Carlsmed, Inc. (NASDAQ:CARL) Short Interest Update

Carlsmed, Inc. (NASDAQ:CARL) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 776,702 shares, a growth of 23.4% from the March 15th total of 629,169 shares. Based on an average daily trading volume, of 107,201 shares, the days-to-cover ratio is currently 7.2 days. Currently, 2.9% of the company’s shares are short sold.

Hedge Funds Weigh In On Carlsmed

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. acquired a new stake in shares of Carlsmed in the third quarter valued at about $2,026,000. Teacher Retirement System of Texas acquired a new position in Carlsmed during the third quarter valued at approximately $2,343,000. Monashee Investment Management LLC acquired a new position in Carlsmed during the third quarter valued at approximately $536,000. Ghisallo Capital Management LLC bought a new position in Carlsmed in the third quarter valued at approximately $670,000. Finally, Kornitzer Capital Management Inc. KS acquired a new position in shares of Carlsmed during the 3rd quarter worth approximately $736,000.

Analyst Ratings Changes

Several research firms have recently issued reports on CARL. Wall Street Zen upgraded Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, February 14th. The Goldman Sachs Group lowered their target price on shares of Carlsmed from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Weiss Ratings reissued a “sell (e-)” rating on shares of Carlsmed in a research report on Monday, December 22nd. Truist Financial lowered their price objective on shares of Carlsmed from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Zacks Research upgraded Carlsmed from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.67.

Carlsmed Stock Performance

Shares of CARL stock opened at $10.98 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.74 and a current ratio of 8.87. Carlsmed has a 52 week low of $8.50 and a 52 week high of $17.19. The company’s 50 day moving average price is $11.20 and its two-hundred day moving average price is $12.49. The company has a market capitalization of $293.50 million and a P/E ratio of -3.00.

Carlsmed (NASDAQ:CARL) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.11. Carlsmed had a negative net margin of 58.67% and a negative return on equity of 72.60%. The company had revenue of $15.16 million during the quarter, compared to analysts’ expectations of $15.20 million.

Carlsmed Company Profile

We are a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient’s unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”).