Short Interest in Conformis, Inc. (NASDAQ:CFMS) Grows By 29.1%

Conformis, Inc. (NASDAQ:CFMSGet Rating) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 1,060,000 shares, a growth of 29.1% from the August 15th total of 821,100 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average trading volume of 880,900 shares, the short-interest ratio is presently 1.2 days.

Analyst Ratings Changes

CFMS has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Conformis in a research note on Saturday, September 10th. They issued a “hold” rating on the stock. Canaccord Genuity Group dropped their target price on shares of Conformis from $2.00 to $1.00 and set a “buy” rating on the stock in a research note on Thursday, August 11th.

Conformis Price Performance

Shares of CFMS opened at $0.28 on Friday. The company has a 50 day moving average price of $0.28 and a 200-day moving average price of $0.43. Conformis has a fifty-two week low of $0.24 and a fifty-two week high of $1.85. The stock has a market capitalization of $52.45 million, a PE ratio of -0.82 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.77 and a current ratio of 5.71.

Conformis (NASDAQ:CFMSGet Rating) last announced its quarterly earnings results on Monday, August 8th. The medical instruments supplier reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). Conformis had a negative return on equity of 64.59% and a negative net margin of 99.97%. The business had revenue of $15.30 million during the quarter, compared to analysts’ expectations of $15.13 million. During the same period in the previous year, the company posted $0.21 EPS. Equities analysts predict that Conformis will post -0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Conformis

Several hedge funds have recently modified their holdings of CFMS. Stonepine Capital Management LLC lifted its position in shares of Conformis by 2,932.7% in the 4th quarter. Stonepine Capital Management LLC now owns 14,768,823 shares of the medical instruments supplier’s stock worth $11,245,000 after purchasing an additional 14,281,841 shares during the period. Wasatch Advisors Inc. lifted its position in Conformis by 9.7% during the first quarter. Wasatch Advisors Inc. now owns 20,030,298 shares of the medical instruments supplier’s stock valued at $12,495,000 after acquiring an additional 1,778,054 shares during the last quarter. Velan Capital Investment Management LP lifted its position in Conformis by 11.5% during the first quarter. Velan Capital Investment Management LP now owns 4,644,507 shares of the medical instruments supplier’s stock valued at $2,897,000 after acquiring an additional 477,900 shares during the last quarter. Millennium Management LLC purchased a new stake in Conformis during the second quarter valued at approximately $160,000. Finally, Avidian Wealth Solutions LLC lifted its position in Conformis by 71.6% during the second quarter. Avidian Wealth Solutions LLC now owns 875,223 shares of the medical instruments supplier’s stock valued at $310,000 after acquiring an additional 365,255 shares during the last quarter. Hedge funds and other institutional investors own 43.72% 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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