Pro-Dex, Inc. (NASDAQ:PDEX) Short Interest Down 23.9% in May

Pro-Dex, Inc. (NASDAQ:PDEX) was the target of a large decrease in short interest in May. As of May 31st, there was short interest totalling 6,700 shares, a decrease of 23.9% from the May 15th total of 8,800 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 7,100 shares, the days-to-cover ratio is currently 0.9 days.

Pro-Dex Stock Down 1.4 %

Shares of Pro-Dex stock traded down $0.28 during trading on Friday, reaching $19.32. The company had a trading volume of 1,836 shares, compared to its average volume of 7,832. The company has a market cap of $66.07 million, a price-to-earnings ratio of 33.31 and a beta of 0.41. The firm’s fifty day moving average is $18.97 and its 200-day moving average is $18.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.08 and a current ratio of 3.45. Pro-Dex has a fifty-two week low of $14.51 and a fifty-two week high of $22.99.

Pro-Dex (NASDAQ:PDEX) last issued its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.19 earnings per share (EPS) for the quarter. The business had revenue of $14.29 million for the quarter. Pro-Dex had a net margin of 4.13% and a return on equity of 6.50%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Pro-Dex from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 5th.

Institutional Investors Weigh In On Pro-Dex

An institutional investor recently raised its position in Pro-Dex stock. Perritt Capital Management Inc. lifted its holdings in shares of Pro-Dex, Inc. (NASDAQ:PDEX) by 43.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,000 shares of the medical instruments supplier’s stock after buying an additional 1,813 shares during the period. Perritt Capital Management Inc. owned 0.18% of Pro-Dex worth $106,000 at the end of the most recent reporting period. 15.28% of the stock is currently owned by institutional investors.

Pro-Dex Company Profile

Pro-Dex, Inc designs, develops, manufactures, and sells powered surgical instruments for medical device original equipment manufacturers worldwide. The company offers autoclavable, battery-powered and electric, and multi-function surgical drivers and shavers that are primarily used in the orthopedic, thoracic, and craniomaxillofacial markets.