Short Interest in AngioDynamics, Inc. (NASDAQ:ANGO) Increases By 28.1%

AngioDynamics, Inc. (NASDAQ:ANGO) was the recipient of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 2,176,310 shares, an increase of 28.1% from the February 12th total of 1,699,336 shares. Approximately 5.6% of the shares of the company are short sold. Based on an average daily trading volume, of 276,482 shares, the days-to-cover ratio is currently 7.9 days. Based on an average daily trading volume, of 276,482 shares, the days-to-cover ratio is currently 7.9 days. Approximately 5.6% of the shares of the company are short sold.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of AngioDynamics in a research note on Wednesday, January 21st. Wall Street Zen cut AngioDynamics from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. Finally, Zacks Research raised shares of AngioDynamics from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.33.

AngioDynamics Price Performance

NASDAQ:ANGO opened at $10.67 on Tuesday. The company has a market cap of $439.82 million, a P/E ratio of -15.93 and a beta of 0.48. The stock’s fifty day moving average price is $10.75 and its two-hundred day moving average price is $11.54. AngioDynamics has a 1 year low of $8.36 and a 1 year high of $13.99.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ANGO. State of Alaska Department of Revenue bought a new stake in shares of AngioDynamics during the third quarter valued at about $25,000. Farther Finance Advisors LLC boosted its position in shares of AngioDynamics by 146.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,018 shares of the medical instruments supplier’s stock valued at $26,000 after acquiring an additional 1,199 shares during the period. Washington Trust Advisors Inc. purchased a new position in AngioDynamics during the third quarter valued at approximately $27,000. Kemnay Advisory Services Inc. bought a new stake in AngioDynamics during the 4th quarter worth approximately $27,000. Finally, State of Wyoming bought a new stake in AngioDynamics during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.43% of the company’s stock.

AngioDynamics Company Profile

AngioDynamics, Inc is a medical technology company headquartered in Latham, New York, that develops, manufactures and markets a broad range of minimally invasive medical devices. The company’s products focus on three core areas: vascular access, peripheral vascular intervention and interventional oncology. Its solutions are designed to improve procedural outcomes, reduce complications and enhance patient comfort in hospital and outpatient settings.

In the vascular access segment, AngioDynamics offers a portfolio of devices including implanted ports, peripherally inserted central catheters (PICCs), hemodialysis catheters and specialty blood management products.