Short Interest in INVO Bioscience, Inc. (NASDAQ:INVO) Declines By 34.0%

INVO Bioscience, Inc. (NASDAQ:INVOGet Rating) was the recipient of a large drop in short interest in April. As of April 30th, there was short interest totalling 58,600 shares, a drop of 34.0% from the April 15th total of 88,800 shares. Based on an average trading volume of 34,700 shares, the days-to-cover ratio is currently 1.7 days.

Several equities analysts have weighed in on the stock. Colliers Securities restated a “buy” rating on shares of INVO Bioscience in a report on Tuesday, March 22nd. Roth Capital cut shares of INVO Bioscience from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $4.00 to $2.00 in a research note on Wednesday, April 13th. Zacks Investment Research raised shares of INVO Bioscience from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research note on Friday, April 15th. Finally, Maxim Group began coverage on shares of INVO Bioscience in a research note on Wednesday, January 19th. They set a “buy” rating and a $7.00 price target on the stock.

Shares of INVO Bioscience stock traded up $0.01 during mid-day trading on Friday, hitting $1.42. 25,807 shares of the stock were exchanged, compared to its average volume of 34,400. INVO Bioscience has a twelve month low of $1.36 and a twelve month high of $5.43. The stock has a market capitalization of $17.17 million, a price-to-earnings ratio of -1.13 and a beta of -0.40. The company has a 50-day simple moving average of $2.10 and a 200 day simple moving average of $2.86.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Connors Investor Services Inc. boosted its position in shares of INVO Bioscience by 27.3% in the fourth quarter. Connors Investor Services Inc. now owns 49,000 shares of the company’s stock worth $163,000 after acquiring an additional 10,500 shares during the last quarter. Magnus Financial Group LLC boosted its position in shares of INVO Bioscience by 80.0% in the first quarter. Magnus Financial Group LLC now owns 18,000 shares of the company’s stock worth $48,000 after acquiring an additional 8,000 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in shares of INVO Bioscience in the fourth quarter worth approximately $46,000. Finally, Eidelman Virant Capital acquired a new stake in shares of INVO Bioscience in the first quarter worth approximately $29,000. 21.69% of the stock is currently owned by institutional investors and hedge funds.

About INVO Bioscience (Get Rating)

INVO Bioscience, Inc, a commercial-stage fertility company, provides assisted reproductive technology solutions worldwide. Its flagship product is the INVOcell, a medical device that allows fertilization and early embryo development to take place in vivo within the woman's body. The company was founded in 2007 and is based in Sarasota, Florida.

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