Short Interest in GlucoTrack, Inc. (NASDAQ:GCTK) Decreases By 93.5%

GlucoTrack, Inc. (NASDAQ:GCTK) was the recipient of a large decrease in short interest in August. As of August 14th, there was short interest totaling 165,864 shares, a decrease of 93.5% from the July 30th total of 2,555,155 shares. Currently, 2.3% of the company’s shares are sold short. Based on an average daily volume of 7,214,843 shares, the days-to-cover ratio is currently 0.0 days.

Analysts Set New Price Targets

GCTK has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GlucoTrack in a research report on Friday, July 17th. Wall Street Zen raised shares of GlucoTrack from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

GlucoTrack Stock Down 5.0%

Shares of NASDAQ:GCTK traded down $0.02 during mid-day trading on Wednesday, hitting $0.32. 507,127 shares of the company traded hands, compared to its average volume of 6,259,336. The firm’s 50 day simple moving average is $0.39 and its 200 day simple moving average is $0.77. The firm has a market cap of $2.50 million, a P/E ratio of -0.04 and a beta of 0.70. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.46 and a current ratio of 0.46. GlucoTrack has a 52-week low of $0.25 and a 52-week high of $14.14.

GlucoTrack (NASDAQ:GCTK) last released its quarterly earnings results on Friday, August 14th. The company reported $0.76 earnings per share for the quarter.

Institutional Trading of GlucoTrack

Several large investors have recently modified their holdings of the business. Ikarian Capital LLC acquired a new position in shares of GlucoTrack in the fourth quarter worth about $177,000. Boothbay Fund Management LLC purchased a new position in GlucoTrack in the fourth quarter valued at about $52,000. Finally, Bank of America Corp DE boosted its holdings in GlucoTrack by 102,125.0% in the second quarter. Bank of America Corp DE now owns 4,089 shares of the company’s stock valued at $25,000 after purchasing an additional 4,085 shares during the last quarter. 10.92% of the stock is currently owned by institutional investors and hedge funds.

About GlucoTrack

GlucoTrack, Inc, a medical device company, focused on the design, development, and commercialization of novel technologies for people with diabetes in the United States. It develops GlucoTrack, a noninvasive glucose monitoring device that helps people with diabetes and pre-diabetics to obtain blood glucose level readings without the pain. The company was formerly known as Integrity Applications, Inc and changed its name to GlucoTrack, Inc in November 2021. GlucoTrack, Inc was founded in 2001 and is based in Rutherford, New Jersey.