AtriCure, Inc. (NASDAQ:ATRC) Short Interest Up 19.7% in March

AtriCure, Inc. (NASDAQ:ATRC - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,700,000 shares, an increase of 19.7% from the February 28th total of 1,420,000 shares. Approximately 3.6% of the shares of the company are sold short. Based on an average trading volume of 571,400 shares, the short-interest ratio is presently 3.0 days.

Insider Activity at AtriCure

In other news, Director Karen Prange sold 6,100 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $38.12, for a total transaction of $232,532.00. Following the sale, the director now owns 17,828 shares of the company's stock, valued at $679,603.36. The trade was a 25.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of AtriCure

Large investors have recently made changes to their positions in the company. State Street Corp raised its position in AtriCure by 4.9% in the third quarter. State Street Corp now owns 1,344,856 shares of the medical device company's stock valued at $37,710,000 after purchasing an additional 63,002 shares during the last quarter. Geode Capital Management LLC raised its stake in AtriCure by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,152,628 shares of the medical device company's stock worth $32,326,000 after buying an additional 32,676 shares during the period. Atom Investors LP bought a new position in shares of AtriCure in the 3rd quarter worth $1,741,000. Silver Oak Securities Incorporated acquired a new position in shares of AtriCure during the fourth quarter valued at about $220,000. Finally, Calamos Advisors LLC increased its holdings in AtriCure by 27.9% during the 4th quarter. Calamos Advisors LLC now owns 110,671 shares of the medical device company's stock worth $3,382,000 after purchasing an additional 24,147 shares in the last quarter. Institutional investors and hedge funds own 99.11% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms recently issued reports on ATRC. JMP Securities restated a "market outperform" rating and issued a $60.00 target price on shares of AtriCure in a report on Monday, February 10th. BTIG Research reissued a "buy" rating on shares of AtriCure in a research report on Thursday, March 27th. Stifel Nicolaus lifted their price objective on shares of AtriCure from $36.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a "buy" rating and set a $51.00 price target on shares of AtriCure in a research report on Thursday, March 27th. Finally, Piper Sandler boosted their target price on shares of AtriCure from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $49.44.

AtriCure Stock Performance

ATRC stock traded down $0.42 during trading hours on Monday, reaching $30.89. The stock had a trading volume of 171,723 shares, compared to its average volume of 670,048. AtriCure has a fifty-two week low of $18.94 and a fifty-two week high of $43.11. The stock has a market capitalization of $1.51 billion, a PE ratio of -32.57 and a beta of 1.65. The stock has a 50-day simple moving average of $37.28 and a 200 day simple moving average of $34.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.65 and a quick ratio of 2.62.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.