Modular Medical Stock Set to Reverse Split on Tuesday, March 31st (NASDAQ:MODD)

Shares of Modular Medical, Inc. (NASDAQ:MODD) are going to reverse split on the morning of Tuesday, March 31st. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, March 30th.

Modular Medical Price Performance

Shares of Modular Medical stock traded down $0.02 during trading on Friday, hitting $0.16. The stock had a trading volume of 2,669,315 shares, compared to its average volume of 2,068,341. Modular Medical has a 12 month low of $0.12 and a 12 month high of $1.16. The firm’s fifty day simple moving average is $0.35 and its 200-day simple moving average is $0.46.

Modular Medical (NASDAQ:MODD) last issued its quarterly earnings results on Tuesday, February 17th. The company reported ($0.11) EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Modular Medical in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Trading of Modular Medical

Institutional investors and hedge funds have recently made changes to their positions in the business. 683 Capital Management LLC boosted its stake in shares of Modular Medical by 79.4% during the fourth quarter. 683 Capital Management LLC now owns 1,762,103 shares of the company’s stock valued at $642,000 after purchasing an additional 780,000 shares during the period. Bleichroeder LP increased its stake in Modular Medical by 41.9% in the 4th quarter. Bleichroeder LP now owns 2,859,581 shares of the company’s stock worth $1,041,000 after buying an additional 845,000 shares during the period. Jane Street Group LLC increased its stake in Modular Medical by 446.8% in the 4th quarter. Jane Street Group LLC now owns 163,952 shares of the company’s stock worth $60,000 after buying an additional 133,969 shares during the period. Perritt Capital Management Inc lifted its holdings in Modular Medical by 34.2% during the 3rd quarter. Perritt Capital Management Inc now owns 85,000 shares of the company’s stock valued at $59,000 after buying an additional 21,675 shares in the last quarter. Finally, Warberg Asset Management LLC bought a new stake in Modular Medical during the 3rd quarter valued at about $31,000. 27.47% of the stock is currently owned by institutional investors.

Modular Medical Company Profile

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.