Short Interest in Strata Critical Medical (NASDAQ:SRTA) Drops By 47.9%

Strata Critical Medical (NASDAQ:SRTA) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totaling 4,075,056 shares, a drop of 47.9% from the June 15th total of 7,824,961 shares. Currently, 5.6% of the shares of the stock are sold short. Based on an average daily volume of 1,622,698 shares, the short-interest ratio is presently 2.5 days.

Strata Critical Medical Trading Down 1.0%

NASDAQ:SRTA opened at $5.18 on Friday. Strata Critical Medical has a fifty-two week low of $3.67 and a fifty-two week high of $6.50. The firm’s fifty day moving average is $5.62. The company has a market cap of $448.23 million, a P/E ratio of -64.58 and a beta of 2.22.

Strata Critical Medical (NASDAQ:SRTA) last issued its earnings results on Wednesday, May 6th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.07. The firm had revenue of $67.38 million for the quarter. Strata Critical Medical had a negative return on equity of 4.06% and a net margin of 20.56%. On average, analysts expect that Strata Critical Medical will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William A. Heyburn sold 31,671 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $5.87, for a total transaction of $185,908.77. Following the completion of the sale, the chief executive officer owned 1,548,997 shares in the company, valued at $9,092,612.39. The trade was a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Melissa M. Tomkiel sold 29,730 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $5.87, for a total value of $174,515.10. Following the completion of the sale, the chief executive officer directly owned 1,892,774 shares of the company’s stock, valued at approximately $11,110,583.38. This trade represents a 1.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 116,931 shares of company stock worth $687,184 in the last quarter. Insiders own 15.50% of the company’s stock.

Institutional Trading of Strata Critical Medical

Several institutional investors have recently added to or reduced their stakes in SRTA. Allied Private Wealth LLC bought a new position in Strata Critical Medical during the second quarter worth $31,000. Granite Investment Partners LLC lifted its stake in shares of Strata Critical Medical by 77.0% in the first quarter. Granite Investment Partners LLC now owns 18,181 shares of the company’s stock valued at $76,000 after buying an additional 7,911 shares in the last quarter. Seelaus Asset Management LLC lifted its position in Strata Critical Medical by 32.7% in the 1st quarter. Seelaus Asset Management LLC now owns 24,350 shares of the company’s stock valued at $102,000 after acquiring an additional 6,000 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Strata Critical Medical during the first quarter valued at approximately $537,000. Finally, Quantinno Capital Management LP lifted its position in shares of Strata Critical Medical by 98.7% during the first quarter. Quantinno Capital Management LP now owns 143,239 shares of the company’s stock valued at $599,000 after purchasing an additional 71,155 shares in the last quarter. 47.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Craig Hallum initiated coverage on shares of Strata Critical Medical in a report on Wednesday, March 25th. They set a “buy” rating and a $8.00 target price for the company. Zacks Research raised shares of Strata Critical Medical to a “hold” rating in a research report on Thursday, March 26th. B. Riley Financial assumed coverage on shares of Strata Critical Medical in a research note on Wednesday, March 25th. They set a “buy” rating and a $8.00 price objective for the company. Finally, Weiss Ratings upgraded Strata Critical Medical from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Strata Critical Medical Company Profile

Blade Air Mobility, Inc provides air transportation alternatives to the congested ground routes in the United States. It provides its services through charter and by-the-seat flights using helicopters, jets, turboprops, and amphibious seaplanes. The company was founded in 2014 and is headquartered in New York, New York.