Modular Medical’s (MODD) Sell (E+) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their sell (e+) rating on shares of Modular Medical (NASDAQ:MODD) in a report released on Tuesday,Weiss Ratings reports.

Modular Medical Stock Down 4.1%

Shares of NASDAQ:MODD opened at $0.56 on Tuesday. The company has a market cap of $30.68 million, a PE ratio of -1.09 and a beta of 0.17. The company’s 50-day moving average price is $0.70 and its 200 day moving average price is $0.79. Modular Medical has a fifty-two week low of $0.55 and a fifty-two week high of $2.37.

Modular Medical (NASDAQ:MODD) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02).

Institutional Trading of Modular Medical

A number of hedge funds have recently bought and sold shares of MODD. Chicago Partners Investment Group LLC acquired a new position in shares of Modular Medical in the 1st quarter valued at $38,000. Wealthedge Investment Advisors LLC increased its position in shares of Modular Medical by 261.6% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 137,569 shares of the company’s stock worth $150,000 after purchasing an additional 99,524 shares in the last quarter. Solas Capital Management LLC grew its holdings in Modular Medical by 30.7% during the 1st quarter. Solas Capital Management LLC now owns 3,243,475 shares of the company’s stock worth $3,519,000 after acquiring an additional 762,380 shares during the last quarter. 683 Capital Management LLC grew its holdings in Modular Medical by 23.8% during the 1st quarter. 683 Capital Management LLC now owns 1,980,000 shares of the company’s stock worth $2,158,000 after acquiring an additional 380,000 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in shares of 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 valued at $1,862,000 after purchasing an additional 1,041,666 shares during the last quarter. 27.47% of the stock is owned by institutional investors.

Modular Medical Company Profile

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.