Modular Medical (NASDAQ:MODD) Stock Price Up 0.4% - Still a Buy?

Modular Medical, Inc. (NASDAQ:MODD - Get Free Report) was up 0.4% during mid-day trading on Tuesday . The company traded as high as $1.29 and last traded at $1.28. Approximately 51,159 shares were traded during trading, a decline of 26% from the average daily volume of 68,939 shares. The stock had previously closed at $1.27.

Modular Medical Stock Up 1.7 %

The stock's fifty day simple moving average is $1.39 and its two-hundred day simple moving average is $1.78. The firm has a market cap of $49.21 million, a PE ratio of -1.92 and a beta of 0.51.

Insider Activity at Modular Medical

In other news, Director Manchester Management Co Llc purchased 100,000 shares of Modular Medical stock in a transaction that occurred on Wednesday, November 27th. The stock was bought at an average price of $1.69 per share, with a total value of $169,000.00. Following the completion of the transaction, the director now directly owns 244,750 shares of the company's stock, valued at approximately $413,627.50. The trade was a 69.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 287,666 shares of company stock valued at $454,279 in the last 90 days. Corporate insiders own 20.46% of the company's stock.

Institutional Investors Weigh In On Modular Medical

Several institutional investors have recently modified their holdings of MODD. Virtu Financial LLC bought a new position in Modular Medical during the 3rd quarter valued at about $44,000. Renaissance Technologies LLC bought a new position in Modular Medical during the second quarter valued at approximately $40,000. Navigation Wealth Management Inc. boosted its holdings in Modular Medical by 233.8% in the fourth quarter. Navigation Wealth Management Inc. now owns 61,040 shares of the company's stock worth $84,000 after purchasing an additional 42,754 shares during the last quarter. State Street Corp boosted its holdings in Modular Medical by 285.8% in the third quarter. State Street Corp now owns 76,000 shares of the company's stock worth $171,000 after purchasing an additional 56,300 shares during the last quarter. Finally, Walleye Capital LLC raised its stake in Modular Medical by 299.8% during the 3rd quarter. Walleye Capital LLC now owns 75,418 shares of the company's stock valued at $170,000 after buying an additional 56,552 shares during the last quarter. 27.47% of the stock is owned by hedge funds and other institutional investors.

Modular Medical Company Profile

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.