SeaStar Medical Holding Corporation (NASDAQ:ICU) Sees Large Decline in Short Interest

SeaStar Medical Holding Corporation (NASDAQ:ICU) saw a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 136,473 shares, a drop of 86.3% from the December 31st total of 996,651 shares. Based on an average daily volume of 182,374 shares, the days-to-cover ratio is presently 0.7 days. Approximately 3.6% of the shares of the company are sold short. Approximately 3.6% of the shares of the company are sold short. Based on an average daily volume of 182,374 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of SeaStar Medical to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SeaStar Medical in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, SeaStar Medical presently has an average rating of “Sell”.

SeaStar Medical Stock Performance

Shares of ICU stock traded down $0.01 during trading hours on Tuesday, hitting $2.47. The company had a trading volume of 106,400 shares, compared to its average volume of 131,677. SeaStar Medical has a 12 month low of $2.20 and a 12 month high of $30.70. The firm’s fifty day moving average is $2.80 and its 200 day moving average is $5.56. The firm has a market capitalization of $9.36 million, a price-to-earnings ratio of -0.15 and a beta of -1.00.

SeaStar Medical (NASDAQ:ICU) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($1.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.50) by $0.20. The firm had revenue of $0.18 million for the quarter, compared to analysts’ expectations of $0.25 million. SeaStar Medical had a negative return on equity of 414.50% and a negative net margin of 1,551.08%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC acquired a new stake in SeaStar Medical during the 3rd quarter valued at $102,000. XTX Topco Ltd lifted its position in SeaStar Medical by 395.4% during the 2nd quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock worth $26,000 after buying an additional 48,674 shares in the last quarter. Finally, Trinity Financial Advisors LLC increased its position in SeaStar Medical by 233.3% in the 3rd quarter. Trinity Financial Advisors LLC now owns 50,000 shares of the company’s stock valued at $28,000 after acquiring an additional 35,000 shares in the last quarter. 1.69% of the stock is owned by institutional investors and hedge funds.

SeaStar Medical Company Profile

SeaStar Medical, Inc (NASDAQ: ICU) is a medical device company focused on the development and commercialization of cerebral embolic protection systems for patients undergoing transcatheter aortic valve replacement (TAVR) procedures. The company’s mission is to reduce the risk of stroke and other neurologic events associated with structural heart interventions by capturing or deflecting embolic debris that can travel to the brain during catheter-based therapies.

The company’s flagship product, TriGUARD® 3, is a next-generation embolic deflection device designed to provide coverage of all three cerebral vessels during TAVR.