Profound Medical (NASDAQ:PROF) Trading Down 1.7% – Time to Sell?

Shares of Profound Medical (NASDAQ:PROF) were down 1.7% during mid-day trading on Friday . The company traded as low as $5.94 and last traded at $6.19. Approximately 235,931 shares traded hands during trading, a decline of 39% from the average daily volume of 386,747 shares. The stock had previously closed at $6.30.

Wall Street Analyst Weigh In

PROF has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Profound Medical in a research report on Monday, December 29th. Lake Street Capital increased their price target on Profound Medical from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.00.

Profound Medical Stock Performance

The company has a fifty day moving average price of $6.69 and a two-hundred day moving average price of $6.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 12.52 and a quick ratio of 11.17. The company has a market capitalization of $224.64 million, a P/E ratio of -4.39 and a beta of 0.62.

Profound Medical (NASDAQ:PROF) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.27) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.27). Profound Medical had a negative return on equity of 90.28% and a negative net margin of 264.45%.The business had revenue of $5.98 million during the quarter, compared to the consensus estimate of $10.53 million. Equities analysts forecast that Profound Medical will post -1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PROF. TD Waterhouse Canada Inc. boosted its position in shares of Profound Medical by 2.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 77,493 shares of the company’s stock valued at $582,000 after purchasing an additional 2,200 shares in the last quarter. Thompson Davis & CO. Inc. increased its holdings in Profound Medical by 3.3% in the second quarter. Thompson Davis & CO. Inc. now owns 210,495 shares of the company’s stock worth $1,242,000 after purchasing an additional 6,645 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Profound Medical by 56.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,727 shares of the company’s stock worth $147,000 after purchasing an additional 6,787 shares in the last quarter. MMCAP International Inc. SPC lifted its stake in Profound Medical by 2.0% in the third quarter. MMCAP International Inc. SPC now owns 500,859 shares of the company’s stock valued at $2,449,000 after buying an additional 10,000 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of Profound Medical by 7.3% during the 3rd quarter. National Bank of Canada FI now owns 172,883 shares of the company’s stock worth $845,000 after buying an additional 11,704 shares in the last quarter. 47.86% of the stock is owned by institutional investors.

Profound Medical Company Profile

Profound Medical Corp is a medical technology company headquartered in Toronto, Canada, that specializes in the development and commercialization of minimally invasive therapeutic solutions using magnetic resonance–guided ultrasound ablation. The company’s proprietary platform delivers focused ultrasound energy to targeted tissue under real-time MR imaging, offering a non-incisional alternative to traditional surgical approaches.

The company’s lead product, the TULSA-PRO system, is designed for the treatment of prostate conditions, including localized prostate cancer and benign prostatic hyperplasia.