Nephros Inc. (NASDAQ:NEPH) Stock Short Interest Declines 45.5%

Nephros Inc. (NASDAQ:NEPH) saw a large decrease in short interest in September. As of September 30th, there was short interest totaling 25,302 shares, a decrease of 45.5% from the September 15th total of 46,400 shares. Based on an average daily volume of 18,272 shares, the short-interest ratio is currently 1.4 days. Approximately 0.2% of the company’s shares are short sold.

Nephros Price Performance

NEPH traded up $0.14 during midday trading on Friday, reaching $3.65. 45,997 shares of the company’s stock traded hands, compared to its average volume of 38,543. The firm has a fifty day moving average of $4.10 and a two-hundred day moving average of $3.60. The stock has a market capitalization of $39.68 million, a price-to-earnings ratio of 22.81 and a beta of 1.64. Nephros has a 52 week low of $2.66 and a 52 week high of $6.42.

Nephros (NASDAQ:NEPH) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter. Nephros had a return on equity of 10.60% and a net margin of 8.38%. The firm had revenue of $6.02 million for the quarter, compared to analyst estimates of $4.99 million. Sell-side analysts forecast that Nephros will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Nephros

Several large investors have recently made changes to their positions in NEPH. Cornerstone Capital Inc. purchased a new stake in Nephros during the second quarter valued at $459,000. Bard Associates Inc. bought a new stake in shares of Nephros during the 2nd quarter valued at about $421,000. Navellier & Associates Inc. increased its position in shares of Nephros by 179.6% during the 2nd quarter. Navellier & Associates Inc. now owns 53,479 shares of the company’s stock valued at $191,000 after purchasing an additional 34,353 shares during the last quarter. BlackRock Inc. bought a new position in shares of Nephros in the 2nd quarter worth approximately $67,000. Finally, De Lisle Partners LLP bought a new position in shares of Nephros in the 2nd quarter worth approximately $62,000. 41.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on NEPH. Zacks Research upgraded Nephros to a “hold” rating in a report on Monday, July 20th. Northland Securities started coverage on Nephros in a research report on Friday, July 17th. They set a “market perform” rating and a $4.00 price target on the stock. Weiss Ratings raised Nephros from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Finally, Benchmark reiterated a “speculative buy” rating on shares of Nephros in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.00.

Nephros Company Profile

Nephros, Inc is a medical device company that develops and sells filtration products for healthcare and commercial applications. Its primary focus is point-of-use water filtration systems designed to help reduce bacteria, including waterborne pathogens such as Legionella, in hospitals, long-term care facilities, and other healthcare settings.

The company’s product portfolio includes disposable and durable water filtration systems intended for use at sinks, showers, and other water outlets.