Apyx Medical (NASDAQ:APYX) Rating Lowered to Market Perform at JMP Securities

Apyx Medical (NASDAQ:APYXGet Rating) was downgraded by equities researchers at JMP Securities from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, The Fly reports.

A number of other equities research analysts have also weighed in on the stock. Piper Sandler lowered their price objective on shares of Apyx Medical from $12.00 to $3.00 in a report on Thursday. Lake Street Capital lifted their target price on shares of Apyx Medical from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, July 19th.

Apyx Medical Stock Performance

Shares of APYX opened at $1.92 on Thursday. The firm has a market cap of $66.38 million, a price-to-earnings ratio of -3.76 and a beta of 1.52. Apyx Medical has a fifty-two week low of $1.50 and a fifty-two week high of $17.50. The firm has a 50 day moving average price of $4.82 and a 200-day moving average price of $5.84.

Apyx Medical (NASDAQ:APYXGet Rating) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.04. The firm had revenue of $10.29 million during the quarter, compared to analyst estimates of $10.66 million. Apyx Medical had a negative net margin of 34.21% and a negative return on equity of 34.39%. During the same period in the previous year, the business posted ($0.12) EPS. As a group, equities research analysts predict that Apyx Medical will post -0.52 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Charles D. Goodwin II bought 11,750 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were bought at an average cost of $5.96 per share, with a total value of $70,030.00. Following the completion of the purchase, the chief executive officer now directly owns 40,000 shares in the company, valued at $238,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank bought a new stake in shares of Apyx Medical during the 1st quarter valued at $33,000. Tower Research Capital LLC TRC boosted its holdings in shares of Apyx Medical by 3,565.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,147 shares of the company’s stock valued at $32,000 after buying an additional 6,952 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Apyx Medical during the 2nd quarter valued at $48,000. Jump Financial LLC bought a new stake in shares of Apyx Medical during the 3rd quarter valued at $47,000. Finally, Virtu Financial LLC bought a new stake in shares of Apyx Medical during the 3rd quarter valued at $52,000. 60.85% of the stock is owned by hedge funds and other institutional investors.

About Apyx Medical

(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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