Modular Medical (NASDAQ:MODD) Shares Up 2.3% – Time to Buy?

Modular Medical, Inc. (NASDAQ:MODD) shares traded up 2.3% during trading on Friday . The company traded as high as $2.35 and last traded at $2.20. 207,095 shares traded hands during trading, a decline of 24% from the average daily volume of 273,822 shares. The stock had previously closed at $2.15.

Wall Street Analysts Forecast Growth

MODD has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Modular Medical in a research report on Wednesday, June 24th. Wall Street Zen raised Modular Medical from a “strong sell” rating to a “sell” rating in a report on Sunday, August 23rd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Modular Medical has an average rating of “Sell”.

Modular Medical Trading Up 2.3%

The stock’s fifty day moving average price is $2.85 and its 200 day moving average price is $4.15. The stock has a market cap of $17.93 million, a P/E ratio of -0.25 and a beta of 0.45.

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

Institutional Investors Weigh In On Modular Medical

A hedge fund recently raised its stake in Modular Medical stock. AWM Investment Company Inc. grew its position in shares of Modular Medical, Inc. (NASDAQ:MODD) by 20.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 441,095 shares of the company’s stock after purchasing an additional 74,429 shares during the quarter. AWM Investment Company Inc. owned approximately 7.38% of Modular Medical worth $1,985,000 as of its most recent SEC filing. Institutional investors own 27.47% of the company’s stock.

Modular Medical Company Profile

Modular Medical, Inc (NASDAQ:MODD) is a medical device company focused on developing and commercializing insulin-delivery technologies for people with diabetes. The company’s primary product is the MODD1 insulin pump, a wearable device designed to provide continuous subcutaneous insulin infusion.

The MODD1 system is intended to offer a simpler and more accessible alternative to traditional insulin pumps. Modular Medical has emphasized ease of use, streamlined operation and affordability as key elements of its product-development strategy, with the goal of expanding access to pump therapy among people who use insulin.

Modular Medical is based in the United States and has focused its development and regulatory efforts on the U.S.