Apyx Medical Co. (NASDAQ:APYX) Sees Significant Increase in Short Interest

Apyx Medical Co. (NASDAQ:APYXGet Rating) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totalling 968,500 shares, an increase of 25.6% from the April 15th total of 771,100 shares. Currently, 3.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 130,600 shares, the days-to-cover ratio is currently 7.4 days.

Shares of APYX stock opened at $3.55 on Tuesday. Apyx Medical has a fifty-two week low of $3.01 and a fifty-two week high of $17.50. The stock has a 50 day moving average price of $5.63 and a two-hundred day moving average price of $10.06. The company has a market capitalization of $122.22 million, a P/E ratio of -7.55 and a beta of 1.17.

Apyx Medical (NASDAQ:APYXGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Apyx Medical had a negative net margin of 30.96% and a negative return on equity of 29.24%. During the same period in the prior year, the company posted ($0.14) earnings per share. On average, equities analysts forecast that Apyx Medical will post -0.52 EPS for the current year.

A number of hedge funds have recently made changes to their positions in APYX. Invenire Partners LP bought a new position in shares of Apyx Medical during the fourth quarter valued at approximately $4,461,000. Cowen AND Company LLC raised its holdings in shares of Apyx Medical by 21.0% during the third quarter. Cowen AND Company LLC now owns 1,879,003 shares of the company’s stock valued at $26,024,000 after acquiring an additional 325,804 shares in the last quarter. Archon Capital Management LLC raised its holdings in shares of Apyx Medical by 6.4% during the first quarter. Archon Capital Management LLC now owns 2,333,589 shares of the company’s stock valued at $15,238,000 after acquiring an additional 139,471 shares in the last quarter. EAM Investors LLC bought a new position in shares of Apyx Medical during the third quarter valued at approximately $1,781,000. Finally, Banco Santander S.A. bought a new position in shares of Apyx Medical during the first quarter valued at approximately $816,000. Hedge funds and other institutional investors own 61.03% of the company’s stock.

APYX has been the subject of several research reports. Piper Sandler cut their target price on Apyx Medical from $12.00 to $6.00 in a research note on Thursday, May 12th. Colliers Securities reaffirmed a “buy” rating on shares of Apyx Medical in a research note on Tuesday, March 22nd. Finally, Zacks Investment Research lowered Apyx Medical from a “hold” rating to a “sell” rating in a research note on Friday.

Apyx Medical Company Profile (Get Rating)

Apyx Medical Corporation, an energy technology company, develops, manufactures, and sells medical devices in the cosmetic and surgical markets worldwide. The company operates in two segments, Advanced Energy and Original Equipment Manufacturing (OEM). It offers Helium Plasma Generator for delivery of RF energy and helium to cut, coagulate and ablate soft tissue during open and laparoscopic surgical procedures.

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