AtriCure, Inc. (NASDAQ:ATRC) Short Interest Down 20.4% in January

AtriCure, Inc. (NASDAQ:ATRC) was the target of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,170,000 shares, a drop of 20.4% from the January 15th total of 1,470,000 shares. Based on an average daily volume of 480,400 shares, the days-to-cover ratio is presently 2.4 days.

AtriCure Stock Up 3.4 %

Shares of NASDAQ:ATRC traded up $1.35 on Friday, reaching $40.94. The company had a trading volume of 577,628 shares, compared to its average volume of 590,066. The firm has a market capitalization of $2.00 billion, a PE ratio of -49.33 and a beta of 1.46. The company has a current ratio of 3.62, a quick ratio of 2.59 and a debt-to-equity ratio of 0.13. AtriCure has a 52-week low of $18.94 and a 52-week high of $43.11. The firm’s 50 day simple moving average is $35.76 and its 200-day simple moving average is $31.43.

Hedge Funds Weigh In On AtriCure

Large investors have recently added to or reduced their stakes in the company. PDT Partners LLC grew its position in shares of AtriCure by 65.9% in the 4th quarter. PDT Partners LLC now owns 39,327 shares of the medical device company’s stock worth $1,202,000 after buying an additional 15,626 shares during the last quarter. First Light Asset Management LLC boosted its stake in AtriCure by 5.6% in the fourth quarter. First Light Asset Management LLC now owns 1,969,221 shares of the medical device company’s stock valued at $60,179,000 after acquiring an additional 103,685 shares in the last quarter. Northern Trust Corp grew its holdings in AtriCure by 11.6% in the fourth quarter. Northern Trust Corp now owns 483,607 shares of the medical device company’s stock worth $14,779,000 after purchasing an additional 50,153 shares during the last quarter. Johnson Financial Group Inc. increased its position in shares of AtriCure by 1,184.1% during the fourth quarter. Johnson Financial Group Inc. now owns 1,618 shares of the medical device company’s stock worth $49,000 after purchasing an additional 1,492 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in shares of AtriCure during the 4th quarter valued at $231,000. 99.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ATRC shares. Stifel Nicolaus raised their price target on shares of AtriCure from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $60.00 target price on shares of AtriCure in a research report on Monday, February 10th. Piper Sandler boosted their price target on AtriCure from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. raised their price objective on AtriCure from $40.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $51.00 target price on shares of AtriCure in a report on Thursday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.56.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.