Modular Medical Stock Scheduled to Reverse Split on Tuesday, March 31st (NASDAQ:MODD)

Modular Medical, Inc. (NASDAQ:MODD) shares are set to reverse split before the market opens on Tuesday, March 31st. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, March 30th.

Modular Medical Stock Performance

Shares of Modular Medical stock traded down $0.02 on Friday, reaching $0.16. 2,669,315 shares of the company were exchanged, compared to its average volume of 887,562. The firm has a market cap of $12.19 million, a price-to-earnings ratio of -0.32 and a beta of 0.25. Modular Medical has a 1-year low of $0.12 and a 1-year high of $1.16. The company’s 50-day moving average is $0.35 and its two-hundred day moving average is $0.46.

Modular Medical (NASDAQ:MODD) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($0.11) EPS for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Modular Medical in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Trading of Modular Medical

Several institutional investors have recently modified their holdings of the company. Sio Capital Management LLC grew its holdings in Modular Medical by 211.8% during the second quarter. Sio Capital Management LLC now owns 785,824 shares of the company’s stock worth $585,000 after acquiring an additional 533,834 shares during the period. Warberg Asset Management LLC bought a new position in shares of Modular Medical during the 3rd quarter valued at about $31,000. Perritt Capital Management Inc boosted its position in shares of Modular Medical by 34.2% during the 3rd quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock valued at $59,000 after purchasing an additional 21,675 shares in the last quarter. Jane Street Group LLC grew its stake 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. Finally, Bleichroeder LP raised its holdings 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 worth $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.

About Modular Medical

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.