Short Interest in Baird Medical Investment Holdings Limited (NASDAQ:BDMD) Drops By 39.8%

Baird Medical Investment Holdings Limited (NASDAQ:BDMD) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 33,197 shares, a drop of 39.8% from the June 15th total of 55,105 shares. Based on an average trading volume of 171,545 shares, the short-interest ratio is presently 0.2 days. Currently, 0.4% of the company’s stock are sold short.

Institutional Trading of Baird Medical Investment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BDMD. Citadel Advisors LLC bought a new position in shares of Baird Medical Investment in the third quarter valued at approximately $99,000. Jane Street Group LLC bought a new stake in Baird Medical Investment during the second quarter worth $142,000. Finally, Geode Capital Management LLC grew its holdings in Baird Medical Investment by 59.7% during the second quarter. Geode Capital Management LLC now owns 25,442 shares of the company’s stock worth $93,000 after buying an additional 9,511 shares in the last quarter. 19.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Baird Medical Investment from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Baird Medical Investment Trading Up 1.0%

Shares of NASDAQ:BDMD traded up $0.01 during midday trading on Friday, hitting $1.06. 41,844 shares of the company’s stock were exchanged, compared to its average volume of 107,039. The stock has a 50 day moving average price of $1.31 and a 200-day moving average price of $1.55. Baird Medical Investment has a 12 month low of $0.76 and a 12 month high of $3.75.

About Baird Medical Investment

Baird Medical Investment Holdings Ltd. is a medical technology company, which engages in the development and provision of medical devices. It is also involved in the design, development, manufacturing, and sale of microwave ablation medical devices, as well as sale of other medical devices. The company was founded on June 16, 2023 and is headquartered in Guangzhou, China.