Modular Medical (NASDAQ:MODD) Releases Earnings Results

Modular Medical (NASDAQ:MODD) announced its earnings results on Tuesday. The company reported ($0.11) EPS for the quarter, FiscalAI reports.

Modular Medical Price Performance

MODD traded up $0.00 on Tuesday, reaching $0.46. The company’s stock had a trading volume of 296,897 shares, compared to its average volume of 224,481. The stock has a market cap of $35.60 million, a price-to-earnings ratio of -0.90 and a beta of 0.17. Modular Medical has a 1 year low of $0.28 and a 1 year high of $1.29. The business’s 50 day moving average is $0.42 and its 200 day moving average is $0.55.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Modular Medical in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Trading of Modular Medical

Hedge funds have recently made changes to their positions in the stock. Perritt Capital Management Inc increased its stake in shares of Modular Medical by 34.2% in the third quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock worth $59,000 after buying an additional 21,675 shares during the last quarter. Warberg Asset Management LLC acquired a new position in Modular Medical during the 3rd quarter worth $31,000. Jane Street Group LLC increased its position in shares of Modular Medical by 446.8% in the 4th quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock worth $60,000 after purchasing an additional 133,969 shares during the last quarter. Sio Capital Management LLC increased its position in shares of Modular Medical by 211.8% in the 2nd quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock worth $585,000 after purchasing an additional 533,834 shares during the last quarter. Finally, Bleichroeder LP raised its stake in shares of Modular Medical by 41.9% in the 4th quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock valued at $1,041,000 after purchasing an additional 845,000 shares in the last quarter. Institutional investors and hedge funds own 27.47% of the company’s stock.

Modular Medical Company Profile

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.