Dextera Surgical Inc. (NASDAQ:DXTR) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 908,603 shares, a decline of 79.7% from the October 13th total of 4,483,023 shares. Based on an average daily trading volume, of 9,734,394 shares, the short-interest ratio is presently 0.1 days. Currently, 1.9% of the company’s shares are sold short.
A number of research firms recently weighed in on DXTR. Zacks Investment Research downgraded shares of Dextera Surgical from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Ladenburg Thalmann Financial Services began coverage on shares of Dextera Surgical in a research note on Wednesday, August 16th. They set a “buy” rating and a $0.80 price target for the company.
Shares of Dextera Surgical (NASDAQ:DXTR) opened at $0.16 on Wednesday. Dextera Surgical has a 12 month low of $0.11 and a 12 month high of $2.33.
Dextera Surgical (NASDAQ:DXTR) last posted its quarterly earnings results on Thursday, November 9th. The medical instruments supplier reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.02). The company had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.62 million. sell-side analysts anticipate that Dextera Surgical will post -0.25 earnings per share for the current year.
Large investors have recently modified their holdings of the business. Perkins Capital Management Inc. bought a new stake in Dextera Surgical in the second quarter valued at approximately $100,000. Virtu KCG Holdings LLC increased its stake in Dextera Surgical by 1,380.6% in the second quarter. Virtu KCG Holdings LLC now owns 369,918 shares of the medical instruments supplier’s stock valued at $111,000 after purchasing an additional 344,933 shares in the last quarter. Finally, Broadfin Capital LLC increased its stake in Dextera Surgical by 64.7% in the second quarter. Broadfin Capital LLC now owns 987,520 shares of the medical instruments supplier’s stock valued at $296,000 after purchasing an additional 388,080 shares in the last quarter. 6.21% of the stock is owned by hedge funds and other institutional investors.
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About Dextera Surgical
Dextera Surgical Inc, formerly Cardica, Inc, designs and manufactures stapling devices that enable the advancement of minimally invasive surgical procedures. The Company is engaged in commercializing and developing its MicroCutter 5/80 stapler based on its staple-on-a-strip technology for use by thoracic, pediatric, bariatric, colorectal and general surgeons.
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