SeaSpine Holdings Co. (NASDAQ:SPNE) Short Interest Update

SeaSpine Holdings Co. (NASDAQ:SPNEGet Rating) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 392,400 shares, a decline of 20.7% from the October 15th total of 494,900 shares. Based on an average daily trading volume, of 261,600 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust raised its position in SeaSpine by 6.2% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 798,015 shares of the medical equipment provider’s stock valued at $4,509,000 after purchasing an additional 46,743 shares in the last quarter. IndexIQ Advisors LLC raised its position in SeaSpine by 40.4% during the first quarter. IndexIQ Advisors LLC now owns 34,078 shares of the medical equipment provider’s stock valued at $414,000 after purchasing an additional 9,808 shares in the last quarter. Tradition Wealth Management LLC raised its position in SeaSpine by 77.8% during the first quarter. Tradition Wealth Management LLC now owns 8,000 shares of the medical equipment provider’s stock valued at $97,000 after purchasing an additional 3,500 shares in the last quarter. First Eagle Investment Management LLC raised its position in SeaSpine by 48.0% during the first quarter. First Eagle Investment Management LLC now owns 88,281 shares of the medical equipment provider’s stock valued at $1,073,000 after purchasing an additional 28,626 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its position in SeaSpine by 51.5% during the first quarter. Advisor Group Holdings Inc. now owns 48,031 shares of the medical equipment provider’s stock valued at $584,000 after purchasing an additional 16,325 shares in the last quarter. 72.07% of the stock is currently owned by institutional investors and hedge funds.

SeaSpine Trading Up 3.1 %

Shares of SPNE stock opened at $7.33 on Friday. The company has a current ratio of 3.18, a quick ratio of 1.65 and a debt-to-equity ratio of 0.09. The stock has a market cap of $272.70 million, a P/E ratio of -4.14 and a beta of 1.35. The stock has a 50 day simple moving average of $6.19 and a 200 day simple moving average of $6.83. SeaSpine has a 1 year low of $5.48 and a 1 year high of $15.45.

SeaSpine (NASDAQ:SPNEGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The medical equipment provider reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.12). SeaSpine had a negative net margin of 28.22% and a negative return on equity of 22.16%. The company had revenue of $67.15 million during the quarter, compared to the consensus estimate of $66.92 million. On average, research analysts predict that SeaSpine will post -1.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. StockNews.com assumed coverage on SeaSpine in a report on Wednesday, October 12th. They set a “hold” rating for the company. Piper Sandler reduced their price objective on SeaSpine from $21.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, August 3rd. Finally, Truist Financial cut SeaSpine from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $12.00 to $6.75 in a report on Wednesday, November 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.95.

About SeaSpine

(Get Rating)

SeaSpine Holdings Corporation, a medical technology company, focuses on the design, development, and commercialization of surgical solutions for the treatment of spinal disorders in the United States and internationally. It offers orthobiologics and spinal implant solutions for the neurosurgeons and orthopedic spine surgeons to perform fusion procedures in the lumbar, thoracic, and cervical spine.

Further Reading

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