ENDRA Life Sciences Inc. (NASDAQ:NDRA) Sees Large Increase in Short Interest

ENDRA Life Sciences Inc. (NASDAQ:NDRA) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 42,119 shares, a growth of 92.3% from the June 15th total of 21,904 shares. Approximately 3.7% of the company’s stock are short sold. Based on an average daily volume of 81,330 shares, the short-interest ratio is presently 0.5 days.

ENDRA Life Sciences Price Performance

Shares of ENDRA Life Sciences stock traded down $0.28 on Friday, reaching $4.99. 56,477 shares of the company were exchanged, compared to its average volume of 67,429. ENDRA Life Sciences has a 1-year low of $2.96 and a 1-year high of $9.85. The company has a market cap of $6.34 million, a P/E ratio of -0.61 and a beta of -0.06. The stock’s 50 day moving average price is $5.11 and its 200-day moving average price is $4.59.

ENDRA Life Sciences (NASDAQ:NDRA) last issued its earnings results on Friday, May 15th. The company reported ($1.09) earnings per share for the quarter, beating the consensus estimate of ($1.23) by $0.14. On average, research analysts predict that ENDRA Life Sciences will post -4.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ENDRA Life Sciences

An institutional investor recently bought a new position in ENDRA Life Sciences stock. Altium Capital Management LLC acquired a new position in shares of ENDRA Life Sciences Inc. (NASDAQ:NDRA) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 51,900 shares of the company’s stock, valued at approximately $235,000. ENDRA Life Sciences comprises approximately 0.9% of Altium Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Altium Capital Management LLC owned about 6.92% of ENDRA Life Sciences at the end of the most recent reporting period. 1.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ENDRA Life Sciences in a research note on Monday, April 20th. Ascendiant Capital Markets decreased their price target on shares of ENDRA Life Sciences from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, June 1st. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $25.00.

About ENDRA Life Sciences

ENDRA Life Sciences, Inc (NASDAQ: NDRA) is a medical technology company headquartered in Ann Arbor, Michigan, that focuses on the development and commercialization of Thermoacoustic Enhanced Ultrasound (TAEUS™) imaging. The company’s proprietary TAEUS platform combines conventional ultrasound with thermoacoustic signals to provide non-invasive, real-time temperature monitoring of soft tissue. This technology is designed to improve the safety, efficacy and outcomes of thermal ablation procedures and other heat-based therapies.

ENDRA’s core product line centers on a compact, easy-to-integrate device that augments existing ultrasound systems.