Itonic Holdings Ltd. (NASDAQ:ITOC) Sees Large Drop in Short Interest

Itonic Holdings Ltd. (NASDAQ:ITOC) saw a large decrease in short interest in September. As of September 15th, there was short interest totaling 62,815 shares, a decrease of 40.4% from the August 31st total of 105,460 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 117,111 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Itonic from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Itonic Stock Performance

Shares of ITOC traded up $0.01 during midday trading on Thursday, hitting $0.29. The company had a trading volume of 101,430 shares, compared to its average volume of 2,049,170. Itonic has a 1 year low of $0.22 and a 1 year high of $1.15. The company’s 50-day simple moving average is $0.29 and its 200-day simple moving average is $0.31.

Itonic (NASDAQ:ITOC) last released its earnings results on Wednesday, September 30th. The company reported ($0.05) earnings per share for the quarter. The company had revenue of $0.05 million for the quarter.

About Itonic

iTonic Holdings Ltd., a healthcare solutions provider, develops and commercializes treatment software and devices used for brachytherapy. Its proprietary treatment planning system is a radioactive particle implantation, a radiotherapy used in treating cancer patients by placing radioactive sources inside the patient that kill cancer cells and shrink tumors. The company offers FTTPS, a treatment planning system for treating various malignant tumors, which could determine the target volume, prescription dose, and dose limitation to protect organs at risks and produce dose distribution plan for brachytherapy for cancer patients.