ClearPoint Neuro, Inc. (NASDAQ:CLPT) Short Interest Update

ClearPoint Neuro, Inc. (NASDAQ:CLPT) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,280,000 shares, a drop of 8.6% from the March 15th total of 1,400,000 shares. Based on an average daily volume of 152,300 shares, the days-to-cover ratio is currently 8.4 days.

ClearPoint Neuro Trading Down 3.4 %

CLPT traded down $0.20 during trading on Monday, hitting $5.61. 304,735 shares of the stock were exchanged, compared to its average volume of 150,603. ClearPoint Neuro has a 1 year low of $4.05 and a 1 year high of $10.80. The firm has a 50 day simple moving average of $6.79 and a 200 day simple moving average of $6.32. The firm has a market cap of $151.86 million, a price-to-earnings ratio of -6.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.80 and a current ratio of 4.87.

ClearPoint Neuro (NASDAQ:CLPT) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.03. ClearPoint Neuro had a negative return on equity of 83.94% and a negative net margin of 92.21%. The business had revenue of $6.81 million for the quarter, compared to the consensus estimate of $6.40 million. As a group, equities analysts expect that ClearPoint Neuro will post -0.75 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Group Holdings Inc. increased its holdings in shares of ClearPoint Neuro by 131.5% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,153 shares of the company’s stock valued at $66,000 after acquiring an additional 1,223 shares during the period. State of Wyoming purchased a new position in shares of ClearPoint Neuro in the 4th quarter valued at $25,000. Cubist Systematic Strategies LLC acquired a new stake in shares of ClearPoint Neuro in the 1st quarter worth $38,000. Royal Bank of Canada boosted its position in shares of ClearPoint Neuro by 3,038.5% in the 2nd quarter. Royal Bank of Canada now owns 5,461 shares of the company’s stock worth $40,000 after purchasing an additional 5,287 shares in the last quarter. Finally, California State Teachers Retirement System acquired a new stake in shares of ClearPoint Neuro in the 2nd quarter worth $55,000. 30.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus restated a “buy” rating and set a $9.00 price objective (up from $8.00) on shares of ClearPoint Neuro in a report on Wednesday, March 13th.

About ClearPoint Neuro

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.