Carlsmed, Inc. (NASDAQ:CARL) Sees Large Growth in Short Interest

Carlsmed, Inc. (NASDAQ:CARL) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 776,702 shares, an increase of 23.4% from the March 15th total of 629,169 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average daily trading volume, of 107,201 shares, the days-to-cover ratio is presently 7.2 days.

Hedge Funds Weigh In On Carlsmed

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new stake in shares of Carlsmed during the 3rd quarter worth approximately $33,000. JPMorgan Chase & Co. acquired a new stake in shares of Carlsmed in the 3rd quarter valued at $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Carlsmed in the 3rd quarter valued at $42,000. Rhumbline Advisers bought a new stake in shares of Carlsmed during the 3rd quarter worth $79,000. Finally, Wells Fargo & Company MN lifted its position in shares of Carlsmed by 61.7% during the 4th quarter. Wells Fargo & Company MN now owns 7,834 shares of the company’s stock worth $97,000 after buying an additional 2,989 shares during the last quarter.

Carlsmed Stock Performance

Shares of CARL traded down $0.02 during mid-day trading on Friday, hitting $10.93. 2,968 shares of the company’s stock were exchanged, compared to its average volume of 123,379. The company has a quick ratio of 8.74, a current ratio of 8.87 and a debt-to-equity ratio of 0.16. Carlsmed has a 52 week low of $8.50 and a 52 week high of $17.19. The stock’s 50-day simple moving average is $11.21 and its 200-day simple moving average is $12.51. The firm has a market cap of $292.21 million and a price-to-earnings ratio of -2.98.

Carlsmed (NASDAQ:CARL) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.11. The business had revenue of $15.16 million for the quarter, compared to the consensus estimate of $15.20 million. Carlsmed had a negative return on equity of 72.60% and a negative net margin of 58.67%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. The Goldman Sachs Group decreased their price target on shares of Carlsmed from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Zacks Research upgraded Carlsmed from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Weiss Ratings reiterated a “sell (e-)” rating on shares of Carlsmed in a research note on Monday, December 22nd. Wall Street Zen raised Carlsmed from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Truist Financial decreased their price objective on Carlsmed from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.67.

Carlsmed Company Profile

We are a commercial-stage medical technology company pioneering AI-enabled personalized spine surgery solutions with a mission to improve outcomes and decrease the cost of healthcare for spine surgery and beyond. We are focused on becoming the standard of care for spine fusion surgery. The aprevo Technology Platform consists of artificial intelligence (“AI”)-enabled software solutions, and interbody implants that we custom design for each patient’s unique pathology and vertebral bone topography, and single-use surgical instruments (the “aprevo Technology Platform”).