Short Interest in SS Innovations International, Inc. (NASDAQ:SSII) Expands By 179.4%

SS Innovations International, Inc. (NASDAQ:SSII) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 131,067 shares, an increase of 179.4% from the June 30th total of 46,918 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 65,049 shares, the days-to-cover ratio is currently 2.0 days.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SSII. Wall Street Zen raised shares of SS Innovations International from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of SS Innovations International in a report on Friday, July 17th. Finally, Loop Capital set a $7.00 price target on SS Innovations International in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, SS Innovations International currently has a consensus rating of “Sell” and an average price target of $7.00.

Hedge Funds Weigh In On SS Innovations International

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC bought a new stake in shares of SS Innovations International in the 2nd quarter valued at $122,000. Envestnet Asset Management Inc. acquired a new position in SS Innovations International in the third quarter valued at about $71,000. PNC Financial Services Group Inc. acquired a new position in SS Innovations International in the third quarter valued at about $56,000. JNBA Financial Advisors bought a new stake in shares of SS Innovations International in the fourth quarter worth about $498,000. Finally, Handelsbanken Fonder AB increased its holdings in shares of SS Innovations International by 9.3% in the fourth quarter. Handelsbanken Fonder AB now owns 120,000 shares of the company’s stock worth $682,000 after acquiring an additional 10,198 shares in the last quarter.

SS Innovations International Price Performance

Shares of SSII stock opened at $4.07 on Tuesday. The stock has a market cap of $813.54 million, a PE ratio of -81.30 and a beta of -1.96. The stock has a 50-day moving average of $3.69 and a 200-day moving average of $4.31. SS Innovations International has a one year low of $3.11 and a one year high of $10.00.

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

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.