Edap Tms SA (NASDAQ:EDAP) Sees Large Decline in Short Interest

Edap Tms SA (NASDAQ:EDAP) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 105,100 shares, a decline of 7.9% from the September 30th total of 114,100 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily volume of 170,200 shares, the days-to-cover ratio is currently 0.6 days.

A number of institutional investors have recently added to or reduced their stakes in EDAP. Russell Investments Group Ltd. lifted its holdings in shares of Edap Tms by 168.4% during the third quarter. Russell Investments Group Ltd. now owns 7,332 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 4,600 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Edap Tms by 25.0% during the third quarter. Commonwealth Equity Services LLC now owns 32,540 shares of the medical equipment provider’s stock valued at $146,000 after purchasing an additional 6,500 shares in the last quarter. Fosun International Ltd lifted its holdings in shares of Edap Tms by 9.4% during the second quarter. Fosun International Ltd now owns 397,568 shares of the medical equipment provider’s stock valued at $1,145,000 after purchasing an additional 34,083 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Edap Tms during the second quarter valued at $282,000. Finally, Susquehanna International Group LLP lifted its holdings in shares of Edap Tms by 762.9% during the second quarter. Susquehanna International Group LLP now owns 205,178 shares of the medical equipment provider’s stock valued at $556,000 after purchasing an additional 181,401 shares in the last quarter. 12.54% of the stock is currently owned by institutional investors and hedge funds.

Edap Tms stock opened at $4.94 on Tuesday. The business’s fifty day simple moving average is $4.67 and its two-hundred day simple moving average is $3.65. Edap Tms has a 12 month low of $1.35 and a 12 month high of $5.42. The company has a market capitalization of $140.35 million, a price-to-earnings ratio of 37.23 and a beta of 1.84.

Edap Tms (NASDAQ:EDAP) last released its earnings results on Wednesday, November 13th. The medical equipment provider reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). Edap Tms had a return on equity of 40.29% and a net margin of 7.61%. The company had revenue of $11.35 million during the quarter, compared to the consensus estimate of $13.15 million. On average, equities analysts expect that Edap Tms will post 0.18 EPS for the current fiscal year.

EDAP has been the topic of several analyst reports. Zacks Investment Research raised Edap Tms from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $6.50 target price on shares of Edap Tms in a report on Friday. Finally, ValuEngine downgraded Edap Tms from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.

About Edap Tms

EDAP TMS SA, together with its subsidiaries, develops, produces, markets, distributes, and maintains a portfolio of minimally-invasive medical devices for the treatment of urological diseases worldwide. The company operates in two divisions: High Intensity Focused Ultrasound (HIFU), and Urology Devices and Services (UDS).

Further Reading: Trading Penny Stocks

Receive News & Ratings for Edap Tms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edap Tms and related companies with MarketBeat.com's FREE daily email newsletter.