Short Interest in Edap Tms S.A. (NASDAQ:EDAP) Decreases By 34.6%

Edap Tms S.A. (NASDAQ:EDAP) saw a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 26,300 shares, a decline of 34.6% from the February 28th total of 40,200 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 75,200 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On Edap Tms

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in shares of Edap Tms by 23.7% in the third quarter. BNP Paribas Financial Markets now owns 23,000 shares of the medical equipment provider’s stock valued at $59,000 after buying an additional 4,400 shares during the last quarter. Orion Capital Management LLC raised its position in shares of Edap Tms by 10.4% during the 3rd quarter. Orion Capital Management LLC now owns 69,800 shares of the medical equipment provider’s stock valued at $178,000 after buying an additional 6,600 shares during the period. Illumine Investment Management LLC acquired a new position in Edap Tms in the fourth quarter valued at approximately $50,000. Rock Springs Capital Management LP grew its position in Edap Tms by 1.5% in the fourth quarter. Rock Springs Capital Management LP now owns 1,591,800 shares of the medical equipment provider’s stock worth $3,518,000 after acquiring an additional 23,800 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Edap Tms by 218.5% during the 4th quarter. Millennium Management LLC now owns 48,915 shares of the medical equipment provider’s stock worth $108,000 after purchasing an additional 33,558 shares during the period. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EDAP shares. Piper Sandler cut their price target on Edap Tms from $5.00 to $4.50 and set an “overweight” rating on the stock in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $19.00 target price on shares of Edap Tms in a report on Friday. Finally, StockNews.com initiated coverage on Edap Tms in a report on Friday. They issued a “hold” rating for the company.

Edap Tms Price Performance

Shares of EDAP stock traded down $0.07 during mid-day trading on Friday, hitting $2.15. 143,513 shares of the stock were exchanged, compared to its average volume of 86,608. The company has a quick ratio of 1.46, a current ratio of 2.18 and a debt-to-equity ratio of 0.08. Edap Tms has a 52-week low of $1.96 and a 52-week high of $8.50. The firm has a fifty day moving average of $2.42 and a 200 day moving average of $2.51. The company has a market cap of $79.77 million, a PE ratio of -3.31 and a beta of 0.37.

Edap Tms (NASDAQ:EDAP) last issued its quarterly earnings results on Thursday, March 27th. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The company had revenue of $22.69 million for the quarter, compared to the consensus estimate of $20.83 million. Edap Tms had a negative return on equity of 44.21% and a negative net margin of 34.92%. Research analysts anticipate that Edap Tms will post -0.6 earnings per share for the current year.

About Edap Tms

EDAP TMS SA is a holding company, which, through its subsidiary, engages in the development, production, and marketing of minimally invasive medical devices for urological diseases. It operates through the High Intensity Focused Ultrasound (HIFU) and Urology Devices and Services (UDS) segments. The HIFU segment develops, manufactures, and markets devices for the minimally invasive ablation of certain types of localized tumors using HIFU technology.