Modular Medical, Inc. (NASDAQ:MODD) Sees Significant Decline in Short Interest

Modular Medical, Inc. (NASDAQ:MODD) was the target of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 362,500 shares, a decrease of 13.5% from the November 30th total of 419,200 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average trading volume of 168,600 shares, the short-interest ratio is presently 2.2 days.

Modular Medical Trading Down 0.0 %

MODD stock traded down $0.00 during midday trading on Tuesday, reaching $1.39. The stock had a trading volume of 18,427 shares, compared to its average volume of 229,775. Modular Medical has a 52-week low of $1.08 and a 52-week high of $2.65. The company’s fifty day simple moving average is $1.85 and its 200 day simple moving average is $1.84. The company has a market cap of $48.22 million, a price-to-earnings ratio of -2.21 and a beta of 0.46.

Insiders Place Their Bets

In other news, CEO Manchester Management Co Llc bought 166,666 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $1.50 per share, for a total transaction of $249,999.00. Following the completion of the transaction, the chief executive officer now directly owns 3,284,743 shares in the company, valued at $4,927,114.50. The trade was a 5.35 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders bought 287,666 shares of company stock worth $454,279. Company insiders own 32.34% of the company’s stock.

Hedge Funds Weigh In On Modular Medical

Several hedge funds and other institutional investors have recently modified their holdings of MODD. Virtu Financial LLC purchased a new position in Modular Medical in the 3rd quarter worth approximately $44,000. Renaissance Technologies LLC acquired a new stake in shares of Modular Medical in the second quarter valued at approximately $40,000. Walleye Capital LLC lifted its position in Modular Medical by 299.8% during the third quarter. Walleye Capital LLC now owns 75,418 shares of the company’s stock worth $170,000 after buying an additional 56,552 shares in the last quarter. State Street Corp boosted its stake in Modular Medical by 285.8% during the third quarter. State Street Corp now owns 76,000 shares of the company’s stock worth $171,000 after buying an additional 56,300 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Modular Medical by 45.0% in the 3rd quarter. Geode Capital Management LLC now owns 306,440 shares of the company’s stock valued at $690,000 after buying an additional 95,072 shares in the last quarter. 27.47% of the stock is owned by hedge funds and other institutional investors.

Modular Medical Company Profile

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.