Profound Medical (TSE:PRN) Stock Price Down 2.1% – Here’s Why

Profound Medical Corp. (TSE:PRN)’s stock price dropped 2.1% during mid-day trading on Monday . The stock traded as low as C$5.59 and last traded at C$5.63. Approximately 17,464 shares were traded during trading, an increase of 119% from the average daily volume of 7,990 shares. The stock had previously closed at C$5.75.

Profound Medical Stock Performance

The company has a market cap of C$169.20 million, a PE ratio of -3.88 and a beta of -0.25. The company has a quick ratio of 14.98, a current ratio of 6.12 and a debt-to-equity ratio of 20.05. The company has a 50-day moving average of C$7.30 and a 200-day moving average of C$7.76.

About Profound Medical

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.