Outset Medical, Inc. (NASDAQ:OM) Short Interest Update

Outset Medical, Inc. (NASDAQ:OM) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 9,080,000 shares, a growth of 40.6% from the January 15th total of 6,460,000 shares. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is presently 8.3 days.

Outset Medical Stock Performance

OM traded up $0.08 during midday trading on Friday, reaching $0.90. The company’s stock had a trading volume of 2,687,766 shares, compared to its average volume of 951,179. The company has a current ratio of 6.49, a quick ratio of 5.04 and a debt-to-equity ratio of 4.12. The company has a fifty day simple moving average of $0.98 and a 200 day simple moving average of $0.88. The stock has a market cap of $48.27 million, a P/E ratio of -0.33 and a beta of 2.01. Outset Medical has a twelve month low of $0.44 and a twelve month high of $5.22.

Insider Buying and Selling at Outset Medical

In other news, CFO Nabeel Ahmed sold 34,288 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $0.80, for a total transaction of $27,430.40. Following the completion of the sale, the chief financial officer now owns 258,869 shares in the company, valued at approximately $207,095.20. This represents a 11.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Leslie Trigg sold 65,236 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $0.80, for a total value of $52,188.80. Following the completion of the transaction, the chief executive officer now directly owns 895,580 shares in the company, valued at $716,464. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,790 shares of company stock worth $222,243 over the last ninety days. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Outset Medical

Several hedge funds and other institutional investors have recently modified their holdings of the stock. National Bank of Canada FI raised its stake in Outset Medical by 79.2% during the 3rd quarter. National Bank of Canada FI now owns 52,407 shares of the company’s stock valued at $35,000 after purchasing an additional 23,164 shares during the last quarter. Huntington National Bank raised its position in shares of Outset Medical by 46.2% during the third quarter. Huntington National Bank now owns 63,306 shares of the company’s stock valued at $43,000 after buying an additional 20,000 shares during the last quarter. Two Sigma Securities LLC lifted its stake in shares of Outset Medical by 190.0% in the fourth quarter. Two Sigma Securities LLC now owns 42,477 shares of the company’s stock valued at $47,000 after buying an additional 27,830 shares during the period. XTX Topco Ltd acquired a new stake in Outset Medical during the fourth quarter worth about $50,000. Finally, Birchview Capital LP increased its stake in Outset Medical by 3,587.7% during the fourth quarter. Birchview Capital LP now owns 368,766 shares of the company’s stock valued at $409,000 after acquiring an additional 358,766 shares during the period.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price objective on shares of Outset Medical in a report on Tuesday, January 7th.

Outset Medical Company Profile

Outset Medical, Inc, a medical technology company, engages in the development of a hemodialysis system for hemodialysis in the United States. The company offers Tablo Hemodialysis System, a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings; and manufactures, supports, and distributes for Tablo console, Tablo cartridge, and other consumables.