Paragon 28, Inc. (NYSE:FNA) Sees Large Drop in Short Interest

Paragon 28, Inc. (NYSE:FNA) saw a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 1,440,000 shares, a decline of 20.0% from the February 13th total of 1,800,000 shares. Currently, 3.0% of the company’s stock are sold short. Based on an average daily trading volume, of 1,450,000 shares, the short-interest ratio is currently 1.0 days.

Analyst Ratings Changes

FNA has been the topic of several analyst reports. Canaccord Genuity Group set a $13.00 price target on shares of Paragon 28 in a report on Wednesday, January 29th. William Blair cut shares of Paragon 28 from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Stephens reaffirmed an “equal weight” rating and issued a $13.00 target price (down from $14.00) on shares of Paragon 28 in a report on Thursday, January 30th. Finally, Needham & Company LLC reiterated a “hold” rating and set a $13.00 price target on shares of Paragon 28 in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $14.20.

Paragon 28 Stock Performance

Shares of Paragon 28 stock traded up $0.04 on Tuesday, reaching $13.05. 1,247,922 shares of the company traded hands, compared to its average volume of 868,970. The company has a 50 day moving average of $12.36 and a 200 day moving average of $9.55. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60. Paragon 28 has a 52 week low of $4.65 and a 52 week high of $13.13. The firm has a market capitalization of $1.09 billion, a PE ratio of -17.63 and a beta of 1.54.

Paragon 28 (NYSE:FNA) last released its earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $71.75 million during the quarter, compared to analysts’ expectations of $70.81 million. Paragon 28 had a negative return on equity of 37.90% and a negative net margin of 25.31%. Equities analysts forecast that Paragon 28 will post -0.64 earnings per share for the current year.

Insider Activity at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 27,142 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $11.62, for a total transaction of $315,390.04. Following the transaction, the insider now directly owns 10,313,841 shares in the company, valued at approximately $119,846,832.42. This trade represents a 0.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,875,984 shares of company stock valued at $24,359,971 over the last 90 days. Insiders own 15.32% of the company’s stock.

Institutional Investors Weigh In On Paragon 28

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new position in Paragon 28 during the fourth quarter worth about $36,000. AlphaQuest LLC boosted its holdings in Paragon 28 by 33.6% in the 4th quarter. AlphaQuest LLC now owns 3,680 shares of the company’s stock worth $38,000 after buying an additional 925 shares during the period. State of Wyoming grew its stake in Paragon 28 by 37.4% in the 4th quarter. State of Wyoming now owns 4,359 shares of the company’s stock valued at $45,000 after buying an additional 1,187 shares in the last quarter. Intech Investment Management LLC bought a new stake in Paragon 28 during the 3rd quarter valued at $70,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Paragon 28 during the fourth quarter worth $94,000. 63.57% of the stock is currently owned by institutional investors.

About Paragon 28

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.