Modular Medical Stock Set to Reverse Split on Tuesday, March 31st (NASDAQ:MODD)

Modular Medical, Inc. (NASDAQ:MODD) shares are set to reverse split before the market opens on Tuesday, March 31st. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, March 30th.

Modular Medical Stock Performance

Shares of MODD stock traded down $0.02 during mid-day trading on Friday, reaching $0.16. 2,669,315 shares of the company were exchanged, compared to its average volume of 887,562. The business’s 50 day simple moving average is $0.35 and its 200 day simple moving average is $0.46. The company has a market capitalization of $12.19 million, a P/E ratio of -0.32 and a beta of 0.25. Modular Medical has a fifty-two week low of $0.12 and a fifty-two week high of $1.16.

Modular Medical (NASDAQ:MODD) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($0.11) earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Modular Medical in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Trading of Modular Medical

Institutional investors and hedge funds have recently modified their holdings of the business. Sio Capital Management LLC boosted its holdings in shares of Modular Medical by 211.8% in the 2nd quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock valued at $585,000 after buying an additional 533,834 shares during the period. Warberg Asset Management LLC acquired a new stake in Modular Medical during the third quarter worth about $31,000. Perritt Capital Management Inc raised its stake in Modular Medical by 34.2% during the third quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock worth $59,000 after acquiring an additional 21,675 shares during the period. Jane Street Group LLC lifted its holdings in Modular Medical by 446.8% in the fourth quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock worth $60,000 after acquiring an additional 133,969 shares during the last quarter. Finally, Bleichroeder LP boosted its stake in Modular Medical by 41.9% in the fourth quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock valued at $1,041,000 after acquiring an additional 845,000 shares during the period. 27.47% of the stock is owned by institutional investors and hedge funds.

Modular Medical Company Profile

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.