Apyx Medical Co. (NASDAQ:APYX – Get Rating) was the recipient of a large drop in short interest during the month of December. As of December 30th, there was short interest totalling 870,400 shares, a drop of 5.0% from the December 15th total of 916,400 shares. Based on an average daily volume of 321,900 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.9% of the company’s shares are sold short.
Apyx Medical Price Performance
Shares of NASDAQ APYX opened at $2.64 on Monday. Apyx Medical has a 1 year low of $1.31 and a 1 year high of $12.16. The company has a market capitalization of $91.34 million, a price-to-earnings ratio of -4.71 and a beta of 1.20. The business has a 50-day moving average of $2.06 and a two-hundred day moving average of $4.79.
Apyx Medical (NASDAQ:APYX – Get Rating) last announced its quarterly earnings results on Thursday, November 10th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). The business had revenue of $9.11 million during the quarter, compared to analyst estimates of $12.00 million. Apyx Medical had a negative net margin of 39.28% and a negative return on equity of 39.82%. As a group, equities research analysts expect that Apyx Medical will post -0.64 earnings per share for the current year.
Analyst Upgrades and Downgrades
APYX has been the topic of several recent analyst reports. Craig Hallum decreased their price objective on shares of Apyx Medical to $10.00 in a report on Wednesday, November 16th. Piper Sandler dropped their target price on Apyx Medical to $3.00 in a research report on Wednesday, November 16th. JMP Securities lowered Apyx Medical from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 10th. Finally, Lake Street Capital restated a “buy” rating and set a $5.00 price target on shares of Apyx Medical in a report on Thursday, December 8th.
Institutional Trading of Apyx Medical
Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of Apyx Medical by 3,565.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,147 shares of the company’s stock valued at $32,000 after acquiring an additional 6,952 shares during the period. Amalgamated Bank acquired a new stake in shares of Apyx Medical during the first quarter worth $33,000. Jump Financial LLC acquired a new stake in shares of Apyx Medical during the third quarter worth $47,000. Virtu Financial LLC acquired a new stake in shares of Apyx Medical during the third quarter worth $52,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Apyx Medical during the second quarter worth $70,000. 65.55% of the stock is owned by hedge funds and other institutional investors.
Apyx Medical Company Profile
Apyx Medical Corp. operates as an energy-based medical technology company. The firm engages in developing, manufacturing, and marketing a range of electrosurgical products and technologies, as well as related medical products used the offices of doctors, surgery centers, and hospitals worldwide. It operates through the following segments: Advanced Energy and Original Equipment Manufacture (OME).