SeaSpine Holdings Co. (NASDAQ:SPNE) Short Interest Update

SeaSpine Holdings Co. (NASDAQ:SPNE – Get Rating) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 700,500 shares, an increase of 33.7% from the March 31st total of 523,800 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily trading volume, of 91,400 shares, the days-to-cover ratio is presently 7.7 days.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Citigroup Inc. raised its stake in shares of SeaSpine by 135.5% during the 3rd quarter. Citigroup Inc. now owns 3,561 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 2,049 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of SeaSpine during the 3rd quarter worth approximately $71,000. BNP Paribas Arbitrage SA raised its stake in shares of SeaSpine by 430.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,065 shares of the medical equipment provider’s stock worth $95,000 after buying an additional 4,922 shares in the last quarter. Stonepine Capital Management LLC acquired a new stake in shares of SeaSpine in the 3rd quarter worth approximately $131,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of SeaSpine in the 4th quarter worth approximately $163,000. 73.10% of the stock is owned by hedge funds and other institutional investors.

SPNE opened at $9.31 on Monday. SeaSpine has a 12 month low of $9.00 and a 12 month high of $22.24. The business has a fifty day moving average price of $11.43 and a 200 day moving average price of $12.73.

SeaSpine (NASDAQ:SPNE – Get Rating) last released its quarterly earnings data on Friday, March 11th. The medical equipment provider reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.16). The business had revenue of $55.59 million for the quarter, compared to analyst estimates of $54.86 million. SeaSpine had a negative return on equity of 21.26% and a negative net margin of 28.39%. As a group, research analysts forecast that SeaSpine will post -1.3 EPS for the current fiscal year.

SPNE has been the topic of a number of analyst reports. Zacks Investment Research downgraded SeaSpine from a “buy” rating to a “hold” rating in a research report on Saturday, January 29th. Stifel Nicolaus reduced their price objective on SeaSpine from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, March 14th. Piper Sandler reduced their price objective on SeaSpine from $28.00 to $21.00 and set an “overweight” rating on the stock in a research report on Monday, March 14th. StockNews.com assumed coverage on SeaSpine in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Cantor Fitzgerald reduced their target price on SeaSpine from $27.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, April 22nd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $30.63.

About SeaSpine (Get Rating)

SeaSpine Holdings Corporation, a medical technology company, focuses on the design, development, and commercialization of surgical solutions for the treatment of spinal disorders in the United States and internationally. It offers orthobiologics and spinal implant solutions for the neurosurgeons and orthopedic spine surgeons to perform fusion procedures in the lumbar, thoracic, and cervical spine.

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