Carlsmed (NASDAQ:CARL) Shares Break Above 50 Day Moving Average – Time to Sell?

Carlsmed, Inc. (NASDAQ:CARL) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $14.91 and traded as high as $19.15. Carlsmed shares last traded at $18.60, with a volume of 609,879 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CARL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Carlsmed in a research report on Wednesday, November 4th. Truist Financial raised their target price on Carlsmed from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday. BTIG Research lifted their target price on Carlsmed from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday. Wall Street Zen upgraded Carlsmed from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Needham & Company LLC increased their price target on Carlsmed from $17.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.00.

Carlsmed Stock Down 1.0%

The business’s 50 day moving average price is $14.97 and its two-hundred day moving average price is $12.58. The company has a quick ratio of 8.66, a current ratio of 5.79 and a debt-to-equity ratio of 0.20.

Carlsmed (NASDAQ:CARL) last announced its earnings results on Tuesday, November 10th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.08. The firm had revenue of $21.55 million for the quarter. Carlsmed had a negative return on equity of 42.42% and a negative net margin of 55.82%. Equities analysts forecast that Carlsmed, Inc. will post -1.53 earnings per share for the current year.

Institutional Trading of Carlsmed

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jupiter Topco LLC bought a new position in Carlsmed during the second quarter valued at about $12,992,000. Janus Henderson Group PLC grew its holdings in Carlsmed by 7.6% during the first quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company’s stock worth $11,108,000 after acquiring an additional 86,834 shares during the period. Parkman Healthcare Partners LLC bought a new stake in Carlsmed in the second quarter worth about $6,200,000. BlackRock Inc. acquired a new stake in Carlsmed in the 2nd quarter valued at about $5,528,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Carlsmed by 85.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 257,805 shares of the company’s stock valued at $3,627,000 after purchasing an additional 118,663 shares in the last quarter.

About Carlsmed

Carlsmed, Inc. is a medical technology company focused on personalized solutions for spine surgery. Its technology uses patient-specific planning and implant design to help surgeons plan spinal-fusion procedures. The company’s products include aprevo®, a line of patient-specific interbody implants made using 3D printing. Carlsmed’s platform is designed to use a patient’s imaging and surgical plan to tailor implant geometry and support alignment goals. Founded in 2018 and based in Carlsbad, California, Carlsmed serves the U.S. market.