Modular Medical (NASDAQ:MODD) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Modular Medical (NASDAQ:MODD) to a strong sell rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings reaffirmed 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, Based on data from MarketBeat.com, Modular Medical currently has a consensus rating of “Sell”.

Modular Medical Stock Performance

Shares of NASDAQ:MODD opened at $2.49 on Friday. The firm has a market cap of $14.89 million, a price-to-earnings ratio of -0.17 and a beta of 0.37. The firm has a fifty day moving average price of $3.60 and a 200 day moving average price of $5.95. Modular Medical has a fifty-two week low of $1.74 and a fifty-two week high of $30.00.

Modular Medical (NASDAQ:MODD) last announced its quarterly earnings results on Friday, August 14th. The company reported ($1.19) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MODD. 683 Capital Management LLC raised its position in Modular Medical by 79.4% in the 4th quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock worth $642,000 after purchasing an additional 780,000 shares during the period. Bleichroeder LP lifted its stake in 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 purchasing an additional 845,000 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Modular Medical by 446.8% during the fourth quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock valued at $60,000 after buying an additional 133,969 shares during the period. Perritt Capital Management Inc boosted its position in shares of 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 buying an additional 21,675 shares during the period. Finally, AWM Investment Company Inc. grew its stake in shares of Modular Medical by 20.3% during the second quarter. AWM Investment Company Inc. now owns 441,095 shares of the company’s stock valued at $1,985,000 after buying an additional 74,429 shares during the last quarter. Institutional investors own 27.47% of the company’s stock.

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.