Milestone Scientific (NYSE:MLSS) Shares Down 1.6% – Here’s Why

Shares of Milestone Scientific Inc. (NYSE:MLSS) dropped 1.6% during mid-day trading on Tuesday . The company traded as low as $0.2929 and last traded at $0.3070. Approximately 873,432 shares traded hands during mid-day trading, an increase of 89% from the average daily volume of 461,480 shares. The stock had previously closed at $0.3120.

Milestone Scientific Stock Performance

The business has a fifty day simple moving average of $0.46 and a 200 day simple moving average of $0.64. The stock has a market cap of $24.14 million, a price-to-earnings ratio of -4.39 and a beta of 0.92.

Insiders Place Their Bets

In other news, major shareholder S.R.L. Bp4 sold 100,000 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $0.44, for a total transaction of $44,000.00. Following the completion of the transaction, the insider owned 8,896,765 shares of the company’s stock, valued at $3,914,576.60. This represents a 1.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 377,829 shares of company stock worth $173,739 in the last quarter. Corporate insiders own 24.75% of the company’s stock.

Institutional Investors Weigh In On Milestone Scientific

Hedge funds have recently modified their holdings of the stock. Brookwood Investment Group LLC acquired a new position in Milestone Scientific during the first quarter worth approximately $46,000. XTX Topco Ltd boosted its holdings in shares of Milestone Scientific by 99.2% in the 1st quarter. XTX Topco Ltd now owns 34,135 shares of the company’s stock valued at $32,000 after purchasing an additional 17,002 shares during the last quarter. Carnegie Investment Counsel purchased a new stake in shares of Milestone Scientific during the 2nd quarter valued at $105,000. Finally, Raymond James Financial Inc. increased its holdings in shares of Milestone Scientific by 416.7% during the 2nd quarter. Raymond James Financial Inc. now owns 62,000 shares of the company’s stock worth $39,000 after buying an additional 50,000 shares during the last quarter. 5.79% of the stock is owned by institutional investors and hedge funds.

Milestone Scientific Company Profile

Milestone Scientific Inc, a biomedical technology research and development company, patents, designs, develops, and commercializes diagnostic and therapeutic injection technologies, and devices for medical, dental, and cosmetic use in the United States, China, and internationally. The company operates through Dental and Medical segments.