Treace Medical Concepts (NASDAQ:TMCI) Stock Crosses Above 50-Day Moving Average – Time to Sell?

Treace Medical Concepts, Inc. (NASDAQ:TMCI)’s share price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $4.41 and traded as high as $4.43. Treace Medical Concepts shares last traded at $4.42, with a volume of 157,213 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Weiss Ratings raised Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 31st. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $5.17.

Treace Medical Concepts Price Performance

The company has a quick ratio of 1.95, a current ratio of 2.90 and a debt-to-equity ratio of 0.83. The business’s 50-day simple moving average is $4.41 and its 200 day simple moving average is $3.21. The firm has a market capitalization of $287.48 million, a P/E ratio of -4.75 and a beta of 1.48.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.06. The firm had revenue of $45.38 million for the quarter, compared to the consensus estimate of $44.02 million. Treace Medical Concepts had a negative net margin of 28.99% and a negative return on equity of 71.37%. Sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.83 earnings per share for the current year.

Insider Activity at Treace Medical Concepts

In other Treace Medical Concepts news, CEO John Treace bought 39,944 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average price of $4.44 per share, for a total transaction of $177,351.36. Following the transaction, the chief executive officer directly owned 7,388,383 shares in the company, valued at $32,804,420.52. This trade represents a 0.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have acquired 55,944 shares of company stock worth $246,841. 23.42% of the stock is currently owned by company insiders.

Institutional Trading of Treace Medical Concepts

Several institutional investors have recently added to or reduced their stakes in TMCI. Hsbc Holdings PLC boosted its stake in shares of Treace Medical Concepts by 26.8% during the 1st quarter. Hsbc Holdings PLC now owns 30,994 shares of the company’s stock worth $40,000 after acquiring an additional 6,554 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Treace Medical Concepts by 34.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock worth $35,000 after purchasing an additional 6,606 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in shares of Treace Medical Concepts in the 2nd quarter worth $47,000. HBK Sorce Advisory LLC purchased a new stake in shares of Treace Medical Concepts in the 2nd quarter worth $77,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Treace Medical Concepts in the second quarter worth about $106,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

About Treace Medical Concepts

Treace Medical Concepts, Inc is a medical device company focused on developing and commercializing products for the surgical treatment of bunion deformities and other conditions affecting the foot and ankle. The company’s technologies are designed to address the underlying structural causes of bunions and support more stable correction than traditional surgical approaches.

Treace’s primary product is the Lapiplasty 3D Bunion Correction System, which is used by foot and ankle surgeons to correct bunions in three dimensions.