Baird Medical Investment Holdings Limited (NASDAQ:BDMD) Short Interest Down 27.4% in March

Baird Medical Investment Holdings Limited (NASDAQ:BDMD) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 625,024 shares, a drop of 27.4% from the February 26th total of 861,286 shares. Currently, 11.2% of the company’s stock are short sold. Based on an average trading volume of 2,223,976 shares, the days-to-cover ratio is presently 0.3 days.

Analysts Set New Price Targets

A number of brokerages have weighed in on BDMD. Wall Street Zen raised shares of Baird Medical Investment to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings restated a “sell (d)” rating on shares of Baird Medical Investment in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Baird Medical Investment Price Performance

BDMD opened at $2.02 on Monday. The stock has a 50-day moving average price of $1.72 and a 200-day moving average price of $1.63. Baird Medical Investment has a 1 year low of $0.76 and a 1 year high of $7.26.

Hedge Funds Weigh In On Baird Medical Investment

A number of hedge funds have recently added to or reduced their stakes in BDMD. Geode Capital Management LLC boosted its stake in Baird Medical Investment by 59.7% during the 2nd quarter. Geode Capital Management LLC now owns 25,442 shares of the company’s stock valued at $93,000 after purchasing an additional 9,511 shares during the last quarter. Citadel Advisors LLC bought a new stake in Baird Medical Investment in the 3rd quarter worth about $99,000. Finally, Jane Street Group LLC bought a new stake in Baird Medical Investment in the 2nd quarter worth about $142,000. 19.78% of the stock is currently owned by hedge funds and other institutional investors.

Baird Medical Investment Company Profile

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.