Short Interest in ClearPoint Neuro, Inc. (NASDAQ:CLPT) Decreases By 8.6%

ClearPoint Neuro, Inc. (NASDAQ:CLPT) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 1,280,000 shares, a decline of 8.6% from the March 15th total of 1,400,000 shares. Based on an average daily volume of 152,300 shares, the days-to-cover ratio is currently 8.4 days.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus reiterated a “buy” rating and set a $9.00 price objective (up from $8.00) on shares of ClearPoint Neuro in a report on Wednesday, March 13th.

Hedge Funds Weigh In On ClearPoint Neuro

Institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming bought a new stake in ClearPoint Neuro in the fourth quarter worth about $25,000. Cubist Systematic Strategies LLC purchased a new stake in shares of ClearPoint Neuro during the 1st quarter worth approximately $38,000. Royal Bank of Canada raised its holdings in shares of ClearPoint Neuro by 3,038.5% in the 2nd quarter. Royal Bank of Canada now owns 5,461 shares of the company’s stock worth $40,000 after purchasing an additional 5,287 shares during the period. California State Teachers Retirement System bought a new position in ClearPoint Neuro during the second quarter valued at $55,000. Finally, Advisor Group Holdings Inc. grew its holdings in ClearPoint Neuro by 131.5% during the first quarter. Advisor Group Holdings Inc. now owns 2,153 shares of the company’s stock valued at $66,000 after purchasing an additional 1,223 shares during the period. Institutional investors own 30.08% of the company’s stock.

ClearPoint Neuro Trading Down 0.5 %

NASDAQ CLPT opened at $5.58 on Wednesday. The company has a current ratio of 4.87, a quick ratio of 3.80 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $6.76 and a 200 day simple moving average of $6.32. ClearPoint Neuro has a 12 month low of $4.05 and a 12 month high of $10.80. The firm has a market capitalization of $151.05 million, a P/E ratio of -6.13 and a beta of 0.89.

ClearPoint Neuro (NASDAQ:CLPT) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.03. The business had revenue of $6.81 million for the quarter, compared to analysts’ expectations of $6.40 million. ClearPoint Neuro had a negative net margin of 92.21% and a negative return on equity of 83.94%. On average, analysts predict that ClearPoint Neuro will post -0.75 EPS for the current fiscal year.

ClearPoint Neuro Company Profile

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.