Apyx Medical (NASDAQ:APYX) Stock Price Down 1.9% – Here’s Why

Apyx Medical Corporation (NASDAQ:APYX) dropped 1.9% during mid-day trading on Monday . The stock traded as low as $4.55 and last traded at $4.60. Approximately 134,598 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 156,646 shares. The stock had previously closed at $4.69.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Apyx Medical in a research note on Friday, March 27th. Craig Hallum lifted their price objective on shares of Apyx Medical from $5.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Wall Street Zen lowered shares of Apyx Medical from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Finally, BTIG Research raised shares of Apyx Medical from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.50.

Apyx Medical Stock Down 1.9%

The company’s fifty day simple moving average is $3.96 and its 200-day simple moving average is $3.82. The company has a debt-to-equity ratio of 2.68, a current ratio of 5.80 and a quick ratio of 4.79. The firm has a market capitalization of $192.60 million, a PE ratio of -20.91 and a beta of 1.39.

Apyx Medical (NASDAQ:APYX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06. Apyx Medical had a negative net margin of 16.40% and a negative return on equity of 88.47%. The business had revenue of $12.49 million for the quarter, compared to analyst estimates of $10.53 million.

Hedge Funds Weigh In On Apyx Medical

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nantahala Capital Management LLC lifted its stake in shares of Apyx Medical by 19.1% during the fourth quarter. Nantahala Capital Management LLC now owns 3,974,091 shares of the company’s stock worth $13,909,000 after buying an additional 636,043 shares during the period. Royce & Associates LP lifted its stake in shares of Apyx Medical by 1.4% during the third quarter. Royce & Associates LP now owns 2,474,399 shares of the company’s stock worth $5,295,000 after buying an additional 34,696 shares during the period. Vanguard Group Inc. lifted its stake in shares of Apyx Medical by 3.6% during the third quarter. Vanguard Group Inc. now owns 1,528,947 shares of the company’s stock worth $3,272,000 after buying an additional 53,175 shares during the period. AIGH Capital Management LLC acquired a new stake in shares of Apyx Medical during the fourth quarter worth $3,867,000. Finally, Silverberg Bernstein Capital Management LLC lifted its stake in shares of Apyx Medical by 0.8% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 1,041,070 shares of the company’s stock worth $3,842,000 after buying an additional 8,067 shares during the period. 55.33% of the stock is owned by hedge funds and other institutional investors.

About Apyx Medical

Apyx Medical (NASDAQ: APYX) is a medical device company focused on the development and commercialization of energy-based solutions for surgical and aesthetic applications. The company’s product portfolio includes devices that utilize radiofrequency energy, cold plasma and proprietary technologies designed to deliver precise thermal control and tissue treatment. Its key offerings encompass the J-Plasma technology under the Renuvion brand, which is primarily used for subdermal skin tightening and aesthetic procedures, and its portfolio of advanced energy medical devices for general surgery, gynecology and dermatology.

Leveraging its dual focus on surgical and aesthetic markets, Apyx Medical serves physicians and healthcare providers across North America, Europe and select international regions.