Profound Medical (TSE:PRN) Stock Price Down 2.9% – Here’s What Happened

Profound Medical Corp. (TSE:PRN) shares traded down 2.9% during trading on Monday . The company traded as low as C$9.14 and last traded at C$9.27. 9,809 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 19,005 shares. The stock had previously closed at C$9.55.

Profound Medical Price Performance

The company has a quick ratio of 14.98, a current ratio of 12.52 and a debt-to-equity ratio of 7.09. The stock has a market cap of C$336.45 million, a P/E ratio of -6.57 and a beta of 1.07. The firm has a 50 day moving average price of C$8.78 and a 200 day moving average price of C$9.23.

Profound Medical (TSE:PRN) last released its earnings results on Thursday, March 5th. The company reported C$0.37 earnings per share (EPS) for the quarter. Profound Medical had a negative net margin of 248.45% and a negative return on equity of 85.73%. The company had revenue of C$8.00 million during the quarter. On average, analysts forecast that Profound Medical Corp. will post -1.9000001 EPS for the current fiscal year.

Insider Buying and Selling at Profound Medical

In other news, Director Dr. Arun Menawat acquired 20,000 shares of Profound Medical stock in a transaction dated Friday, March 20th. The stock was purchased at an average cost of C$6.96 per share, with a total value of C$139,200.00. Following the completion of the purchase, the director directly owned 658,660 shares in the company, valued at approximately C$4,584,273.60. This trade represents a 3.13% increase in their position. 8.62% of the stock is currently owned by insiders.

Profound Medical Company Profile

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.