SS Innovations International (NASDAQ:SSII) Shares Gap Down – Here’s What Happened

SS Innovations International, Inc. (NASDAQ:SSII) shares gapped down before the market opened on Wednesday . The stock had previously closed at $3.67, but opened at $3.55. SS Innovations International shares last traded at $3.74, with a volume of 11,826 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SS Innovations International in a research report on Tuesday, April 21st. Wall Street Zen upgraded SS Innovations International from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Finally, Loop Capital set a $7.00 target price on SS Innovations International in a report on Wednesday, June 3rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, SS Innovations International has a consensus rating of “Sell” and a consensus target price of $7.00.

SS Innovations International Stock Down 3.2%

The company has a market cap of $710.66 million, a P/E ratio of -71.04 and a beta of -1.96. The company’s 50-day moving average is $3.75 and its two-hundred day moving average is $4.44.

SS Innovations International (NASDAQ:SSII) last released its earnings results on Wednesday, May 13th. The company reported ($0.02) earnings per share for the quarter. SS Innovations International had a negative net margin of 20.69% and a negative return on equity of 23.00%. The company had revenue of $11.10 million during the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its position in shares of SS Innovations International by 58.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,627 shares of the company’s stock worth $77,000 after acquiring an additional 5,000 shares in the last quarter. IFC & Insurance Marketing Inc. grew its position in shares of SS Innovations International by 47.7% in the first quarter. IFC & Insurance Marketing Inc. now owns 16,730 shares of the company’s stock valued at $84,000 after purchasing an additional 5,400 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of SS Innovations International by 9.3% during the 4th quarter. Handelsbanken Fonder AB now owns 120,000 shares of the company’s stock valued at $682,000 after purchasing an additional 10,198 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of SS Innovations International during the 3rd quarter valued at $71,000. Finally, Jane Street Group LLC purchased a new stake in SS Innovations International during the 4th quarter worth about $63,000.

About SS Innovations International

AVRA Medical Robotics, Inc develops and manufactures medical surgical devices. The company has a research agreement with the University of Central Florida to develop navigation and control technologies with applications in medical robotics. The company was formerly known as AVRA Surgical Microsystems, Inc and changed its name to AVRA Medical Robotics, Inc in November 2015. AVRA Medical Robotics, Inc was founded in 2015 and is based in Orlando, Florida.