Modular Medical (NASDAQ:MODD) Shares Climb 2.3% – Should You Buy?

Modular Medical, Inc. (NASDAQ:MODD) was up 2.3% during trading on Friday. The company traded as high as $2.77 and last traded at $2.72. Approximately 23,163 shares were traded during trading, a decline of 80% from the average session volume of 118,426 shares. The stock had previously closed at $2.66.

Analyst Ratings Changes

MODD has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Modular Medical in a research note on Monday, September 21st. Wall Street Zen raised Modular Medical from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 23rd. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Modular Medical Trading Up 2.3%

The company’s fifty day moving average is $2.66 and its 200-day moving average is $3.75. The firm has a market capitalization of $25.84 million, a P/E ratio of -0.31 and a beta of 0.51.

Modular Medical (NASDAQ:MODD) last posted its earnings results on Friday, August 14th. The company reported ($1.19) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Modular Medical

A hedge fund recently raised its position in Modular Medical stock. AWM Investment Company Inc. grew its holdings in Modular Medical, Inc. (NASDAQ:MODD) by 20.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 441,095 shares of the company’s stock after purchasing an additional 74,429 shares during the quarter. AWM Investment Company Inc. owned about 7.38% of Modular Medical worth $1,985,000 as of its most recent filing with the SEC. 27.47% of the stock is owned by institutional investors and hedge funds.

About Modular Medical

Modular Medical, Inc (NASDAQ:MODD) is a medical device company focused on developing insulin-delivery technology for people with diabetes. The company’s primary product is the MODD1 insulin pump, a wearable delivery system designed to provide an alternative to conventional insulin-delivery methods.

The MODD1 is intended to emphasize ease of use, portability and simplified operation. Modular Medical has focused its development efforts on creating a pump that can support insulin-dependent patients while reducing the complexity often associated with traditional insulin pumps.