Profound Medical Corp. (NASDAQ:PROF) Sees Large Increase in Short Interest

Profound Medical Corp. (NASDAQ:PROF - Get Free Report) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 474,700 shares, a growth of 23.9% from the February 13th total of 383,200 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average trading volume of 90,300 shares, the days-to-cover ratio is currently 5.3 days.

Institutional Trading of Profound Medical

A number of institutional investors have recently modified their holdings of PROF. Raymond James Financial Inc. purchased a new position in Profound Medical in the fourth quarter valued at about $6,577,000. Magnetar Financial LLC acquired a new position in shares of Profound Medical during the 4th quarter worth $3,826,000. MMCAP International Inc. SPC purchased a new stake in shares of Profound Medical in the 4th quarter worth about $3,680,000. Altium Capital Management LLC purchased a new position in Profound Medical during the 4th quarter valued at about $3,642,000. Finally, Ring Mountain Capital LLC purchased a new stake in shares of Profound Medical in the fourth quarter valued at about $2,087,000. 47.86% of the stock is currently owned by hedge funds and other institutional investors.

Profound Medical Stock Performance

Shares of NASDAQ:PROF traded down $0.13 during trading on Friday, reaching $6.81. The company had a trading volume of 42,096 shares, compared to its average volume of 51,493. 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's fifty day moving average price is $6.89 and its 200 day moving average price is $7.45. Profound Medical has a fifty-two week low of $5.63 and a fifty-two week high of $11.42. The firm has a market capitalization of $204.57 million, a price-to-earnings ratio of -5.03 and a beta of 0.78.

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Profound Medical (NASDAQ:PROF - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.11. The company had revenue of $4.18 million during the quarter, compared to analysts' expectations 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 predict that Profound Medical will post -1.12 EPS 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.