Short Interest in Acutus Medical, Inc. (NASDAQ:AFIB) Increases By 30.0%

Acutus Medical, Inc. (NASDAQ:AFIB – Get Rating) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 1,690,000 shares, a growth of 30.0% from the March 31st total of 1,300,000 shares. Approximately 7.7% of the shares of the company are short sold. Based on an average daily volume of 525,100 shares, the days-to-cover ratio is presently 3.2 days.

Shares of AFIB opened at $1.28 on Monday. The business’s 50-day moving average price is $1.44 and its 200 day moving average price is $3.13. The stock has a market capitalization of $36.20 million, a P/E ratio of -0.31 and a beta of 2.66. Acutus Medical has a 1-year low of $0.76 and a 1-year high of $18.00. The company has a current ratio of 6.82, a quick ratio of 5.94 and a debt-to-equity ratio of 0.38.

Acutus Medical (NASDAQ:AFIB – Get Rating) last released its earnings results on Wednesday, March 30th. The company reported ($1.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.92) by ($0.21). The business had revenue of $4.36 million for the quarter, compared to analysts’ expectations of $4.30 million. Acutus Medical had a negative net margin of 681.71% and a negative return on equity of 116.28%. On average, research analysts predict that Acutus Medical will post -3.17 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Acutus Medical by 120.7% during the second quarter. Royal Bank of Canada now owns 3,743 shares of the company’s stock worth $64,000 after buying an additional 2,047 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Acutus Medical by 24.1% during the third quarter. Deutsche Bank AG now owns 11,358 shares of the company’s stock worth $100,000 after buying an additional 2,203 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Acutus Medical during the fourth quarter worth approximately $37,000. Wells Fargo & Company MN lifted its holdings in shares of Acutus Medical by 241.0% during the fourth quarter. Wells Fargo & Company MN now owns 15,866 shares of the company’s stock worth $54,000 after buying an additional 11,213 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Acutus Medical by 16.7% during the third quarter. HighTower Advisors LLC now owns 80,498 shares of the company’s stock worth $711,000 after buying an additional 11,500 shares during the last quarter. Institutional investors own 72.28% of the company’s stock.

Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Acutus Medical from a “hold” rating to a “sell” rating in a report on Monday, April 4th. BTIG Research raised shares of Acutus Medical from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 27th. William Blair restated a “market perform” rating on shares of Acutus Medical in a research report on Thursday, March 31st. UBS Group cut shares of Acutus Medical from a “buy” rating to a “hold” rating in a research note on Friday, January 14th. Finally, Canaccord Genuity Group decreased their price objective on shares of Acutus Medical from $10.00 to $3.00 and set a “hold” rating on the stock in a research report on Friday, January 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.60.

Acutus Medical Company Profile (Get Rating)

Acutus Medical, Inc, an arrhythmia management company, designs, manufactures, and markets a range of tools for catheter-based ablation procedures to treat various arrhythmias in the United States and internationally. The company's product portfolio includes novel access sheaths, transseptal crossing tools, diagnostic and mapping catheters, conventional and contact force ablation catheters, and mapping and imaging consoles and accessories, as well as supporting algorithms and software programs.

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