Ring Mountain Capital LLC Purchases Shares of 277,859 Profound Medical Corp. (NASDAQ:PROF)

Ring Mountain Capital LLC acquired a new position in shares of Profound Medical Corp. (NASDAQ:PROF - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 277,859 shares of the company's stock, valued at approximately $2,087,000. Profound Medical comprises 1.4% of Ring Mountain Capital LLC's investment portfolio, making the stock its 17th biggest holding. Ring Mountain Capital LLC owned approximately 0.92% of Profound Medical at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. MMCAP International Inc. SPC acquired a new stake in Profound Medical in the fourth quarter valued at $3,680,000. Thompson Davis & CO. Inc. lifted its position in shares of Profound Medical by 78.9% during the fourth quarter. Thompson Davis & CO. Inc. now owns 182,295 shares of the company's stock worth $1,369,000 after purchasing an additional 80,395 shares during the last quarter. Truist Financial Corp bought a new position in Profound Medical during the 4th quarter worth approximately $376,000. MTM Investment Management LLC grew its position in shares of Profound Medical by 10.4% in the 4th quarter. MTM Investment Management LLC now owns 18,575 shares of the company's stock worth $139,000 after acquiring an additional 1,750 shares in the last quarter. Finally, Gagnon Advisors LLC increased its holdings in shares of Profound Medical by 20.0% in the 4th quarter. Gagnon Advisors LLC now owns 896,671 shares of the company's stock valued at $6,734,000 after acquiring an additional 149,445 shares during the last quarter. 47.86% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Separately, Raymond James upgraded shares of Profound Medical to a "strong-buy" rating in a research note on Saturday, November 9th.

Profound Medical Stock Performance

Shares of NASDAQ PROF traded down $0.43 during mid-day trading on Friday, hitting $6.86. The company had a trading volume of 75,981 shares, compared to its average volume of 75,863. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.12 and a quick ratio of 5.16. The stock has a market cap of $206.07 million, a price-to-earnings ratio of -5.12 and a beta of 0.78. Profound Medical Corp. has a 12 month low of $5.63 and a 12 month high of $11.42. The firm's 50 day simple moving average is $7.03 and its two-hundred day simple moving average is $7.61.

Profound Medical (NASDAQ:PROF - Get Free Report) last posted its earnings results on Thursday, March 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.11. The firm had revenue of $4.18 million during the quarter, compared to analyst estimates of $5.92 million. Profound Medical had a negative net margin of 349.41% and a negative return on equity of 85.22%. As a group, equities research analysts forecast that Profound Medical Corp. will post -1.12 earnings per share for the current year.

Profound Medical Company Profile

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.