SS Innovations International (NASDAQ:SSII) Posts Quarterly Earnings Results

SS Innovations International (NASDAQ:SSII) posted its quarterly earnings results on Wednesday. The company reported ($0.02) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $11.10 million during the quarter. SS Innovations International had a negative net margin of 20.69% and a negative return on equity of 25.10%.

SS Innovations International Stock Down 2.3%

Shares of SS Innovations International stock traded down $0.09 during trading on Friday, reaching $3.90. 24,121 shares of the company were exchanged, compared to its average volume of 77,441. The business has a 50-day moving average price of $4.60 and a 200-day moving average price of $5.28. The firm has a market capitalization of $780.51 million and a price-to-earnings ratio of -78.80. SS Innovations International has a twelve month low of $3.02 and a twelve month high of $11.87.

Insiders Place Their Bets

In other news, Director Frederic H. Moll purchased 501,253 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average cost of $3.99 per share, for a total transaction of $1,999,999.47. Following the transaction, the director directly owned 10,775,485 shares of the company’s stock, valued at approximately $42,994,185.15. The trade was a 4.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Srivastava Sudhir acquired 498,753 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were purchased at an average price of $4.01 per share, with a total value of $1,999,999.53. Following the acquisition, the chief executive officer owned 109,851,767 shares of the company’s stock, valued at approximately $440,505,585.67. This trade represents a 0.46% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 1,300,006 shares of company stock worth $5,196,999.

Hedge Funds Weigh In On SS Innovations International

A number of hedge funds and other institutional investors have recently made changes to their positions in SSII. Inspire Investing LLC grew its holdings in shares of SS Innovations International by 26.4% in the 1st quarter. Inspire Investing LLC now owns 104,624 shares of the company’s stock valued at $523,000 after buying an additional 21,851 shares during the period. IFC & Insurance Marketing Inc. lifted its holdings in SS Innovations International by 47.7% during the first quarter. IFC & Insurance Marketing Inc. now owns 16,730 shares of the company’s stock worth $84,000 after acquiring an additional 5,400 shares in the last quarter. Eversept Partners LP bought a new position in SS Innovations International during the fourth quarter worth about $428,000. Vontobel Holding Ltd. acquired a new position in SS Innovations International in the fourth quarter valued at about $116,000. Finally, Jane Street Group LLC bought a new stake in shares of SS Innovations International in the fourth quarter worth about $63,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of SS Innovations International in a research report on Tuesday, April 21st. Wall Street Zen downgraded shares of SS Innovations International from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

About SS Innovations International

AVRA Medical Robotics, Inc develops and manufactures medical surgical devices. The company has a research agreement with the University of Central Florida to develop navigation and control technologies with applications in medical robotics. The company was formerly known as AVRA Surgical Microsystems, Inc and changed its name to AVRA Medical Robotics, Inc in November 2015. AVRA Medical Robotics, Inc was founded in 2015 and is based in Orlando, Florida.