Carlsmed (NASDAQ:CARL) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Carlsmed, Inc. (NASDAQ:CARL)’s stock price crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $14.98 and traded as low as $14.27. Carlsmed shares last traded at $14.40, with a volume of 128,239 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CARL shares. BTIG Research increased their target price on Carlsmed from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Weiss Ratings raised Carlsmed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Truist Financial lifted their price target on Carlsmed from $18.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Wall Street Zen raised shares of Carlsmed from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Carlsmed currently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Carlsmed Stock Down 4.1%

The firm has a 50 day moving average price of $14.98 and a two-hundred day moving average price of $12.46. The company has a quick ratio of 8.66, a current ratio of 8.84 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $393.12 million, a price-to-earnings ratio of -10.07 and a beta of 1.97.

Carlsmed (NASDAQ:CARL) last announced its earnings results on Wednesday, August 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Carlsmed had a negative return on equity of 38.06% and a negative net margin of 57.42%. The business had revenue of $18.94 million for the quarter. As a group, sell-side analysts expect that Carlsmed, Inc. will post -1.50 earnings per share for the current year.

Institutional Investors Weigh In On Carlsmed

A number of hedge funds have recently bought and sold shares of the business. Jupiter Topco LLC purchased a new stake in Carlsmed during the 2nd quarter worth approximately $12,992,000. Janus Henderson Group PLC raised its position in shares of Carlsmed by 7.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company’s stock valued at $11,108,000 after purchasing an additional 86,834 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new position in shares of Carlsmed during the 2nd quarter valued at approximately $6,200,000. BlackRock Inc. purchased a new position in shares of Carlsmed during the 2nd quarter valued at approximately $5,528,000. Finally, KCM Capital Inc purchased a new position in shares of Carlsmed during the 1st quarter valued at approximately $1,810,000.

About Carlsmed

Carlsmed, Inc is a medical technology company focused on personalized solutions for spine surgery. The company combines patient-specific planning, advanced imaging, software and additive manufacturing to develop implants designed to address the anatomical needs of individual patients.

Its products include the aprevo® patient-specific interbody implant system, which is designed for use in spinal fusion procedures. Carlsmed’s technology is intended to support surgeons in planning procedures and selecting or creating implants that may help restore spinal alignment and improve surgical precision.

Carlsmed serves the spine-care market through relationships with spine surgeons, hospitals and other healthcare providers.