Maven Securities LTD Takes $376,000 Position in Profound Medical Corp. (NASDAQ:PROF)

Maven Securities LTD bought a new stake in Profound Medical Corp. (NASDAQ:PROF) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $376,000. Maven Securities LTD owned 0.17% of Profound Medical at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Gagnon Securities LLC boosted its stake in shares of Profound Medical by 12.6% during the 4th quarter. Gagnon Securities LLC now owns 1,652,531 shares of the company’s stock valued at $12,411,000 after buying an additional 185,284 shares during the last quarter. Gagnon Advisors LLC lifted its position in shares of Profound Medical by 20.0% during the fourth quarter. Gagnon Advisors LLC now owns 896,671 shares of the company’s stock worth $6,734,000 after purchasing an additional 149,445 shares during the last quarter. Truist Financial Corp acquired a new position in Profound Medical in the fourth quarter worth about $376,000. Ring Mountain Capital LLC acquired a new stake in Profound Medical during the fourth quarter valued at approximately $2,087,000. Finally, Raymond James Financial Inc. bought a new position in Profound Medical during the 4th quarter worth approximately $6,577,000. 47.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PROF has been the subject of a number of research analyst reports. Lake Street Capital lowered their price target on Profound Medical from $17.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Raymond James cut shares of Profound Medical from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, May 9th.

Profound Medical Stock Down 0.2%

PROF stock opened at $4.27 on Wednesday. The firm’s 50-day moving average is $5.45 and its two-hundred day moving average is $6.69. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $128.33 million, a price-to-earnings ratio of -3.19 and a beta of 0.44. Profound Medical Corp. has a 52 week low of $3.90 and a 52 week high of $11.42.

Profound Medical (NASDAQ:PROF) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The firm had revenue of $2.62 million for the quarter, compared to analyst estimates of $4.78 million. Profound Medical had a negative net margin of 349.41% and a negative return on equity of 85.22%. On average, analysts forecast that Profound Medical Corp. will post -1.12 earnings per share for the current fiscal year.

Profound Medical Profile

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.