Titan Medical Inc. (NASDAQ:TMDI) Short Interest Update

Titan Medical Inc. (NASDAQ:TMDIGet Rating) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 290,400 shares, a drop of 42.8% from the March 31st total of 507,300 shares. Based on an average daily volume of 240,900 shares, the short-interest ratio is presently 1.2 days.

Several hedge funds and other institutional investors have recently bought and sold shares of TMDI. Essex LLC raised its position in Titan Medical by 11.4% in the 4th quarter. Essex LLC now owns 1,654,183 shares of the company’s stock worth $1,090,000 after purchasing an additional 169,600 shares during the period. Masters Capital Management LLC raised its position in Titan Medical by 50.0% in the 3rd quarter. Masters Capital Management LLC now owns 1,500,000 shares of the company’s stock worth $2,280,000 after purchasing an additional 500,000 shares during the period. Renaissance Technologies LLC raised its position in Titan Medical by 211.0% in the 4th quarter. Renaissance Technologies LLC now owns 266,831 shares of the company’s stock worth $167,000 after purchasing an additional 181,046 shares during the period. Morgan Stanley raised its position in Titan Medical by 79.4% in the 2nd quarter. Morgan Stanley now owns 222,207 shares of the company’s stock worth $380,000 after purchasing an additional 98,374 shares during the period. Finally, Citadel Advisors LLC purchased a new position in Titan Medical in the 4th quarter worth $124,000. 4.38% of the stock is owned by institutional investors.

Several research analysts have commented on TMDI shares. Oppenheimer downgraded shares of Titan Medical from an “outperform” rating to a “market perform” rating in a report on Friday, March 25th. Zacks Investment Research downgraded shares of Titan Medical from a “buy” rating to a “hold” rating in a report on Tuesday, January 18th.

NASDAQ TMDI opened at $0.44 on Friday. Titan Medical has a 52-week low of $0.38 and a 52-week high of $2.15. The company has a market capitalization of $48.37 million, a P/E ratio of -2.72 and a beta of 2.88. The company has a fifty day moving average of $0.52 and a 200-day moving average of $0.76.

Titan Medical (NASDAQ:TMDIGet Rating) last posted its quarterly earnings data on Thursday, March 24th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. The company had revenue of $10.00 million for the quarter, compared to the consensus estimate of $11.00 million. As a group, sell-side analysts predict that Titan Medical will post -0.39 earnings per share for the current fiscal year.

Titan Medical Company Profile (Get Rating)

Titan Medical Inc, a medical technology company, focuses on the development and commercialization of robotic assisted surgical technologies for application in minimally invasive surgery. It is developing the Enos system, a robotic single access surgical system that includes a surgeon-controlled patient cart comprising a 3D high-definition vision system and multi-articulating instruments for performing surgical procedures; and a surgeon workstation that provides the surgeon with ergonomic interface to the patient cart and a 3D endoscopic view inside the patient's body during surgical procedures.

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