Endologix, Inc. (NASDAQ:ELGX) Short Interest Up 10.6% in October

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Endologix, Inc. (NASDAQ:ELGX) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,560,000 shares, a growth of 10.6% from the September 30th total of 1,410,000 shares. Approximately 10.2% of the company’s shares are sold short. Based on an average daily volume of 211,900 shares, the short-interest ratio is currently 7.4 days.

A number of institutional investors and hedge funds have recently made changes to their positions in ELGX. Jane Street Group LLC purchased a new stake in Endologix in the second quarter worth about $91,000. Russell Investments Group Ltd. purchased a new stake in Endologix in the third quarter worth about $96,000. M&T Bank Corp purchased a new stake in Endologix in the second quarter worth about $102,000. Zacks Investment Management purchased a new stake in Endologix in the second quarter worth about $108,000. Finally, HighTower Advisors LLC purchased a new stake in Endologix in the second quarter worth about $145,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

Endologix stock traded up $0.02 during mid-day trading on Friday, hitting $2.88. The company’s stock had a trading volume of 68,700 shares, compared to its average volume of 199,107. The stock has a market cap of $54.01 million, a price-to-earnings ratio of -0.40 and a beta of 0.26. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.22 and a quick ratio of 1.55. Endologix has a 12 month low of $2.28 and a 12 month high of $10.40. The business has a 50 day moving average price of $3.32 and a 200-day moving average price of $5.62.

Endologix (NASDAQ:ELGX) last announced its quarterly earnings data on Wednesday, November 6th. The medical instruments supplier reported ($0.55) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.08. The business had revenue of $35.78 million for the quarter, compared to analysts’ expectations of $35.26 million. Endologix had a negative net margin of 58.24% and a negative return on equity of 99.62%. On average, equities research analysts expect that Endologix will post -2.69 earnings per share for the current fiscal year.

ELGX has been the subject of several recent research reports. ValuEngine downgraded shares of Endologix from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Zacks Investment Research downgraded shares of Endologix from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada set a $7.00 price target on shares of Endologix and gave the stock a “hold” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $7.17.

About Endologix

Endologix, Inc develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. The company offers minimally-invasive endovascular aneurysm repair (EVAR), including AFX (Anatomical Fixation) endovascular AAA system, which is a minimally invasive delivery system; VELA Proximal Endograft, which is designed for the treatment of proximal aortic neck anatomies with AFX; and the Ovation abdominal stent graft system.

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