SS Innovations International (NASDAQ:SSII) Shares Down 8.9% – Here’s Why

Shares of SS Innovations International, Inc. (NASDAQ:SSII) dropped 8.9% during mid-day trading on Monday . The company traded as low as $4.96 and last traded at $5.00. Approximately 55,340 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 108,766 shares. The stock had previously closed at $5.49.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SS Innovations International in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, SS Innovations International currently has an average rating of “Sell”.

SS Innovations International Price Performance

The business has a fifty day moving average price of $7.21 and a 200 day moving average price of $6.51. The company has a market capitalization of $973.91 million and a price-to-earnings ratio of -100.60.

SS Innovations International (NASDAQ:SSII) last posted its quarterly earnings data on Tuesday, October 28th. The company reported ($0.02) earnings per share for the quarter. The company had revenue of $12.83 million during the quarter. SS Innovations International had a negative return on equity of 34.13% and a negative net margin of 32.10%.

Institutional Investors Weigh In On SS Innovations International

A number of institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new position in shares of SS Innovations International during the 3rd quarter valued at $56,000. Envestnet Asset Management Inc. bought a new position in SS Innovations International during the third quarter valued at about $71,000. AlTi Global Inc. acquired a new position in SS Innovations International during the second quarter worth about $121,000. Geode Capital Management LLC bought a new stake in SS Innovations International in the second quarter worth about $122,000. Finally, Inspire Investing LLC acquired a new stake in SS Innovations International in the 3rd quarter valued at about $240,000.

About SS Innovations International

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.