Paragon 28, Inc. (NYSE:FNA) Short Interest Down 17.1% in March

Paragon 28, Inc. (NYSE:FNA - Get Free Report) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,070,000 shares, a drop of 17.1% from the March 15th total of 1,290,000 shares. Currently, 2.2% of the company's shares are short sold. Based on an average daily volume of 1,830,000 shares, the days-to-cover ratio is presently 0.6 days.

Paragon 28 Price Performance

Shares of FNA traded up $0.02 during midday trading on Thursday, reaching $13.11. The stock had a trading volume of 19,380,085 shares, compared to its average volume of 1,073,924. The firm's 50 day moving average price is $13.03 and its 200-day moving average price is $10.70. Paragon 28 has a 52 week low of $4.65 and a 52 week high of $13.13. The company has a market capitalization of $1.10 billion, a P/E ratio of -17.71 and a beta of 1.47. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60.

Paragon 28 (NYSE:FNA - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $71.75 million during the quarter, compared to the consensus estimate of $70.81 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. On average, analysts forecast that Paragon 28 will post -0.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FNA. William Blair cut Paragon 28 from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Stephens reiterated an "equal weight" rating and set a $13.00 target price (down previously from $14.00) on shares of Paragon 28 in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed a "hold" rating and issued a $13.00 price target on shares of Paragon 28 in a report on Wednesday, January 29th. Finally, Canaccord Genuity Group set a $13.00 price objective on shares of Paragon 28 in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $14.20.

Insider Transactions at Paragon 28

In other news, major shareholder Mvm Partners, Llc sold 619,747 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $12.99, for a total value of $8,050,513.53. Following the completion of the sale, the insider now owns 9,609,771 shares in the company, valued at approximately $124,830,925.29. This trade represents a 6.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 1,855,848 shares of company stock worth $24,125,789 in the last three months. 15.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Paragon 28

Institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Paragon 28 by 3.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,819 shares of the company's stock worth $277,000 after buying an additional 820 shares during the period. AlphaQuest LLC lifted its holdings in shares of Paragon 28 by 33.6% in the fourth quarter. AlphaQuest LLC now owns 3,680 shares of the company's stock valued at $38,000 after purchasing an additional 925 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Paragon 28 by 1.7% in the fourth quarter. Rhumbline Advisers now owns 62,861 shares of the company's stock worth $649,000 after buying an additional 1,024 shares during the period. State of Wyoming grew its holdings in shares of Paragon 28 by 37.4% during the fourth quarter. State of Wyoming now owns 4,359 shares of the company's stock valued at $45,000 after buying an additional 1,187 shares in the last quarter. Finally, MN Wealth Advisors LLC lifted its stake in Paragon 28 by 1.4% in the 4th quarter. MN Wealth Advisors LLC now owns 84,535 shares of the company's stock worth $873,000 after acquiring an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 63.57% of the company's stock.

About Paragon 28

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.