Milestone Scientific (NYSE:MLSS) Stock Price Down 1.7% – Here’s Why

Milestone Scientific Inc. (NYSE:MLSS) shares dropped 1.7% on Friday . The stock traded as low as $0.2755 and last traded at $0.2880. Approximately 86,770 shares were traded during trading, a decline of 59% from the average daily volume of 213,042 shares. The stock had previously closed at $0.2930.

Analyst Ratings Changes

Separately, Benchmark cut their target price on shares of Milestone Scientific from $1.25 to $1.00 and set a “speculative buy” rating on the stock in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $1.00.

Milestone Scientific Stock Down 1.7%

The company has a market capitalization of $22.65 million, a P/E ratio of -4.11 and a beta of 0.91. The business has a 50 day simple moving average of $0.28 and a 200-day simple moving average of $0.37.

Institutional Investors Weigh In On Milestone Scientific

A hedge fund recently raised its stake in Milestone Scientific stock. Raymond James Financial Inc. grew its holdings in shares of Milestone Scientific Inc. (NYSE:MLSS) by 416.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,000 shares of the company’s stock after buying an additional 50,000 shares during the period. Raymond James Financial Inc. owned 0.08% of Milestone Scientific worth $39,000 as of its most recent filing with the Securities and Exchange Commission. 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.