Endologix, Inc. (NASDAQ:ELGX) Short Interest Update

Endologix, Inc. (NASDAQ:ELGX) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,560,000 shares, a growth of 10.6% from the September 30th total of 1,410,000 shares. Based on an average daily trading volume, of 211,900 shares, the short-interest ratio is presently 7.4 days. Approximately 10.2% of the shares of the company are short sold.

NASDAQ:ELGX traded up $0.02 on Friday, reaching $2.88. 68,700 shares of the company’s stock were exchanged, compared to its average volume of 200,229. The firm has a market cap of $51.31 million, a price-to-earnings ratio of -0.40 and a beta of 0.26. Endologix has a 52 week low of $2.28 and a 52 week high of $10.40. The stock has a fifty day simple moving average of $3.32 and a 200-day simple moving average of $5.62. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.22 and a quick ratio of 1.55.

Endologix (NASDAQ:ELGX) last posted its quarterly earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.08. The firm had revenue of $35.78 million for the quarter, compared to the consensus estimate of $35.26 million. Endologix had a negative net margin of 58.24% and a negative return on equity of 99.62%. As a group, sell-side analysts predict that Endologix will post -2.69 EPS for the current year.

A number of research firms recently issued reports on ELGX. ValuEngine downgraded shares of Endologix from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Royal Bank of Canada set a $7.00 price objective on shares of Endologix and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Zacks Investment Research downgraded shares of Endologix from a “hold” rating to a “sell” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $7.17.

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in shares of Endologix by 859.5% during the second quarter. JPMorgan Chase & Co. now owns 114,768 shares of the medical instruments supplier’s stock worth $838,000 after acquiring an additional 102,807 shares in the last quarter. M&T Bank Corp purchased a new position in shares of Endologix in the second quarter worth $102,000. Renaissance Technologies LLC increased its stake in shares of Endologix by 868.3% in the second quarter. Renaissance Technologies LLC now owns 613,906 shares of the medical instruments supplier’s stock worth $4,445,000 after buying an additional 550,506 shares during the period. Morgan Stanley increased its stake in shares of Endologix by 1,395.2% in the second quarter. Morgan Stanley now owns 722,419 shares of the medical instruments supplier’s stock worth $5,230,000 after buying an additional 674,103 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Endologix by 32.6% in the second quarter. Vanguard Group Inc. now owns 692,351 shares of the medical instruments supplier’s stock worth $5,012,000 after buying an additional 170,316 shares during the period. 78.02% of the stock is currently owned by hedge funds and other institutional investors.

About Endologix

Endologix, Inc develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. The company offers minimally-invasive endovascular aneurysm repair (EVAR), including AFX (Anatomical Fixation) endovascular AAA system, which is a minimally invasive delivery system; VELA Proximal Endograft, which is designed for the treatment of proximal aortic neck anatomies with AFX; and the Ovation abdominal stent graft system.

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