Dextera Surgical (DXTR) Trading Down 35.7%

Dextera Surgical Inc (NASDAQ:DXTR) traded down 35.7% on Wednesday . The stock traded as low as $0.08 and last traded at $0.09. 16,759,100 shares were traded during trading, an increase of 367% from the average session volume of 3,585,784 shares. The stock had previously closed at $0.14.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Dextera Surgical from a “sell” rating to a “hold” rating in a research report on Tuesday. Ladenburg Thalmann Financial Services assumed coverage on Dextera Surgical in a research report on Wednesday, August 16th. They set a “buy” rating and a $0.80 price target on the stock.

Dextera Surgical (NASDAQ:DXTR) last announced its quarterly earnings results on Thursday, November 9th. The medical instruments supplier reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). The firm had revenue of $0.69 million during the quarter, compared to analysts’ expectations of $0.62 million. sell-side analysts forecast that Dextera Surgical Inc will post -0.25 earnings per share for the current year.

An institutional investor recently raised its position in Dextera Surgical stock. Broadfin Capital LLC lifted its holdings in shares of Dextera Surgical Inc (NASDAQ:DXTR) by 64.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 987,520 shares of the medical instruments supplier’s stock after purchasing an additional 388,080 shares during the quarter. Broadfin Capital LLC owned 11.06% of Dextera Surgical worth $296,000 at the end of the most recent quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

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Dextera Surgical Company Profile

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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