Short Interest in Femasys Inc. (NASDAQ:FEMY) Grows By 70.1%

Femasys Inc. (NASDAQ:FEMY) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 3,326,404 shares, a growth of 70.1% from the May 14th total of 1,955,435 shares. Based on an average daily volume of 3,901,852 shares, the days-to-cover ratio is currently 0.9 days. Approximately 6.0% of the shares of the company are sold short.

Femasys Price Performance

FEMY stock traded down $0.20 during trading on Monday, reaching $3.98. 97,246 shares of the company were exchanged, compared to its average volume of 49,786. The company has a 50-day moving average of $7.61 and a two-hundred day moving average of $10.90. The company has a market capitalization of $12.02 million, a price-to-earnings ratio of -0.74 and a beta of -2.23. Femasys has a twelve month low of $3.87 and a twelve month high of $22.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.91 and a quick ratio of 1.98.

Femasys (NASDAQ:FEMY) last released its quarterly earnings data on Friday, May 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.33) by $1.43. The business had revenue of $0.42 million during the quarter, compared to analysts’ expectations of $0.77 million. Femasys had a negative net margin of 521.97% and a negative return on equity of 258.08%.

Analyst Ratings Changes

Several brokerages have weighed in on FEMY. Wall Street Zen upgraded shares of Femasys to a “hold” rating in a research report on Saturday. Lake Street Capital began coverage on shares of Femasys in a research report on Tuesday, March 3rd. They issued a “buy” rating and a $30.00 target price for the company. Finally, Weiss Ratings upgraded shares of Femasys from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 3rd. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $106.67.

Hedge Funds Weigh In On Femasys

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kovack Advisors Inc. acquired a new position in Femasys in the 4th quarter valued at approximately $27,000. HRT Financial LP acquired a new position in Femasys in the 4th quarter valued at approximately $30,000. Cetera Investment Advisers acquired a new position in Femasys in the 4th quarter valued at approximately $36,000. Osaic Holdings Inc. acquired a new position in Femasys in the 2nd quarter valued at approximately $45,000. Finally, State Street Corp increased its position in Femasys by 43.5% in the 4th quarter. State Street Corp now owns 80,869 shares of the company’s stock valued at $47,000 after acquiring an additional 24,500 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Femasys Company Profile

Femasys International, Inc is a medical device company focused on the research, development and commercialization of innovative technologies for interventional women’s health applications. The company’s core activities center on creating minimally invasive diagnostic and therapeutic products designed to address uterine cavity evaluation and treatment and to improve outcomes in gynecological care.

The company’s flagship product, the FemVue® hydrosonography system, is a single-use catheter-based device that enhances visualization of the uterine cavity through saline infusion sonography.