Sensus Healthcare (NASDAQ:SRTS) Share Price Breaks Below 50-Day Moving Average After Earnings Miss

Sensus Healthcare, Inc. (NASDAQ:SRTS)’s stock price passed below its 50-day moving average during trading on Friday after the company announced weaker than expected quarterly earnings. The stock has a 50-day moving average of $2.98 and traded as low as $2.31. Sensus Healthcare shares last traded at $2.33, with a volume of 194,505 shares.

The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Sensus Healthcare had a negative net margin of 96.49% and a negative return on equity of 23.79%. The firm had revenue of $6.00 million during the quarter, compared to analyst estimates of $6.61 million.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Lake Street Capital dropped their price target on shares of Sensus Healthcare from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Weiss Ratings downgraded shares of Sensus Healthcare from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Sensus Healthcare in a research note on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sensus Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.83.

Insider Activity at Sensus Healthcare

In other news, Director Eric Sachetta purchased 37,537 shares of the stock in a transaction dated Friday, August 28th. The shares were purchased at an average price of $3.44 per share, with a total value of $129,127.28. Following the transaction, the director owned 267,480 shares in the company, valued at $920,131.20. The trade was a 16.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders acquired 120,171 shares of company stock worth $405,230. 10.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SRTS. Bank of New York Mellon Corp purchased a new position in shares of Sensus Healthcare during the 2nd quarter worth $303,000. BlackRock Inc. acquired a new position in Sensus Healthcare in the second quarter valued at about $252,000. Finally, EP Wealth Advisors LLC acquired a new position in Sensus Healthcare in the second quarter valued at about $49,000. 25.30% of the stock is currently owned by hedge funds and other institutional investors.

Sensus Healthcare Price Performance

The company has a market cap of $38.35 million, a PE ratio of -2.40 and a beta of 1.18. The company’s 50 day simple moving average is $2.98 and its two-hundred day simple moving average is $3.45.

About Sensus Healthcare

Sensus Healthcare, Inc. is a medical device company focused on non-invasive treatment technologies for dermatologic and oncologic conditions. The company develops and commercializes superficial radiotherapy systems designed to deliver low-energy X-rays to targeted areas of the skin. Its principal products include the SRT-100 and SRT-100 Vision systems, which are used by physicians to treat non-melanoma skin cancers, including basal cell and squamous cell carcinomas, as well as keloids. The systems are intended to provide an alternative to certain surgical procedures and are used in dermatology, radiation oncology and other clinical settings.