Short Interest in SeaStar Medical Holding Corporation (NASDAQ:ICU) Decreases By 28.0%

SeaStar Medical Holding Corporation (NASDAQ:ICU) was the recipient of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 167,946 shares, a decline of 28.0% from the February 26th total of 233,272 shares. Approximately 4.5% of the company’s shares are sold short. Based on an average daily volume of 57,628 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Trading of SeaStar Medical

Several institutional investors and hedge funds have recently made changes to their positions in ICU. Trinity Financial Advisors LLC boosted its stake in shares of SeaStar Medical by 233.3% during the third quarter. Trinity Financial Advisors LLC now owns 50,000 shares of the company’s stock valued at $28,000 after purchasing an additional 35,000 shares during the period. XTX Topco Ltd increased its stake in SeaStar Medical by 395.4% in the 2nd quarter. XTX Topco Ltd now owns 60,983 shares of the company’s stock worth $26,000 after buying an additional 48,674 shares during the period. Jane Street Group LLC purchased a new position in SeaStar Medical in the 4th quarter worth about $30,000. Finally, Millennium Management LLC bought a new stake in SeaStar Medical during the 3rd quarter valued at about $102,000. 1.69% of the stock is currently owned by institutional investors.

SeaStar Medical Price Performance

Shares of NASDAQ:ICU traded down $0.05 during trading hours on Friday, hitting $2.74. 143,782 shares of the company’s stock traded hands, compared to its average volume of 101,212. The firm has a market capitalization of $10.94 million, a P/E ratio of -0.33 and a beta of -1.04. The business has a fifty day moving average price of $2.47 and a 200-day moving average price of $4.05. SeaStar Medical has a 1 year low of $2.07 and a 1 year high of $19.07.

SeaStar Medical (NASDAQ:ICU) last issued its quarterly earnings results on Wednesday, March 25th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.17. SeaStar Medical had a negative return on equity of 188.47% and a negative net margin of 984.60%.The firm had revenue of $0.42 million for the quarter, compared to the consensus estimate of $0.22 million.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of SeaStar Medical in a report on Thursday, January 22nd. Wall Street Zen raised shares of SeaStar Medical to a “hold” rating in a research note on Saturday, January 10th. Finally, Maxim Group set a $6.00 target price on shares of SeaStar Medical in a research note on Thursday, February 12th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, SeaStar Medical presently has an average rating of “Sell” and an average target price of $6.00.

SeaStar Medical Company Profile

SeaStar Medical, Inc (NASDAQ: ICU) is a medical device company focused on the development and commercialization of cerebral embolic protection systems for patients undergoing transcatheter aortic valve replacement (TAVR) procedures. The company’s mission is to reduce the risk of stroke and other neurologic events associated with structural heart interventions by capturing or deflecting embolic debris that can travel to the brain during catheter-based therapies.

The company’s flagship product, TriGUARD® 3, is a next-generation embolic deflection device designed to provide coverage of all three cerebral vessels during TAVR.