SeaStar Medical Holding Corporation (NASDAQ:ICU) Sees Large Decrease in Short Interest

SeaStar Medical Holding Corporation (NASDAQ:ICU) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 81,907 shares, a decrease of 36.7% from the June 15th total of 129,310 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 74,907 shares, the days-to-cover ratio is presently 1.1 days.

SeaStar Medical Trading Down 5.2%

Shares of ICU stock traded down $0.22 during trading on Friday, hitting $4.00. The company’s stock had a trading volume of 76,997 shares, compared to its average volume of 110,786. The company has a market cap of $16 million, a PE ratio of -0.83 and a beta of -1.05. The business has a fifty day moving average of $3.82 and a 200-day moving average of $3.27. SeaStar Medical has a 52 week low of $2.07 and a 52 week high of $12.50.

SeaStar Medical (NASDAQ:ICU) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.08). SeaStar Medical had a negative return on equity of 146.29% and a negative net margin of 828.62%.The business had revenue of $0.49 million during the quarter, compared to analysts’ expectations of $0.44 million. As a group, research analysts predict that SeaStar Medical will post -3.58 EPS for the current year.

Institutional Trading of SeaStar Medical

A number of large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new position in SeaStar Medical in the third quarter valued at about $102,000. Jane Street Group LLC purchased a new stake in shares of SeaStar Medical during the 4th quarter worth approximately $30,000. Finally, XTX Topco Ltd increased its stake in shares of SeaStar Medical by 395.4% during the 2nd quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock worth $26,000 after purchasing an additional 48,674 shares during the last quarter. Hedge funds and other institutional investors own 1.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ICU shares. Weiss Ratings restated a “sell (e+)” rating on shares of SeaStar Medical in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of SeaStar Medical from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Maxim Group set a $8.00 price target on shares of SeaStar Medical and gave the company a “buy” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, SeaStar Medical currently has a consensus rating of “Hold” and an average target price of $8.00.

About SeaStar Medical

SeaStar Medical, Inc (NASDAQ: ICU) is a medical device company focused on the development and commercialization of cerebral embolic protection systems for patients undergoing transcatheter aortic valve replacement (TAVR) procedures. The company’s mission is to reduce the risk of stroke and other neurologic events associated with structural heart interventions by capturing or deflecting embolic debris that can travel to the brain during catheter-based therapies.

The company’s flagship product, TriGUARD® 3, is a next-generation embolic deflection device designed to provide coverage of all three cerebral vessels during TAVR.