Paragon 28, Inc. (NYSE:FNA) Short Interest Up 14.0% in June

Paragon 28, Inc. (NYSE:FNA) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 5,300,000 shares, a growth of 14.0% from the May 31st total of 4,650,000 shares. Based on an average trading volume of 720,500 shares, the short-interest ratio is currently 7.4 days. Approximately 14.3% of the company’s stock are sold short.

Paragon 28 Trading Down 1.8 %

Shares of FNA traded down $0.12 during mid-day trading on Wednesday, reaching $6.50. 51,314 shares of the company’s stock were exchanged, compared to its average volume of 614,631. The business’s fifty day simple moving average is $7.65 and its 200-day simple moving average is $10.27. Paragon 28 has a 52-week low of $5.55 and a 52-week high of $18.50. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.78 and a current ratio of 3.57.

Paragon 28 (NYSE:FNA) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). Paragon 28 had a negative net margin of 24.45% and a negative return on equity of 27.72%. The business had revenue of $61.08 million during the quarter. Sell-side analysts anticipate that Paragon 28 will post -0.58 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JMP Securities dropped their target price on Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating on the stock in a report on Thursday, May 9th. Needham & Company LLC dropped their price objective on Paragon 28 from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Piper Sandler restated an “overweight” rating and set a $15.00 target price (down previously from $18.00) on shares of Paragon 28 in a research note on Thursday, May 9th. Finally, Stephens reaffirmed an “overweight” rating and issued a $18.00 price target on shares of Paragon 28 in a report on Friday, April 5th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $16.75.

Institutional Trading of Paragon 28

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its position in Paragon 28 by 29.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,199,819 shares of the company’s stock worth $14,818,000 after buying an additional 273,077 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Paragon 28 by 16.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock worth $156,000 after purchasing an additional 1,766 shares in the last quarter. Vanguard Group Inc. lifted its position in Paragon 28 by 2.7% in the first quarter. Vanguard Group Inc. now owns 2,106,217 shares of the company’s stock valued at $26,012,000 after purchasing an additional 55,851 shares during the period. Inspire Investing LLC purchased a new stake in Paragon 28 in the 1st quarter valued at approximately $361,000. Finally, Swiss National Bank boosted its holdings in Paragon 28 by 12.7% in the 1st quarter. Swiss National Bank now owns 73,400 shares of the company’s stock valued at $906,000 after purchasing an additional 8,300 shares in the last quarter. 63.57% of the stock is owned by hedge funds and other institutional investors.

About Paragon 28

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.