PMI (NYSEAMERICAN:PMI) Short Interest Up 358.0% in July

PMI (NYSEAMERICAN:PMI) saw a large increase in short interest in July. As of July 15th, there was short interest totaling 15,397,813 shares, an increase of 358.0% from the June 30th total of 3,361,606 shares. Based on an average daily trading volume, of 55,747,477 shares, the days-to-cover ratio is currently 0.3 days. Currently, 15.0% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of brokerages have issued reports on PMI. Zacks Research upgraded PMI to a “hold” rating in a research note on Tuesday, May 19th. HC Wainwright reaffirmed a “neutral” rating on shares of PMI in a research note on Wednesday, June 3rd. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

PMI Price Performance

Shares of PMI stock opened at $4.39 on Friday. The company’s 50 day moving average price is $0.17. PMI has a 12 month low of $0.09 and a 12 month high of $13.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.75 and a quick ratio of 0.16.

Shares of PMI are set to reverse split before the market opens on Monday, August 3rd. The 1-50 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, August 2nd.

PMI (NYSEAMERICAN:PMI) last posted its earnings results on Friday, May 15th. The company reported ($0.10) earnings per share for the quarter. The company had revenue of $1.15 million for the quarter. As a group, analysts forecast that PMI will post -0.17 earnings per share for the current fiscal year.

About PMI

Picard Medical Inc is a medical technology company which manufactures and sells the only total artificial heart. Picard Medical Inc is based in TUCSON, Ariz.