Short Interest in SS Innovations International, Inc. (NASDAQ:SSII) Declines By 14.1%

SS Innovations International, Inc. (NASDAQ:SSII) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 213,820 shares, a drop of 14.1% from the February 26th total of 248,995 shares. Based on an average daily volume of 84,979 shares, the days-to-cover ratio is presently 2.5 days. Currently, 0.1% of the shares of the company are short sold.

SS Innovations International Trading Up 1.6%

SSII stock opened at $5.00 on Wednesday. The firm’s 50-day moving average is $4.58 and its two-hundred day moving average is $5.85. The company has a market capitalization of $971.80 million and a price-to-earnings ratio of -83.33. SS Innovations International has a 52 week low of $3.02 and a 52 week high of $22.42.

SS Innovations International (NASDAQ:SSII) last posted its quarterly earnings data on Tuesday, March 10th. The company reported ($0.01) earnings per share (EPS) for the quarter. SS Innovations International had a negative net margin of 28.54% and a negative return on equity of 30.23%. The company had revenue of $14.53 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of SS Innovations International in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Insider Activity

In other SS Innovations International news, Director Frederic H. Moll purchased 501,253 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were bought at an average price of $3.99 per share, with a total value of $1,999,999.47. Following the completion of the acquisition, the director owned 10,775,485 shares in the company, valued at approximately $42,994,185.15. This represents a 4.88% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy P. Adams acquired 300,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average cost of $3.99 per share, with a total value of $1,197,000.00. Following the completion of the acquisition, the director directly owned 5,331,902 shares in the company, valued at approximately $21,274,288.98. This represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 1,300,006 shares of company stock valued at $5,196,999.

Hedge Funds Weigh In On SS Innovations International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB acquired a new position in shares of SS Innovations International during the 3rd quarter valued at $714,000. JNBA Financial Advisors acquired a new stake in shares of SS Innovations International in the fourth quarter valued at $498,000. Eversept Partners LP bought a new position in SS Innovations International during the fourth quarter valued at about $428,000. AlphaCentric Advisors LLC bought a new position in SS Innovations International during the fourth quarter valued at about $284,000. Finally, Inspire Investing LLC grew its holdings in SS Innovations International by 124.4% during the fourth quarter. Inspire Investing LLC now owns 82,773 shares of the company’s stock worth $470,000 after acquiring an additional 45,886 shares during the period.

SS Innovations International Company Profile

AVRA Medical Robotics, Inc develops and manufactures medical surgical devices. The company has a research agreement with the University of Central Florida to develop navigation and control technologies with applications in medical robotics. The company was formerly known as AVRA Surgical Microsystems, Inc and changed its name to AVRA Medical Robotics, Inc in November 2015. AVRA Medical Robotics, Inc was founded in 2015 and is based in Orlando, Florida.