Apyx Medical Corporation (NASDAQ:APYX) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of Apyx Medical Corporation (NASDAQ:APYX) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $6.50.

APYX has been the subject of a number of analyst reports. Zacks Research raised Apyx Medical to a “hold” rating in a research report on Tuesday, July 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Apyx Medical in a report on Monday, September 21st. HC Wainwright initiated coverage on shares of Apyx Medical in a research report on Monday, July 13th. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, Maxim Group initiated coverage on shares of Apyx Medical in a report on Tuesday, September 29th. They issued a “buy” rating and a $6.00 price objective on the stock.

Apyx Medical Trading Up 4.4%

Shares of APYX stock opened at $2.61 on Thursday. The stock has a market capitalization of $109.94 million, a P/E ratio of -13.05 and a beta of 1.45. Apyx Medical has a fifty-two week low of $2.25 and a fifty-two week high of $5.08. The company has a debt-to-equity ratio of 3.19, a quick ratio of 4.53 and a current ratio of 5.68. The company has a 50 day moving average price of $2.79 and a 200 day moving average price of $3.62.

Apyx Medical (NASDAQ:APYX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. The business had revenue of $13.88 million for the quarter, compared to analysts’ expectations of $13.18 million. Apyx Medical had a negative return on equity of 76.60% and a negative net margin of 14.78%. Equities research analysts predict that Apyx Medical will post -0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Apyx Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its stake in Apyx Medical by 38.5% during the 2nd quarter. NewEdge Advisors LLC now owns 95,815 shares of the company’s stock worth $430,000 after acquiring an additional 26,640 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Apyx Medical in the 2nd quarter valued at about $144,000. AXQ Capital LP purchased a new position in Apyx Medical during the 2nd quarter worth approximately $78,000. Nwam LLC grew its stake in Apyx Medical by 35.0% during the 2nd quarter. Nwam LLC now owns 17,239 shares of the company’s stock worth $77,000 after buying an additional 4,467 shares during the last quarter. Finally, Nantahala Capital Management LLC acquired a new position in Apyx Medical during the second quarter worth approximately $14,683,414. 55.33% of the stock is owned by institutional investors and hedge funds.

Apyx Medical Company Profile

Apyx Medical Corporation develops and commercializes energy-based medical technologies for use in surgical and aesthetic procedures. The company’s platform is based on helium plasma technology, which is designed to deliver controlled energy for soft-tissue coagulation, cutting, and contraction.

Apyx Medical’s principal product line is Renuvion, a system that combines helium plasma with radiofrequency energy. Renuvion devices and handpieces are used by physicians in a range of surgical and aesthetic applications, including procedures intended to coagulate tissue and address skin laxity.