Stereotaxis (NYSEAMERICAN:STXS) Shares Down 6.1% – Should You Sell?

Stereotaxis Inc. (NYSEAMERICAN:STXS)’s stock price dropped 6.1% on Friday . The stock traded as low as $1.48 and last traded at $1.55. 5,670,280 shares were traded during trading, an increase of 570% from the average daily volume of 846,499 shares. The stock had previously closed at $1.65.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup restated a “market outperform” rating on shares of Stereotaxis in a research note on Wednesday, June 3rd. Piper Sandler reiterated an “overweight” rating and set a $3.50 price objective (down from $4.00) on shares of Stereotaxis in a research report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $3.88.

Stereotaxis Stock Down 6.1%

The company’s fifty day moving average price is $1.81 and its 200 day moving average price is $2.01. The company has a market capitalization of $151.79 million, a P/E ratio of -6.46 and a beta of 1.34.

Hedge Funds Weigh In On Stereotaxis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STXS. WealthPLAN Partners LLC bought a new stake in shares of Stereotaxis during the 4th quarter valued at $29,000. SG Americas Securities LLC bought a new position in shares of Stereotaxis in the fourth quarter worth $33,000. BNP Paribas Financial Markets increased its position in shares of Stereotaxis by 106.5% in the third quarter. BNP Paribas Financial Markets now owns 11,461 shares of the company’s stock worth $36,000 after purchasing an additional 5,910 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in Stereotaxis in the third quarter valued at about $38,000. Finally, HRT Financial LP acquired a new position in Stereotaxis in the fourth quarter valued at about $42,000. 45.35% of the stock is owned by institutional investors and hedge funds.

Stereotaxis Company Profile

Stereotaxis, Inc is a medical device company that develops and commercializes robotic magnetic navigation systems for use in electrophysiology procedures. Its core technology leverages precisely controlled magnetic fields to guide ultra-thin, magnetically enabled catheters through the vascular system, allowing physicians to perform complex cardiac ablation and diagnostic procedures with enhanced precision and stability. This platform aims to reduce procedure times and radiation exposure for both patients and clinical staff.

The company’s flagship offering, the Niobe Magnetic Navigation System, integrates with a variety of catheter types and electrophysiology mapping systems to support treatment of arrhythmias such as atrial fibrillation and ventricular tachycardia.