Milestone Scientific (NYSE:MLSS) Trading Down 2.3% – Here’s What Happened

Shares of Milestone Scientific Inc. (NYSE:MLSS) traded down 2.3% on Monday . The company traded as low as $0.2875 and last traded at $0.2969. 141,172 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 371,079 shares. The stock had previously closed at $0.3038.

Analysts Set New Price Targets

Separately, Benchmark lowered their target price on shares of Milestone Scientific from $1.25 to $1.00 and set a “speculative buy” rating for the company in a research note on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $1.00.

Milestone Scientific Trading Down 2.3%

The firm has a market cap of $23.34 million, a P/E ratio of -4.24 and a beta of 0.89. The business has a 50-day moving average price of $0.31 and a 200-day moving average price of $0.45.

Institutional Investors Weigh In On Milestone Scientific

An institutional investor recently raised its position in Milestone Scientific stock. Raymond James Financial Inc. boosted its holdings in shares of Milestone Scientific Inc. (NYSE:MLSS) by 416.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,000 shares of the company’s stock after buying an additional 50,000 shares during the quarter. Raymond James Financial Inc. owned approximately 0.08% of Milestone Scientific worth $39,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 5.79% of the company’s stock.

About Milestone Scientific

Milestone Scientific, Inc, listed on the New York Stock Exchange under the symbol MLSS, is a medical device company specializing in the development and commercialization of computer-controlled injection technologies for local anesthesia and pain management. The company’s proprietary systems are designed to enhance patient comfort, improve clinical outcomes and streamline the administration of anesthetics in dental and medical procedures. Through its precision delivery platforms, Milestone Scientific aims to set a new standard for minimally invasive injections.

At the core of Milestone Scientific’s product portfolio is the Single Tooth Anesthesia (STA) System, which uses Comunication Controlled Local Anesthetic Delivery (CCLAD) technology to provide targeted, atraumatic anesthesia for individual dental roots.