Edap Tms (NASDAQ:EDAP) Shares Pass Above 200-Day Moving Average – Here’s Why

Edap Tms S.A. (NASDAQ:EDAP)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.86 and traded as high as $2.44. Edap Tms shares last traded at $2.38, with a volume of 37,511 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Edap Tms in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.50.

Edap Tms Trading Down 0.8%

The firm has a market cap of $88.99 million, a P/E ratio of -3.90 and a beta of -0.15. The stock has a fifty day simple moving average of $2.24 and a 200 day simple moving average of $1.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.05 and a current ratio of 1.51.

Institutional Trading of Edap Tms

A number of institutional investors and hedge funds have recently modified their holdings of EDAP. Banque Transatlantique SA grew its holdings in shares of Edap Tms by 7,063.7% in the first quarter. Banque Transatlantique SA now owns 730,699 shares of the medical equipment provider’s stock worth $1,324,000 after acquiring an additional 720,499 shares during the period. Scoggin Management LP bought a new stake in shares of Edap Tms in the first quarter worth $686,000. Sage Mountain Advisors LLC bought a new stake in shares of Edap Tms in the second quarter worth $165,000. Cetera Investment Advisers grew its holdings in shares of Edap Tms by 33.9% in the first quarter. Cetera Investment Advisers now owns 75,000 shares of the medical equipment provider’s stock worth $147,000 after acquiring an additional 19,000 shares during the period. Finally, Simplicity Wealth LLC bought a new stake in shares of Edap Tms in the second quarter worth $54,000. Institutional investors own 62.74% of the company’s stock.

About Edap Tms

EDAP TMS SA is a holding company, which, through its subsidiary, engages in the development, production, and marketing of minimally invasive medical devices for urological diseases. It operates through the High Intensity Focused Ultrasound (HIFU) and Urology Devices and Services (UDS) segments. The HIFU segment develops, manufactures, and markets devices for the minimally invasive ablation of certain types of localized tumors using HIFU technology.