SeaStar Medical Holding Corporation (NASDAQ:ICU) Short Interest Update

SeaStar Medical Holding Corporation (NASDAQ:ICU) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 81,907 shares, a drop of 36.7% from the June 15th total of 129,310 shares. Approximately 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 74,907 shares, the days-to-cover ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ICU. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SeaStar Medical in a report on Tuesday, April 21st. Maxim Group set a $8.00 price target on shares of SeaStar Medical and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Wall Street Zen lowered shares of SeaStar Medical from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.00.

Institutional Investors Weigh In On SeaStar Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC purchased a new position in shares of SeaStar Medical in the third quarter valued at $102,000. Jane Street Group LLC purchased a new position in SeaStar Medical during the 4th quarter valued at about $30,000. Finally, XTX Topco Ltd increased its position in shares of SeaStar Medical by 395.4% during the second quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock valued at $26,000 after buying an additional 48,674 shares during the period. Institutional investors own 1.69% of the company’s stock.

SeaStar Medical Price Performance

Shares of SeaStar Medical stock traded down $0.09 during trading hours on Friday, hitting $4.13. 51,673 shares of the company’s stock traded hands, compared to its average volume of 124,837. The company has a fifty day simple moving average of $3.83 and a 200-day simple moving average of $3.26. The stock has a market capitalization of $16.54 million, a price-to-earnings ratio of -0.86 and a beta of -1.05. SeaStar Medical has a 12-month low of $2.07 and a 12-month high of $12.50.

SeaStar Medical (NASDAQ:ICU) last released its earnings results on Wednesday, May 13th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.08). SeaStar Medical had a negative net margin of 828.62% and a negative return on equity of 146.29%. The company had revenue of $0.49 million during the quarter, compared to analysts’ expectations of $0.44 million. On average, analysts forecast that SeaStar Medical will post -3.58 EPS for the current fiscal year.

About SeaStar Medical

SeaStar Medical, Inc (NASDAQ: ICU) is a medical device company focused on the development and commercialization of cerebral embolic protection systems for patients undergoing transcatheter aortic valve replacement (TAVR) procedures. The company’s mission is to reduce the risk of stroke and other neurologic events associated with structural heart interventions by capturing or deflecting embolic debris that can travel to the brain during catheter-based therapies.

The company’s flagship product, TriGUARD® 3, is a next-generation embolic deflection device designed to provide coverage of all three cerebral vessels during TAVR.