Modular Medical Stock Scheduled to Reverse Split on Tuesday, March 31st (NASDAQ:MODD)

Modular Medical, Inc. (NASDAQ:MODD)’s stock is going to reverse split on the morning of Tuesday, March 31st. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, March 30th.

Modular Medical Stock Down 9.8%

MODD stock traded down $0.02 during trading on Friday, reaching $0.16. 2,669,315 shares of the company were exchanged, compared to its average volume of 2,068,341. The stock’s 50 day moving average price is $0.35 and its 200 day moving average price is $0.46. Modular Medical has a 52-week low of $0.12 and a 52-week high of $1.16.

Modular Medical (NASDAQ:MODD) last issued its earnings results on Tuesday, February 17th. The company reported ($0.11) earnings per share for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Modular Medical in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Modular Medical currently has an average rating of “Sell”.

Hedge Funds Weigh In On Modular Medical

Several hedge funds have recently bought and sold shares of MODD. Warberg Asset Management LLC purchased a new position in Modular Medical during the third quarter worth $31,000. Perritt Capital Management Inc lifted its position in shares of Modular Medical by 34.2% in the third quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock valued at $59,000 after acquiring an additional 21,675 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Modular Medical by 446.8% during the fourth quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock valued at $60,000 after acquiring an additional 133,969 shares during the last quarter. Sio Capital Management LLC boosted its stake in shares of Modular Medical by 211.8% during the second quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock valued at $585,000 after acquiring an additional 533,834 shares during the last quarter. Finally, 683 Capital Management LLC increased its position in Modular Medical by 79.4% during the 4th quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock worth $642,000 after purchasing an additional 780,000 shares in the last quarter. Hedge funds and other institutional investors own 27.47% of the company’s stock.

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.