Short Interest in Modular Medical, Inc. (NASDAQ:MODD) Increases By 29.8%

Modular Medical, Inc. (NASDAQ:MODD) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 489,304 shares, a growth of 29.8% from the November 30th total of 376,896 shares. Based on an average daily volume of 716,209 shares, the short-interest ratio is currently 0.7 days. Approximately 1.0% of the shares of the company are sold short. Approximately 1.0% of the shares of the company are sold short. Based on an average daily volume of 716,209 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MODD. AWM Investment Company Inc. raised its holdings in shares of Modular Medical by 12.8% during the 1st quarter. AWM Investment Company Inc. now owns 1,033,732 shares of the company’s stock worth $1,127,000 after acquiring an additional 117,066 shares in the last quarter. 683 Capital Management LLC boosted its holdings in shares of Modular Medical by 23.8% in the 1st quarter. 683 Capital Management LLC now owns 1,980,000 shares of the company’s stock worth $2,158,000 after purchasing an additional 380,000 shares during the period. Alyeska Investment Group L.P. increased its position in shares of Modular Medical by 156.3% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,708,332 shares of the company’s stock valued at $1,862,000 after purchasing an additional 1,041,666 shares during the last quarter. Sio Capital Management LLC lifted its holdings in shares of Modular Medical by 211.8% in the 2nd quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock worth $585,000 after acquiring an additional 533,834 shares during the last quarter. Finally, Perritt Capital Management Inc boosted its stake in shares of Modular Medical by 34.2% during the 3rd quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock worth $59,000 after purchasing an additional 21,675 shares during the period. Hedge funds and other institutional investors own 27.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Modular Medical in a research report on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Modular Medical has an average rating of “Sell”.

Modular Medical Trading Down 7.2%

MODD stock traded down $0.03 during midday trading on Tuesday, hitting $0.36. The company’s stock had a trading volume of 424,680 shares, compared to its average volume of 586,938. Modular Medical has a 12 month low of $0.28 and a 12 month high of $1.49. The company has a 50 day moving average of $0.45 and a two-hundred day moving average of $0.62.

Modular Medical (NASDAQ:MODD) last released its earnings results on Friday, November 14th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.04).

About Modular Medical

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.