Short Interest in ENDRA Life Sciences Inc. (NASDAQ:NDRA) Drops By 65.2%

ENDRA Life Sciences Inc. (NASDAQ:NDRA) was the recipient of a significant drop in short interest in March. As of March 13th, there was short interest totaling 53,910 shares, a drop of 65.2% from the February 26th total of 154,773 shares. Approximately 8.0% of the company’s stock are sold short. Based on an average daily volume of 86,029 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 86,029 shares, the days-to-cover ratio is presently 0.6 days. Approximately 8.0% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NDRA shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of ENDRA Life Sciences in a research note on Wednesday, January 21st. Ascendiant Capital Markets lowered their target price on shares of ENDRA Life Sciences from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ENDRA Life Sciences stock. Altium Capital Management LLC purchased a new stake in ENDRA Life Sciences Inc. (NASDAQ:NDRA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 51,900 shares of the company’s stock, valued at approximately $235,000. ENDRA Life Sciences accounts for 0.9% of Altium Capital Management LLC’s portfolio, making the stock its 17th largest position. Altium Capital Management LLC owned 6.92% of ENDRA Life Sciences as of its most recent filing with the Securities and Exchange Commission. 1.19% of the stock is currently owned by institutional investors and hedge funds.

ENDRA Life Sciences Stock Performance

ENDRA Life Sciences stock opened at $3.46 on Wednesday. The stock has a 50-day simple moving average of $3.83 and a 200 day simple moving average of $4.86. The stock has a market capitalization of $2.60 million, a P/E ratio of -0.13 and a beta of -0.08. ENDRA Life Sciences has a 52 week low of $2.90 and a 52 week high of $11.96.

About ENDRA Life Sciences

ENDRA Life Sciences, Inc (NASDAQ: NDRA) is a medical technology company headquartered in Ann Arbor, Michigan, that focuses on the development and commercialization of Thermoacoustic Enhanced Ultrasound (TAEUS™) imaging. The company’s proprietary TAEUS platform combines conventional ultrasound with thermoacoustic signals to provide non-invasive, real-time temperature monitoring of soft tissue. This technology is designed to improve the safety, efficacy and outcomes of thermal ablation procedures and other heat-based therapies.

ENDRA’s core product line centers on a compact, easy-to-integrate device that augments existing ultrasound systems.