SS Innovations International (NASDAQ:SSII) Shares Down 8.7% – Here’s Why

SS Innovations International, Inc. (NASDAQ:SSII)’s stock price dropped 8.7% during mid-day trading on Friday . The company traded as low as $3.44 and last traded at $3.55. Approximately 2,184 shares were traded during trading, a decline of 98% from the average daily volume of 106,217 shares. The stock had previously closed at $3.89.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of SS Innovations International in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

SS Innovations International Stock Performance

The company has a market cap of $738.56 million and a P/E ratio of -76.00. The company has a fifty day moving average price of $5.47 and a two-hundred day moving average price of $6.46.

SS Innovations International (NASDAQ:SSII) last released its earnings results on Tuesday, January 13th. The company reported $0.04 earnings per share (EPS) for the quarter. SS Innovations International had a negative return on equity of 34.13% and a negative net margin of 32.10%.

Hedge Funds Weigh In On SS Innovations International

A number of institutional investors have recently added to or reduced their stakes in SSII. PNC Financial Services Group Inc. raised its position in SS Innovations International by 58.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,627 shares of the company’s stock worth $77,000 after acquiring an additional 5,000 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of SS Innovations International by 9.3% during the 4th quarter. Handelsbanken Fonder AB now owns 120,000 shares of the company’s stock worth $682,000 after purchasing an additional 10,198 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of SS Innovations International in the 3rd quarter valued at about $71,000. AlTi Global Inc. acquired a new stake in SS Innovations International in the 2nd quarter valued at about $121,000. Finally, Geode Capital Management LLC bought a new position in SS Innovations International during the second quarter worth about $122,000.

SS Innovations International Company Profile

AVRA Medical Robotics, Inc develops and manufactures medical surgical devices. The company has a research agreement with the University of Central Florida to develop navigation and control technologies with applications in medical robotics. The company was formerly known as AVRA Surgical Microsystems, Inc and changed its name to AVRA Medical Robotics, Inc in November 2015. AVRA Medical Robotics, Inc was founded in 2015 and is based in Orlando, Florida.