Modular Medical (NASDAQ:MODD) Releases Quarterly Earnings Results

Modular Medical (NASDAQ:MODD) posted its earnings results on Tuesday. The company reported ($0.11) EPS for the quarter, FiscalAI reports.

Modular Medical Stock Up 0.2%

Shares of NASDAQ:MODD opened at $0.46 on Wednesday. Modular Medical has a fifty-two week low of $0.28 and a fifty-two week high of $1.29. The firm’s 50-day simple moving average is $0.42 and its 200-day simple moving average is $0.55. The company has a market cap of $35.66 million, a price-to-earnings ratio of -0.91 and a beta of 0.17.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Modular Medical in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Trading of Modular Medical

Institutional investors have recently modified their holdings of the business. Bleichroeder LP grew its holdings in Modular Medical by 41.9% during the fourth quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock worth $1,041,000 after acquiring an additional 845,000 shares during the period. 683 Capital Management LLC grew its stake in shares of Modular Medical by 79.4% during the 4th quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock worth $642,000 after purchasing an additional 780,000 shares during the period. Sio Capital Management LLC grew its stake in shares of Modular Medical by 211.8% during the 2nd quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock worth $585,000 after purchasing an additional 533,834 shares during the period. Jane Street Group LLC increased its holdings in shares of Modular Medical by 446.8% in the 4th quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock valued at $60,000 after purchasing an additional 133,969 shares in the last quarter. Finally, Warberg Asset Management LLC acquired a new stake in shares of Modular Medical in the third quarter valued at about $31,000. 27.47% of the stock is currently owned by hedge funds and other institutional investors.

About Modular Medical

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.