AtriCure Inc. (NASDAQ:ATRC) saw a large increase in short interest in January. As of January 31st, there was short interest totalling 873,400 shares, an increase of 11.7% from the January 15th total of 781,900 shares. Based on an average daily trading volume, of 234,200 shares, the days-to-cover ratio is currently 3.7 days. Currently, 2.3% of the shares of the stock are sold short.
Several equities research analysts have recently weighed in on the stock. BTIG Research assumed coverage on shares of AtriCure in a report on Thursday, February 6th. They issued a “buy” rating and a $42.00 target price on the stock. Piper Sandler reaffirmed a “buy” rating and issued a $40.00 target price on shares of AtriCure in a report on Monday, January 27th. ValuEngine lowered shares of AtriCure from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. BidaskClub raised shares of AtriCure from a “buy” rating to a “strong-buy” rating in a report on Friday, January 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 target price (up previously from $39.00) on shares of AtriCure in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $38.86.
Shares of ATRC traded up $0.80 during trading hours on Friday, hitting $43.84. The stock had a trading volume of 341,068 shares, compared to its average volume of 364,883. The company’s fifty day moving average is $36.60 and its two-hundred day moving average is $30.10. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.11 and a quick ratio of 2.49. AtriCure has a 52 week low of $22.57 and a 52 week high of $44.32. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -73.07 and a beta of 0.29.
In other news, CEO Michael H. Carrel sold 25,000 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $34.00, for a total value of $850,000.00. Following the completion of the transaction, the chief executive officer now owns 651,490 shares in the company, valued at approximately $22,150,660. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael H. Carrel sold 23,546 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $33.00, for a total transaction of $777,018.00. Following the completion of the transaction, the chief executive officer now owns 650,036 shares of the company’s stock, valued at approximately $21,451,188. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,219 shares of company stock valued at $9,054,763. Corporate insiders own 8.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of AtriCure in the 3rd quarter worth about $2,682,000. Russell Investments Group Ltd. bought a new stake in AtriCure during the 3rd quarter worth about $74,000. SG Americas Securities LLC grew its holdings in AtriCure by 1,216.1% during the 3rd quarter. SG Americas Securities LLC now owns 99,209 shares of the medical device company’s stock worth $2,474,000 after acquiring an additional 91,671 shares during the last quarter. Rice Hall James & Associates LLC bought a new stake in AtriCure during the 3rd quarter worth about $1,118,000. Finally, Morgan Stanley grew its holdings in AtriCure by 574.4% during the 2nd quarter. Morgan Stanley now owns 130,647 shares of the medical device company’s stock worth $3,898,000 after acquiring an additional 111,276 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.
AtriCure, Inc develops, manufactures, and sells devices for the surgical ablation of cardiac tissue and systems to medical centers in the United States and internationally. The company offers Isolator Synergy and Isolator Synergy Access clamps for the treatment of persistent and long-standing persistent atrial fibrillation concomitant to other open-heart surgical procedures; EPi-Sense guided coagulation system used for the coagulation of tissue; and COBRA Fusion surgical ablation system to combine bipolar temperature-controlled radio frequency energy control with monopolar energy.
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