GlucoTrack, Inc. (NASDAQ:GCTK) Sees Significant Growth in Short Interest

GlucoTrack, Inc. (NASDAQ:GCTK) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 2,388,682 shares, an increase of 368.1% from the June 30th total of 510,338 shares. Based on an average daily volume of 11,948,792 shares, the short-interest ratio is presently 0.2 days. Currently, 31.7% of the shares of the company are sold short.

Institutional Trading of GlucoTrack

A number of institutional investors and hedge funds have recently made changes to their positions in GCTK. Ikarian Capital LLC acquired a new position in shares of GlucoTrack during the 4th quarter worth approximately $177,000. Boothbay Fund Management LLC acquired a new stake in GlucoTrack in the 4th quarter valued at $52,000. Finally, Bank of America Corp DE grew its stake in GlucoTrack by 102,125.0% in the 2nd quarter. Bank of America Corp DE now owns 4,089 shares of the company’s stock valued at $25,000 after acquiring an additional 4,085 shares during the period. 10.92% of the stock is currently owned by hedge funds and other institutional investors.

GlucoTrack Price Performance

NASDAQ GCTK traded down $0.02 during trading hours on Friday, reaching $0.29. The company’s stock had a trading volume of 273,849 shares, compared to its average volume of 8,697,584. The firm has a market capitalization of $2.25 million, a price-to-earnings ratio of -0.02 and a beta of 0.77. GlucoTrack has a 1-year low of $0.29 and a 1-year high of $14.14. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50-day moving average is $0.45 and its two-hundred day moving average is $1.24.

Analysts Set New Price Targets

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GlucoTrack in a report on Friday, July 17th. Wall Street Zen lowered shares of GlucoTrack to a “strong sell” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

About GlucoTrack

GlucoTrack, Inc, a medical device company, focused on the design, development, and commercialization of novel technologies for people with diabetes in the United States. It develops GlucoTrack, a noninvasive glucose monitoring device that helps people with diabetes and pre-diabetics to obtain blood glucose level readings without the pain. The company was formerly known as Integrity Applications, Inc and changed its name to GlucoTrack, Inc in November 2021. GlucoTrack, Inc was founded in 2001 and is based in Rutherford, New Jersey.