Endologix, Inc. (NASDAQ:ELGX) saw a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 12,716,628 shares, a decrease of 13.1% from the October 13th total of 14,633,812 shares. Currently, 16.8% of the company’s shares are sold short. Based on an average daily trading volume, of 422,136 shares, the days-to-cover ratio is presently 30.1 days.
Shares of Endologix (ELGX) opened at $5.28 on Friday. The company has a current ratio of 2.90, a quick ratio of 2.11 and a debt-to-equity ratio of 2.61. Endologix has a one year low of $4.08 and a one year high of $7.91.
A number of research analysts have commented on ELGX shares. ValuEngine cut shares of Endologix from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research raised shares of Endologix from a “hold” rating to a “strong-buy” rating and set a $5.75 target price on the stock in a research report on Monday, July 24th. Stifel Nicolaus set a $6.00 target price on shares of Endologix and gave the company a “hold” rating in a research report on Friday, October 6th. Royal Bank Of Canada reissued a “hold” rating and set a $5.00 price target on shares of Endologix in a research report on Tuesday, October 3rd. Finally, Canaccord Genuity reissued a “hold” rating and set a $5.00 price target on shares of Endologix in a research report on Monday, October 9th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $6.13.
Hedge funds have recently added to or reduced their stakes in the stock. Kopp Investment Advisors LLC increased its stake in shares of Endologix by 11.5% during the second quarter. Kopp Investment Advisors LLC now owns 21,950 shares of the medical instruments supplier’s stock worth $107,000 after buying an additional 2,270 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Endologix during the second quarter worth approximately $111,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Endologix during the second quarter worth approximately $142,000. UBS Asset Management Americas Inc. increased its stake in shares of Endologix by 128.1% during the second quarter. UBS Asset Management Americas Inc. now owns 34,898 shares of the medical instruments supplier’s stock worth $170,000 after buying an additional 19,600 shares during the period. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of Endologix during the third quarter worth approximately $163,000.
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Endologix, Inc is engaged in developing, manufacturing, marketing and selling medical devices for the treatment of aortic disorders. The Company’s products are intended for the treatment of abdominal aortic aneurysms (AAA). The AAA products are built on one of two platforms, including traditional minimally invasive endovascular repair (EVAR) or endovascular sealing (EVAS), its solution for sealing the aneurysm sac while maintaining blood flow through two blood flow lumens.
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