Modular Medical (NASDAQ:MODD) Releases Quarterly Earnings Results

Modular Medical (NASDAQ:MODD) announced its quarterly earnings data on Friday. The company reported ($1.19) earnings per share (EPS) for the quarter, Zacks reports.

Modular Medical Stock Up 33.2%

Shares of MODD stock traded up $0.62 during trading on Friday, reaching $2.49. The company had a trading volume of 145,974 shares, compared to its average volume of 277,620. Modular Medical has a one year low of $1.74 and a one year high of $30.00. The firm’s 50 day simple moving average is $3.60 and its two-hundred day simple moving average is $5.95.

Hedge Funds Weigh In On Modular Medical

Several large investors have recently added to or reduced their stakes in the company. Perritt Capital Management Inc boosted its holdings in Modular Medical by 34.2% during the third quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock valued at $59,000 after purchasing an additional 21,675 shares in the last quarter. Jane Street Group LLC raised its position in Modular Medical by 446.8% in the 4th quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock valued at $60,000 after purchasing an additional 133,969 shares during the last quarter. 683 Capital Management LLC raised its holdings in shares of Modular Medical by 79.4% in the fourth quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock valued at $642,000 after buying an additional 780,000 shares during the last quarter. Finally, Bleichroeder LP raised its stake in shares of Modular Medical by 41.9% in the fourth quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock worth $1,041,000 after acquiring an additional 845,000 shares during the last quarter. Institutional investors and hedge funds own 27.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Modular Medical in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

About Modular Medical

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.