ENDRA Life Sciences Inc. (NASDAQ:NDRA) Sees Significant Drop in Short Interest

ENDRA Life Sciences Inc. (NASDAQ:NDRA) was the recipient of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 19,820 shares, a decrease of 39.2% from the May 14th total of 32,603 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average trading volume of 18,084 shares, the short-interest ratio is presently 1.1 days.

Hedge Funds Weigh In On ENDRA Life Sciences

A hedge fund recently bought a new stake in ENDRA Life Sciences stock. Altium Capital Management LLC bought a new position in shares of ENDRA Life Sciences Inc. (NASDAQ:NDRA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 51,900 shares of the company’s stock, valued at approximately $235,000. ENDRA Life Sciences makes up 0.9% of Altium Capital Management LLC’s holdings, making the stock its 17th largest position. Altium Capital Management LLC owned about 6.92% of ENDRA Life Sciences at the end of the most recent reporting period. 1.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Ascendiant Capital Markets reduced their price objective on ENDRA Life Sciences from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ENDRA Life Sciences in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ENDRA Life Sciences has a consensus rating of “Hold” and a consensus price target of $25.00.

ENDRA Life Sciences Price Performance

Shares of NDRA stock traded up $0.29 during trading hours on Monday, reaching $4.85. 28,467 shares of the company’s stock were exchanged, compared to its average volume of 69,106. The company has a market cap of $6.16 million, a P/E ratio of -0.60 and a beta of -0.04. The company’s 50 day moving average is $5.11 and its two-hundred day moving average is $4.66. ENDRA Life Sciences has a 1 year low of $2.96 and a 1 year high of $11.96.

ENDRA Life Sciences (NASDAQ:NDRA) last issued its earnings results on Friday, May 15th. The company reported ($1.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.23) by $0.14. As a group, analysts predict that ENDRA Life Sciences will post -4.11 EPS for the current fiscal year.

About ENDRA Life Sciences

ENDRA Life Sciences, Inc (NASDAQ: NDRA) is a medical technology company headquartered in Ann Arbor, Michigan, that focuses on the development and commercialization of Thermoacoustic Enhanced Ultrasound (TAEUS™) imaging. The company’s proprietary TAEUS platform combines conventional ultrasound with thermoacoustic signals to provide non-invasive, real-time temperature monitoring of soft tissue. This technology is designed to improve the safety, efficacy and outcomes of thermal ablation procedures and other heat-based therapies.

ENDRA’s core product line centers on a compact, easy-to-integrate device that augments existing ultrasound systems.