Modular Medical (NASDAQ:MODD) Shares Up 21.1% – What’s Next?

Modular Medical, Inc. (NASDAQ:MODD)’s share price shot up 21.1% during mid-day trading on Wednesday . The company traded as high as $0.4248 and last traded at $0.4040. 800,558 shares were traded during mid-day trading, an increase of 39% from the average session volume of 574,695 shares. The stock had previously closed at $0.3337.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Modular Medical in a report on Monday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Modular Medical currently has a consensus rating of “Sell”.

Modular Medical Stock Up 21.1%

The firm’s 50 day moving average is $0.46 and its two-hundred day moving average is $0.63. The stock has a market cap of $25.73 million, a price-to-earnings ratio of -0.79 and a beta of 0.16.

Modular Medical (NASDAQ:MODD) last posted its earnings results on Friday, November 14th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.04).

Institutional Trading of Modular Medical

A number of large investors have recently modified their holdings of the company. Warberg Asset Management LLC acquired a new position in Modular Medical during the 3rd quarter valued at about $31,000. Perritt Capital Management Inc boosted its position in shares of Modular Medical by 34.2% during the third quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock worth $59,000 after buying an additional 21,675 shares during the period. Sio Capital Management LLC grew its holdings 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 buying an additional 533,834 shares in the last quarter. AWM Investment Company Inc. increased its position 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 valued at $1,127,000 after acquiring an additional 117,066 shares during the period. Finally, Alyeska Investment Group L.P. raised its stake in Modular Medical by 156.3% during 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 acquiring an additional 1,041,666 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.