Surgalign Holdings, Inc. (NASDAQ:SRGA) Short Interest Up 41.5% in April

Surgalign Holdings, Inc. (NASDAQ:SRGAGet Rating) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 4,640,000 shares, a growth of 41.5% from the March 31st total of 3,280,000 shares. Based on an average trading volume of 3,040,000 shares, the short-interest ratio is currently 1.5 days.

In other news, insider William Scott Durall bought 217,391 shares of Surgalign stock in a transaction that occurred on Tuesday, February 15th. The shares were acquired at an average price of $0.46 per share, with a total value of $99,999.86. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Terry M. Rich purchased 434,784 shares of the stock in a transaction on Tuesday, February 15th. The stock was acquired at an average cost of $0.46 per share, with a total value of $200,000.64. The disclosure for this purchase can be found here. Corporate insiders own 11.00% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Surgalign by 26.0% during the fourth quarter. State Street Corp now owns 5,789,342 shares of the company’s stock valued at $4,147,000 after purchasing an additional 1,194,047 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Surgalign by 76.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,296,922 shares of the company’s stock worth $2,601,000 after buying an additional 1,428,900 shares in the last quarter. Morgan Stanley raised its holdings in Surgalign by 205.5% in the 2nd quarter. Morgan Stanley now owns 2,804,186 shares of the company’s stock worth $3,897,000 after acquiring an additional 1,886,281 shares during the last quarter. Geode Capital Management LLC lifted its position in Surgalign by 25.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,175,938 shares of the company’s stock valued at $1,281,000 after acquiring an additional 238,675 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Surgalign by 59.6% during the 4th quarter. HighTower Advisors LLC now owns 803,500 shares of the company’s stock valued at $576,000 after purchasing an additional 300,000 shares during the last quarter. 46.84% of the stock is currently owned by institutional investors and hedge funds.

SRGA stock traded down $0.01 during trading on Friday, reaching $0.19. The company had a trading volume of 1,416,614 shares, compared to its average volume of 1,675,681. Surgalign has a 52 week low of $0.19 and a 52 week high of $1.98. The company has a market cap of $37.84 million, a P/E ratio of -0.28 and a beta of 2.11. The business has a 50 day moving average of $0.29 and a 200 day moving average of $0.61. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.96 and a quick ratio of 1.47.

Surgalign (NASDAQ:SRGAGet Rating) last announced its quarterly earnings data on Tuesday, March 15th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $21.83 million during the quarter. Surgalign had a negative return on equity of 137.32% and a negative net margin of 93.54%. During the same period in the prior year, the business posted ($0.22) EPS.

SRGA has been the subject of a number of analyst reports. Zacks Investment Research raised Surgalign from a “sell” rating to a “hold” rating in a research note on Thursday, January 13th. Lake Street Capital set a $1.00 price target on shares of Surgalign in a report on Monday, February 14th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Surgalign has a consensus rating of “Buy” and a consensus target price of $1.95.

About Surgalign (Get Rating)

Surgalign Holdings, Inc, a medical technology company, develops, manufactures, distributes, and markets spine implants worldwide. It offers products for thoracolumbar procedures, including Streamline TL Spinal Fixation system, a system for degenerative and complex spine procedures; and Streamline MIS Spinal Fixation system, a range of implants and instruments used via a percutaneous or mini-open approach; and interbody fusion devices, as well as products for cervical procedures, such as CervAlign ACP system, a comprehensive anterior cervical plate system; Fortilink-C IBF system, a cervical interbody fusion device that utilizes TETRAfuse 3D technology; and Streamline OCT system, a range of implants used in the occipito-cervico-thoracic posterior spine.

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