Pro-Dex Inc (NASDAQ:PDEX) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 10,000 shares, a decline of 17.4% from the July 31st total of 12,100 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 16,500 shares, the short-interest ratio is presently 0.6 days.
Institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC acquired a new stake in shares of Pro-Dex during the first quarter worth $242,000. Wedge Capital Management L L P NC acquired a new stake in shares of Pro-Dex during the second quarter worth $267,000. Seizert Capital Partners LLC acquired a new stake in shares of Pro-Dex during the second quarter worth $318,000. Marshall Wace LLP acquired a new stake in shares of Pro-Dex during the second quarter worth $328,000. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Pro-Dex during the second quarter worth $389,000. 15.29% of the stock is currently owned by institutional investors.
Shares of Pro-Dex stock traded up $0.25 on Friday, reaching $15.40. 49,628 shares of the company were exchanged, compared to its average volume of 25,807. The stock has a fifty day moving average price of $14.06 and a 200-day moving average price of $14.00. The firm has a market capitalization of $62.39 million, a price-to-earnings ratio of 19.20 and a beta of 1.49. The company has a current ratio of 5.88, a quick ratio of 4.60 and a debt-to-equity ratio of 0.23. Pro-Dex has a fifty-two week low of $8.01 and a fifty-two week high of $17.95.
Separately, ValuEngine lowered Pro-Dex from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th.
Pro-Dex, Inc, together with its subsidiaries, designs, develops, and manufactures powered surgical instruments, dental instruments, and rotary air motors worldwide. It also manufactures plastic injection molds for various industries; and shavers and machined parts. In addition, it provides engineering, and quality and regulatory consulting services.
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