Modular Medical, Inc. (NASDAQ:MODD – Get Free Report)’s stock price shot up 4.7% during mid-day trading on Monday. The company traded as high as $1.9519 and last traded at $1.80. Approximately 60,818 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 152,966 shares. The stock had previously closed at $1.72.
Wall Street Analyst Weigh In
Several analysts recently issued reports on MODD shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Modular Medical in a report on Monday, September 21st. Wall Street Zen upgraded Modular Medical from a “strong sell” rating to a “sell” rating in a research note on Sunday, August 23rd. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has a consensus rating of “Sell”.
Check Out Our Latest Stock Report on Modular Medical
Modular Medical Trading Down 5.6%
The stock’s fifty day moving average is $2.39 and its two-hundred day moving average is $5.16.
Modular Medical (NASDAQ:MODD – Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($1.19) EPS for the quarter.
Institutional Investors Weigh In On Modular Medical
An institutional investor recently raised its position in Modular Medical stock. AWM Investment Company Inc. increased its holdings in shares of Modular Medical, Inc. (NASDAQ:MODD – Free Report) by 20.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 441,095 shares of the company’s stock after purchasing an additional 74,429 shares during the period. AWM Investment Company Inc. owned 7.38% of Modular Medical worth $1,985,000 as of its most recent filing with the SEC. Institutional investors own 27.47% of the company’s stock.
Modular Medical Company Profile
Modular Medical, Inc (NASDAQ: MODD) is a medical device company focused on developing insulin-delivery systems for people with diabetes. The company’s product development efforts are centered on making insulin pump therapy simpler and more accessible.
Its primary product is MODD1, a wearable insulin pump designed to deliver continuous subcutaneous insulin while emphasizing ease of use and a streamlined design. The company has pursued U.S. regulatory clearance and commercialization of the system as an alternative to more complex insulin-delivery devices.
Modular Medical’s activities are primarily focused on the diabetes-care market in the United States.
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