Apyx Medical Corp (NASDAQ:APYX) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,320,000 shares, an increase of 35.4% from the September 30th total of 974,700 shares. Approximately 4.4% of the shares of the company are short sold. Based on an average trading volume of 82,000 shares, the short-interest ratio is presently 16.1 days.
A number of equities analysts have commented on APYX shares. ValuEngine upgraded Apyx Medical from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 8th. Piper Jaffray Companies lifted their target price on Apyx Medical to $10.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Zacks Investment Research downgraded Apyx Medical from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $8.69.
Hedge funds and other institutional investors have recently modified their holdings of the company. Frisch Financial Group Inc. grew its position in Apyx Medical by 31.7% in the third quarter. Frisch Financial Group Inc. now owns 17,658 shares of the company’s stock valued at $120,000 after purchasing an additional 4,248 shares in the last quarter. Rhumbline Advisers grew its position in shares of Apyx Medical by 21.6% in the 3rd quarter. Rhumbline Advisers now owns 37,346 shares of the company’s stock valued at $253,000 after acquiring an additional 6,634 shares during the period. Vanguard Group Inc. grew its position in shares of Apyx Medical by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,366,256 shares of the company’s stock valued at $9,181,000 after acquiring an additional 35,899 shares during the period. BlackRock Inc. grew its position in shares of Apyx Medical by 372.5% in the 2nd quarter. BlackRock Inc. now owns 2,123,214 shares of the company’s stock valued at $14,268,000 after acquiring an additional 1,673,854 shares during the period. Finally, Northern Trust Corp grew its position in shares of Apyx Medical by 55.8% in the 2nd quarter. Northern Trust Corp now owns 158,309 shares of the company’s stock valued at $1,064,000 after acquiring an additional 56,694 shares during the period. Institutional investors and hedge funds own 50.79% of the company’s stock.
Apyx Medical (NASDAQ:APYX) last issued its earnings results on Monday, November 11th. The company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.05. The company had revenue of $7.58 million during the quarter, compared to the consensus estimate of $6.78 million. Apyx Medical had a negative return on equity of 14.88% and a net margin of 255.57%. The firm’s revenue was up 106.3% on a year-over-year basis. Analysts expect that Apyx Medical will post -0.66 EPS for the current fiscal year.
Apyx Medical Company Profile
Apyx Medical Corporation, a medical technology company, manufactures and sells medical devices in the cosmetic and surgical markets worldwide. It operates through two segments, Advanced Energy and original equipment manufacturing (OEM). The company develops J-Plasma, a patented plasma-based surgical product for cutting, coagulation, and ablation of soft tissue.
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