CVRx, Inc. (NASDAQ:CVRX – Get Free Report) was the target of a large decrease in short interest in August. As of August 15th, there was short interest totalling 855,700 shares, a decrease of 7.3% from the July 31st total of 922,700 shares. Based on an average trading volume of 161,000 shares, the short-interest ratio is presently 5.3 days. Approximately 9.3% of the company’s shares are short sold.
Institutional Investors Weigh In On CVRx
A number of hedge funds and other institutional investors have recently bought and sold shares of CVRX. BlackRock Inc. lifted its position in CVRx by 1,056.2% during the second quarter. BlackRock Inc. now owns 704,342 shares of the company’s stock valued at $10,875,000 after acquiring an additional 643,425 shares during the last quarter. State Street Corp lifted its position in CVRx by 1,118.2% during the second quarter. State Street Corp now owns 510,145 shares of the company’s stock valued at $7,877,000 after acquiring an additional 468,269 shares during the last quarter. Emerald Advisers LLC lifted its position in CVRx by 143.3% during the first quarter. Emerald Advisers LLC now owns 426,854 shares of the company’s stock valued at $3,978,000 after acquiring an additional 251,433 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in shares of CVRx by 199.1% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 355,241 shares of the company’s stock worth $3,311,000 after buying an additional 236,471 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of CVRx in the second quarter worth $3,624,000. Hedge funds and other institutional investors own 56.50% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Piper Sandler upped their target price on shares of CVRx from $20.00 to $21.00 in a research note on Wednesday, July 26th. Lake Street Capital increased their price objective on shares of CVRx from $18.00 to $21.00 in a research note on Wednesday, July 26th.
CVRx Stock Down 0.3 %
Shares of NASDAQ CVRX traded down $0.05 during midday trading on Friday, reaching $17.30. 33,211 shares of the company’s stock traded hands, compared to its average volume of 217,895. The company has a quick ratio of 11.33, a current ratio of 12.55 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $16.59 and its 200-day simple moving average is $13.33. CVRx has a one year low of $6.57 and a one year high of $19.94. The company has a market cap of $359.84 million, a price-to-earnings ratio of -8.26 and a beta of 0.74.
CVRx (NASDAQ:CVRX – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.01. CVRx had a negative net margin of 140.69% and a negative return on equity of 41.62%. The firm had revenue of $9.50 million for the quarter, compared to the consensus estimate of $8.56 million. On average, analysts predict that CVRx will post -2.24 EPS for the current fiscal year.
About CVRx
CVRx, Inc, a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. It offers Barostim, a neuromodulation device indicated to improve symptoms for patients with heart failure (HF) with reduced ejection fraction or systolic HF.