Xtant Medical Holdings, Inc. (NYSEAMERICAN:XTNT) Sees Significant Drop in Short Interest

Xtant Medical Holdings, Inc. (NYSEAMERICAN:XTNT) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 268,742 shares, a decline of 85.3% from the August 31st total of 1,828,008 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average trading volume of 1,305,660 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Xtant Medical

A number of hedge funds have recently modified their holdings of XTNT. AWM Investment Company Inc. acquired a new position in Xtant Medical during the second quarter valued at approximately $2,516,000. Hillsdale Investment Management Inc. acquired a new stake in Xtant Medical in the fourth quarter worth $284,000. Renaissance Technologies LLC raised its holdings in Xtant Medical by 7.3% in the first quarter. Renaissance Technologies LLC now owns 987,410 shares of the medical device company’s stock worth $551,000 after purchasing an additional 67,550 shares during the period. Finally, Tradition Wealth Management LLC bought a new position in shares of Xtant Medical during the fourth quarter worth $79,000. 69.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Loop Capital set a $1.00 price objective on Xtant Medical in a report on Wednesday, September 2nd. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $1.00.

Xtant Medical Trading Down 0.3%

Shares of XTNT stock traded down $0.00 during trading hours on Friday, reaching $0.38. The company had a trading volume of 166,139 shares, compared to its average volume of 4,752,440. The company has a 50 day moving average of $0.37 and a 200 day moving average of $0.45. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.16 and a quick ratio of 1.05. The firm has a market cap of $52.71 million, a price-to-earnings ratio of -4.70 and a beta of -0.15. Xtant Medical has a 1-year low of $0.27 and a 1-year high of $0.95.

Xtant Medical (NYSEAMERICAN:XTNT) last announced its quarterly earnings data on Tuesday, August 11th. The medical device company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). Xtant Medical had a negative return on equity of 23.45% and a negative net margin of 10.17%.The company had revenue of $23.03 million for the quarter, compared to analyst estimates of $24.88 million.

Xtant Medical Company Profile

Xtant Medical Holdings, Inc is a medical technology company focused on developing, manufacturing and marketing surgical products for spinal and orthopedic procedures. The company’s portfolio includes biologic products designed to support bone growth and tissue repair, as well as spinal implants and related surgical instruments.

Its products are used by surgeons and hospitals in procedures involving spinal fusion, reconstruction and other orthopedic applications. Xtant’s biologics portfolio includes allograft and other regenerative solutions, while its hardware offerings include implants and instrumentation intended to support spinal stabilization and correction.

Xtant Medical is headquartered in Belgrade, Montana, and primarily serves the U.S.