Paragon 28, Inc. (NYSE:FNA) Short Interest Update

Paragon 28, Inc. (NYSE:FNA) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 4,520,000 shares, a decline of 33.3% from the October 31st total of 6,780,000 shares. Currently, 11.7% of the company’s stock are short sold. Based on an average trading volume of 559,500 shares, the days-to-cover ratio is currently 8.1 days.

Analyst Ratings Changes

Several brokerages have recently commented on FNA. Piper Sandler reaffirmed an “overweight” rating and set a $12.00 price target (down from $15.00) on shares of Paragon 28 in a research report on Friday, August 9th. Canaccord Genuity Group lowered their price target on Paragon 28 from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Needham & Company LLC boosted their price target on Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $15.60.

Paragon 28 Price Performance

Shares of Paragon 28 stock traded up $0.32 during trading on Friday, hitting $10.31. The stock had a trading volume of 340,834 shares, compared to its average volume of 849,226. The firm has a market cap of $863.15 million, a P/E ratio of -13.93 and a beta of 1.01. Paragon 28 has a fifty-two week low of $4.65 and a fifty-two week high of $14.79. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60. The business has a fifty day moving average of $7.02 and a two-hundred day moving average of $7.28.

Paragon 28 (NYSE:FNA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. The company had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. During the same quarter last year, the company earned ($0.10) EPS. The company’s quarterly revenue was up 18.0% on a year-over-year basis. On average, sell-side analysts expect that Paragon 28 will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 147,581 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $10.28, for a total value of $1,517,132.68. Following the sale, the insider now directly owns 10,738,564 shares in the company, valued at $110,392,437.92. This represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 234,805 shares of company stock valued at $2,401,889 in the last 90 days. 15.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Paragon 28

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in Paragon 28 by 46,660.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock valued at $32,000 after purchasing an additional 4,666 shares in the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of Paragon 28 in the 2nd quarter worth $68,000. Intech Investment Management LLC bought a new stake in shares of Paragon 28 in the 3rd quarter worth $70,000. Price T Rowe Associates Inc. MD grew its stake in shares of Paragon 28 by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock worth $156,000 after acquiring an additional 1,766 shares in the last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of Paragon 28 in the 3rd quarter worth $91,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

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.