Profound Medical Corp. (NASDAQ:PROF) Short Interest Up 23.9% in February

Profound Medical Corp. (NASDAQ:PROF) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 474,700 shares, a growth of 23.9% from the February 13th total of 383,200 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 90,300 shares, the days-to-cover ratio is currently 5.3 days.

Institutional Investors Weigh In On Profound Medical

A number of institutional investors and hedge funds have recently made changes to their positions in PROF. Royce & Associates LP raised its position in shares of Profound Medical by 0.6% during the third quarter. Royce & Associates LP now owns 569,298 shares of the company’s stock worth $4,529,000 after acquiring an additional 3,500 shares during the last quarter. Thompson Davis & CO. Inc. raised its position in shares of Profound Medical by 36.2% during the third quarter. Thompson Davis & CO. Inc. now owns 101,900 shares of the company’s stock worth $811,000 after acquiring an additional 27,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Profound Medical in the third quarter valued at about $612,000. Raymond James Trust N.A. increased its holdings in Profound Medical by 14.3% in the third quarter. Raymond James Trust N.A. now owns 12,000 shares of the company’s stock valued at $96,000 after purchasing an additional 1,500 shares during the last quarter. Finally, K2 Principal Fund L.P. bought a new stake in Profound Medical in the third quarter valued at about $398,000. Institutional investors own 47.86% of the company’s stock.

Profound Medical Price Performance

Shares of NASDAQ:PROF opened at $6.55 on Wednesday. Profound Medical has a 1-year low of $5.63 and a 1-year high of $11.42. The firm has a market capitalization of $196.73 million, a PE ratio of -4.63 and a beta of 0.78. The business’s 50 day moving average is $6.92 and its 200-day moving average is $7.45. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11.

Profound Medical (NASDAQ:PROF) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.11. Profound Medical had a negative return on equity of 85.22% and a negative net margin of 349.41%. The business had revenue of $4.18 million for the quarter, compared to analyst estimates of $5.92 million. Sell-side analysts predict that Profound Medical will post -1.12 earnings per share for the current year.

About Profound Medical

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.