PMI (NYSEAMERICAN:PMI) Short Interest Up 358.0% in July

PMI (NYSEAMERICAN:PMI) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 15,397,813 shares, an increase of 358.0% from the June 30th total of 3,361,606 shares. Currently, 15.0% of the company’s stock are sold short. Based on an average daily trading volume, of 55,747,477 shares, the days-to-cover ratio is currently 0.3 days.

PMI Stock Up 4,893.7%

NYSEAMERICAN:PMI opened at $4.39 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.75 and a quick ratio of 0.16. The company’s 50 day moving average is $0.26. PMI has a 52 week low of $0.09 and a 52 week high of $13.68.

PMI shares are going to reverse split before the market opens on Monday, August 3rd. The 1-50 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 2nd.

PMI (NYSEAMERICAN:PMI) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.10) earnings per share (EPS) for the quarter. The company had revenue of $1.15 million during the quarter. As a group, sell-side analysts anticipate that PMI will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PMI shares. HC Wainwright reaffirmed a “neutral” rating on shares of PMI in a report on Wednesday, June 3rd. Zacks Research upgraded PMI to a “hold” rating in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, PMI presently has an average rating of “Hold”.

About PMI

Picard Medical Inc is a medical technology company which manufactures and sells the only total artificial heart. Picard Medical Inc is based in TUCSON, Ariz.