SeaSpine Holdings Corporation (NASDAQ:SPNE)’s share price dropped 8.6% during trading on Thursday . The stock traded as low as $10.00 and last traded at $10.00. Approximately 534,984 shares were traded during mid-day trading, an increase of 1,340% from the average daily volume of 37,150 shares. The stock had previously closed at $10.94.

SPNE has been the subject of several research reports. ValuEngine upgraded shares of SeaSpine Holdings Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded shares of SeaSpine Holdings Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. HC Wainwright set a $15.00 target price on shares of SeaSpine Holdings Corporation and gave the stock a “buy” rating in a research note on Monday, August 7th. Piper Jaffray Companies reiterated a “buy” rating and set a $22.00 target price on shares of SeaSpine Holdings Corporation in a research note on Sunday, August 20th. Finally, BTIG Research began coverage on shares of SeaSpine Holdings Corporation in a research note on Tuesday, June 20th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $16.67.

The company has a 50-day moving average price of $10.81 and a 200 day moving average price of $9.14. The stock’s market capitalization is $130.53 million.

Institutional investors have recently added to or reduced their stakes in the stock. Falcon Point Capital LLC increased its stake in SeaSpine Holdings Corporation by 15.9% during the 2nd quarter. Falcon Point Capital LLC now owns 108,949 shares of the medical equipment provider’s stock worth $1,255,000 after buying an additional 14,982 shares during the period. Hodges Capital Management Inc. purchased a new stake in SeaSpine Holdings Corporation during the 2nd quarter worth $1,382,000. Synovus Financial Corp purchased a new stake in SeaSpine Holdings Corporation during the 2nd quarter worth $116,000. Spark Investment Management LLC increased its stake in SeaSpine Holdings Corporation by 14.4% during the 2nd quarter. Spark Investment Management LLC now owns 58,000 shares of the medical equipment provider’s stock worth $668,000 after buying an additional 7,300 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in SeaSpine Holdings Corporation during the 2nd quarter worth $366,000. 39.03% of the stock is currently owned by hedge funds and other institutional investors.

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SeaSpine Holdings Corporation Company Profile

SeaSpine Holdings Corporation is a medical technology company. The Company is focused on the design, development and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. The Company operates through the development, manufacture and marketing of orthobiologics and spinal fusion hardware segment.

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