Sintx Technologies (NASDAQ:SINT) Stock Price Down 10.8% – Here’s Why

Sintx Technologies, Inc. (NASDAQ:SINT)’s stock price dropped 10.8% during trading on Monday . The stock traded as low as $2.71 and last traded at $2.97. Approximately 3,567,506 shares traded hands during mid-day trading, an increase of 276% from the average daily volume of 947,872 shares. The stock had previously closed at $3.33.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets decreased their price target on shares of Sintx Technologies from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 30th.

Sintx Technologies Trading Down 10.8%

The company’s fifty day moving average is $3.04 and its 200 day moving average is $3.03. The company has a market capitalization of $7.45 million, a P/E ratio of -0.06 and a beta of 0.71.

Sintx Technologies (NASDAQ:SINT) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.58). Sintx Technologies had a negative net margin of 483.85% and a negative return on equity of 203.66%. The firm had revenue of $0.37 million during the quarter, compared to the consensus estimate of $0.73 million.

Insider Activity

In related news, Director Mark Lewis Anderson acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, June 18th. The stock was bought at an average cost of $3.30 per share, with a total value of $33,000.00. Following the acquisition, the director owned 15,000 shares of the company’s stock, valued at approximately $49,500. The trade was a 200.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have acquired 25,236 shares of company stock worth $62,908. Insiders own 0.01% of the company’s stock.

Institutional Trading of Sintx Technologies

A number of hedge funds have recently made changes to their positions in SINT. Veracity Capital LLC bought a new stake in Sintx Technologies in the second quarter worth $233,000. Heights Capital Management Inc. bought a new position in Sintx Technologies in the first quarter worth about $162,000. Finally, Renaissance Technologies LLC bought a new position in Sintx Technologies in the fourth quarter worth about $77,000. 18.38% of the stock is owned by institutional investors.

Sintx Technologies Company Profile

Sintx Technologies, Inc, an advanced ceramics company, engages in the research, development, and commercialization of medical devices manufactured with silicon nitride for biomedical, technical, and antipathogenic applications in the United States. It provides solid and porous silicon nitride; silicon nitrite powder; and silicon nitride coating products, as well as silicon nitride composite materials, polyetheretherketone, and polyetherketoneketone.