Short Interest in Dextera Surgical Inc. (DXTR) Expands By 348.1%

Dextera Surgical Inc. (NASDAQ:DXTR) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 4,079,326 shares, an increase of 348.1% from the June 15th total of 910,430 shares. Approximately 10.7% of the company’s stock are short sold. Based on an average trading volume of 18,625,802 shares, the days-to-cover ratio is presently 0.2 days.

A hedge fund recently bought a new stake in Dextera Surgical stock. Perkins Capital Management Inc. bought a new stake in shares of Dextera Surgical Inc. (NASDAQ:DXTR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 333,983 shares of the medical instruments supplier’s stock, valued at approximately $100,000. Perkins Capital Management Inc. owned about 3.74% of Dextera Surgical as of its most recent filing with the SEC. 7.19% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently issued reports on DXTR shares. Zacks Investment Research lowered shares of Dextera Surgical from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. Wedbush reduced their target price on shares of Dextera Surgical from $3.50 to $0.70 and set an “outperform” rating for the company in a research note on Wednesday, July 12th.

Shares of Dextera Surgical (NASDAQ DXTR) traded down 6.8387% during trading on Tuesday, hitting $0.2888. 3,822,504 shares of the company were exchanged. The company has a 50 day moving average of $0.27 and a 200-day moving average of $0.77. The stock’s market capitalization is $2.58 million. Dextera Surgical has a 1-year low of $0.17 and a 1-year high of $2.65.

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About Dextera Surgical

Dextera Surgical Inc, formerly Cardica, Inc, designs and manufactures stapling devices that enable the advancement of minimally invasive surgical procedures. The Company is engaged in commercializing and developing its MicroCutter 5/80 stapler based on its staple-on-a-strip technology for use by thoracic, pediatric, bariatric, colorectal and general surgeons.

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