ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Sees Large Growth in Short Interest

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) was the recipient of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 247,800 shares, an increase of 51.6% from the May 15th total of 163,500 shares. Based on an average daily trading volume, of 1,020,000 shares, the short-interest ratio is currently 0.2 days. Approximately 0.6% of the company’s shares are sold short.

ImmunoPrecise Antibodies Stock Performance

ImmunoPrecise Antibodies stock opened at $0.95 on Wednesday. The stock’s 50 day simple moving average is $0.52 and its two-hundred day simple moving average is $0.46. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.11 and a current ratio of 2.32. The stock has a market cap of $43.30 million, a price-to-earnings ratio of -0.82 and a beta of 0.12. ImmunoPrecise Antibodies has a fifty-two week low of $0.27 and a fifty-two week high of $1.07.

ImmunoPrecise Antibodies (NASDAQ:IPA) last posted its quarterly earnings data on Friday, March 28th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $4.23 million for the quarter, compared to analysts’ expectations of $6.59 million. ImmunoPrecise Antibodies had a negative return on equity of 88.87% and a negative net margin of 190.76%. As a group, analysts expect that ImmunoPrecise Antibodies will post -0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IPA has been the topic of several recent analyst reports. Wall Street Zen raised ImmunoPrecise Antibodies to a “sell” rating in a research note on Saturday, May 24th. Benchmark reissued a “speculative buy” rating and issued a $3.00 target price on shares of ImmunoPrecise Antibodies in a research note on Tuesday, April 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of ImmunoPrecise Antibodies in a research note on Friday, April 11th.

ImmunoPrecise Antibodies Company Profile

ImmunoPrecise Antibodies Ltd., together with its subsidiaries, operates as a biotherapeutic research and technology company in Canada and internationally. It provides NonaVac DNA for complex protein classes, including GPCRs and ion channels; and Rapid Prime, a positive monoclonal antibodies for generating anti-idiotypic antibodies, and producing monoclonal antibodies against conformational epitopes.