Modular Medical (NASDAQ:MODD) Shares Down 0.6% – What’s Next?

Modular Medical, Inc. (NASDAQ:MODD) traded down 0.6% during mid-day trading on Monday . The company traded as low as $0.70 and last traded at $0.70. 957,279 shares traded hands during trading, a decline of 25% from the average session volume of 1,279,332 shares. The stock had previously closed at $0.70.

Modular Medical Trading Down 0.6%

The business’s 50 day moving average price is $0.72 and its 200-day moving average price is $0.82. The company has a market cap of $38.70 million, a price-to-earnings ratio of -1.37 and a beta of 0.17.

Modular Medical (NASDAQ:MODD) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02).

Institutional Trading of Modular Medical

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sio Capital Management LLC raised its stake in Modular Medical by 211.8% in the 2nd quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock worth $585,000 after purchasing an additional 533,834 shares in the last quarter. AWM Investment Company Inc. raised its stake in Modular Medical by 12.8% in the 1st quarter. AWM Investment Company Inc. now owns 1,033,732 shares of the company’s stock worth $1,127,000 after purchasing an additional 117,066 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in Modular Medical by 156.3% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,708,332 shares of the company’s stock worth $1,862,000 after purchasing an additional 1,041,666 shares in the last quarter. 683 Capital Management LLC raised its stake in Modular Medical by 23.8% in the 1st quarter. 683 Capital Management LLC now owns 1,980,000 shares of the company’s stock worth $2,158,000 after purchasing an additional 380,000 shares in the last quarter. Finally, Solas Capital Management LLC raised its position in shares of Modular Medical by 30.7% in the 1st quarter. Solas Capital Management LLC now owns 3,243,475 shares of the company’s stock valued at $3,519,000 after buying an additional 762,380 shares in the last quarter. Institutional investors and hedge funds own 27.47% of the company’s stock.

About Modular Medical

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.