Short Interest in Conformis, Inc. (NASDAQ:CFMS) Decreases By 17.0%

Conformis, Inc. (NASDAQ:CFMSGet Rating) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totalling 2,440,000 shares, a decrease of 17.0% from the June 30th total of 2,940,000 shares. Based on an average trading volume of 646,100 shares, the days-to-cover ratio is presently 3.8 days. Approximately 1.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Conformis in a report on Monday. They issued a “hold” rating on the stock.

Conformis Price Performance

CFMS stock opened at $0.26 on Thursday. The company has a current ratio of 6.84, a quick ratio of 5.87 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $0.33 and its 200 day moving average is $0.50. The stock has a market cap of $48.03 million, a price-to-earnings ratio of -6.47 and a beta of 1.25. Conformis has a 1-year low of $0.25 and a 1-year high of $1.96.

Conformis (NASDAQ:CFMSGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The medical instruments supplier reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). Conformis had a negative net margin of 6.83% and a negative return on equity of 6.50%. The business had revenue of $15.55 million for the quarter, compared to the consensus estimate of $13.94 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. Sell-side analysts predict that Conformis will post -0.31 EPS for the current fiscal year.

Institutional Trading of Conformis

Large investors have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. raised its position in shares of Conformis by 59.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 112,322 shares of the medical instruments supplier’s stock worth $86,000 after purchasing an additional 42,070 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Conformis during the 1st quarter valued at about $40,000. State Street Corp grew its stake in shares of Conformis by 4.2% during the 1st quarter. State Street Corp now owns 3,368,168 shares of the medical instruments supplier’s stock valued at $2,101,000 after acquiring an additional 136,641 shares during the period. Avidian Wealth Solutions LLC grew its stake in shares of Conformis by 84.8% during the 1st quarter. Avidian Wealth Solutions LLC now owns 509,968 shares of the medical instruments supplier’s stock valued at $318,000 after acquiring an additional 234,000 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Conformis by 5.1% during the 4th quarter. Renaissance Technologies LLC now owns 6,038,901 shares of the medical instruments supplier’s stock valued at $4,598,000 after acquiring an additional 294,813 shares during the period. Institutional investors own 51.01% of the company’s stock.

Conformis Company Profile

(Get Rating)

Conformis, Inc, a medical technology company, develops, manufactures, and sells patient-specific products and instrumentation. The company offers personalized knee replacement products, including iUni, iDuo, a custom-made partial knee replacement option for either unicompartmental or bicompartmental osteoarthritis of the knee; iTotal CR, a cruciate retaining total knee replacement product; iTotal PS, a posterior stabilized knee replacement product, as well as provides iTotal Identity and Identity Imprint knee replacement products.

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