SS Innovations International (NASDAQ:SSII) Shares Gap Down – What’s Next?

SS Innovations International, Inc. (NASDAQ:SSII)’s share price gapped down before the market opened on Friday. The stock had previously closed at $3.11, but opened at $2.99. SS Innovations International shares last traded at $3.0360, with a volume of 6,051 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of SS Innovations International in a research note on Friday, July 17th. Loop Capital set a $7.00 price objective on shares of SS Innovations International in a research report on Wednesday, June 3rd. Finally, Wall Street Zen upgraded shares of SS Innovations International from a “sell” rating to a “hold” rating in a research note on Sunday, June 28th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell” and a consensus price target of $7.00.

SS Innovations International Price Performance

The firm has a market capitalization of $591.32 million, a P/E ratio of -49.18 and a beta of -1.94. The business has a 50 day moving average price of $3.55 and a 200 day moving average price of $3.95.

SS Innovations International (NASDAQ:SSII) last announced its earnings results on Thursday, August 13th. The company reported ($0.01) earnings per share for the quarter. The business had revenue of $13.94 million for the quarter. SS Innovations International had a negative net margin of 23.73% and a negative return on equity of 26.77%.

Insider Transactions at SS Innovations International

In related news, CEO Srivastava Sudhir sold 33,333 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $3.00, for a total transaction of $99,999.00. Following the transaction, the chief executive officer owned 108,520,928 shares of the company’s stock, valued at approximately $325,562,784. The trade was a 0.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Trading of SS Innovations International

Hedge funds have recently bought and sold shares of the stock. IFC & Insurance Marketing Inc. grew its position in SS Innovations International by 47.7% in the 1st quarter. IFC & Insurance Marketing Inc. now owns 16,730 shares of the company’s stock worth $84,000 after purchasing an additional 5,400 shares during the last quarter. Eversept Partners LP acquired a new position in shares of SS Innovations International during the fourth quarter valued at about $428,000. Inspire Investing LLC raised its position in shares of SS Innovations International by 26.4% during the first quarter. Inspire Investing LLC now owns 104,624 shares of the company’s stock valued at $523,000 after buying an additional 21,851 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of SS Innovations International by 9.3% in the fourth quarter. Handelsbanken Fonder AB now owns 120,000 shares of the company’s stock valued at $682,000 after buying an additional 10,198 shares during the period.

SS Innovations International Company Profile

SS Innovations International, Inc is a medical technology company focused on developing, manufacturing and commercializing robotic-assisted surgical systems. Through its operating business in India, the company offers the SSi Mantra robotic surgery platform, which is designed to support minimally invasive procedures across multiple surgical specialties.

The company’s product portfolio includes the SSi Mantra system, robotic instruments and related accessories, as well as surgical training, installation, maintenance and support services.