Modular Medical, Inc. (NASDAQ:MODD) Sees Significant Decline in Short Interest

Modular Medical, Inc. (NASDAQ:MODD) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 362,500 shares, a decline of 13.5% from the November 30th total of 419,200 shares. Based on an average daily volume of 168,600 shares, the days-to-cover ratio is currently 2.2 days. Approximately 1.0% of the company’s shares are short sold.

Modular Medical Stock Down 0.0 %

NASDAQ MODD traded down $0.00 on Tuesday, reaching $1.39. The stock had a trading volume of 18,427 shares, compared to its average volume of 229,775. Modular Medical has a 12-month low of $1.08 and a 12-month high of $2.65. The stock has a fifty day moving average price of $1.85 and a two-hundred day moving average price of $1.84. The firm has a market capitalization of $48.22 million, a price-to-earnings ratio of -2.21 and a beta of 0.46.

Insider Buying and Selling at Modular Medical

In related news, Director Manchester Management Co Llc acquired 21,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $1.68 per share, with a total value of $35,280.00. Following the transaction, the director now owns 265,750 shares of the company’s stock, valued at approximately $446,460. This trade represents a 8.58 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have acquired 287,666 shares of company stock worth $454,279 over the last quarter. 32.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Modular Medical

Institutional investors and hedge funds have recently modified their holdings of the company. Bard Associates Inc. grew its position in Modular Medical by 81.4% in the 3rd quarter. Bard Associates Inc. now owns 1,462,930 shares of the company’s stock valued at $3,292,000 after acquiring an additional 656,330 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Modular Medical by 45.0% in the third quarter. Geode Capital Management LLC now owns 306,440 shares of the company’s stock valued at $690,000 after purchasing an additional 95,072 shares in the last quarter. Corsair Capital Management L.P. increased its stake in Modular Medical by 13.6% during the 3rd quarter. Corsair Capital Management L.P. now owns 537,363 shares of the company’s stock worth $1,209,000 after buying an additional 64,393 shares during the period. Walleye Capital LLC lifted its holdings in Modular Medical by 299.8% during the 3rd quarter. Walleye Capital LLC now owns 75,418 shares of the company’s stock worth $170,000 after buying an additional 56,552 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Modular Medical by 285.8% in the third quarter. State Street Corp now owns 76,000 shares of the company’s stock worth $171,000 after acquiring an additional 56,300 shares in the last quarter. Hedge funds and other institutional investors own 27.47% of the company’s stock.

About Modular Medical

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.