Short Interest in Acutus Medical, Inc. (NASDAQ:AFIB) Drops By 70.2%

Acutus Medical, Inc. (NASDAQ:AFIBGet Rating) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 1,180,000 shares, a drop of 70.2% from the June 30th total of 3,960,000 shares. Currently, 6.5% of the shares of the company are sold short. Based on an average daily volume of 4,640,000 shares, the days-to-cover ratio is presently 0.3 days.

Acutus Medical Stock Up 12.9 %

Shares of NASDAQ:AFIB opened at $1.49 on Thursday. The company has a current ratio of 6.03, a quick ratio of 5.01 and a debt-to-equity ratio of 0.59. Acutus Medical has a 12 month low of $0.48 and a 12 month high of $16.18. The company has a 50-day moving average price of $0.84 and a 200 day moving average price of $1.38. The company has a market cap of $42.22 million, a price-to-earnings ratio of -0.33 and a beta of 0.33.

Acutus Medical (NASDAQ:AFIBGet Rating) last announced its quarterly earnings results on Thursday, May 12th. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.01). Acutus Medical had a negative net margin of 740.61% and a negative return on equity of 127.21%. The business had revenue of $3.68 million during the quarter, compared to the consensus estimate of $2.85 million. As a group, equities research analysts predict that Acutus Medical will post -3.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AFIB shares. BTIG Research cut their price target on Acutus Medical from $2.00 to $1.50 and set a “buy” rating for the company in a research note on Friday, June 24th. William Blair restated a “market perform” rating on shares of Acutus Medical in a research report on Thursday, March 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Acutus Medical currently has an average rating of “Hold” and an average price target of $6.13.

Insider Buying and Selling

In related news, Director R Scott Huennekens sold 60,000 shares of the firm’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $0.58, for a total value of $34,800.00. Following the transaction, the director now directly owns 507,509 shares of the company’s stock, valued at approximately $294,355.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 24.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bank of Montreal Can bought a new stake in Acutus Medical in the first quarter worth about $34,000. Mirabella Financial Services LLP bought a new stake in Acutus Medical in the first quarter worth about $48,000. PDT Partners LLC bought a new stake in Acutus Medical in the fourth quarter worth about $152,000. Thompson Siegel & Walmsley LLC lifted its stake in Acutus Medical by 39.5% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 53,000 shares of the company’s stock worth $181,000 after purchasing an additional 15,000 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Acutus Medical in the fourth quarter worth about $292,000. Institutional investors own 62.97% of the company’s stock.

About Acutus Medical

(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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