. The business had revenue of $0.05 million for the quarter.

Itonic Company Profile

iTonic Holdings Ltd., a healthcare solutions provider, develops and commercializes treatment software and devices used for brachytherapy. Its proprietary treatment planning system is a radioactive particle implantation, a radiotherapy used in treating cancer patients by placing radioactive sources inside the patient that kill cancer cells and shrink tumors. The company offers FTTPS, a treatment planning system for treating various malignant tumors, which could determine the target volume, prescription dose, and dose limitation to protect organs at risks and produce dose distribution plan for brachytherapy for cancer patients.