Edap Tms S.A. (NASDAQ:EDAP) Short Interest Down 34.6% in March

Edap Tms S.A. (NASDAQ:EDAP - Get Free Report) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 26,300 shares, a decline of 34.6% from the February 28th total of 40,200 shares. Based on an average daily trading volume, of 75,200 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are short sold.

Edap Tms Price Performance

Shares of NASDAQ:EDAP remained flat at $1.96 during mid-day trading on Tuesday. The company had a trading volume of 209,847 shares, compared to its average volume of 87,921. The stock's 50 day simple moving average is $2.42 and its 200 day simple moving average is $2.49. The company has a market capitalization of $72.72 million, a price-to-earnings ratio of -3.02 and a beta of 0.37. Edap Tms has a 52 week low of $1.90 and a 52 week high of $8.50. The company has a current ratio of 2.18, a quick ratio of 1.46 and a debt-to-equity ratio of 0.08.

Edap Tms (NASDAQ:EDAP - Get Free Report) last issued its quarterly earnings results on Thursday, March 27th. The medical equipment provider reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.06. The business had revenue of $22.69 million for the quarter, compared to the consensus estimate of $20.83 million. Edap Tms had a negative net margin of 34.92% and a negative return on equity of 44.21%. On average, research analysts predict that Edap Tms will post -0.6 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On Edap Tms

A number of hedge funds have recently made changes to their positions in EDAP. Millennium Management LLC lifted its holdings in Edap Tms by 218.5% in the 4th quarter. Millennium Management LLC now owns 48,915 shares of the medical equipment provider's stock worth $108,000 after purchasing an additional 33,558 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Edap Tms by 111.5% in the fourth quarter. BNP Paribas Financial Markets now owns 48,650 shares of the medical equipment provider's stock worth $108,000 after buying an additional 25,650 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Edap Tms by 174.7% in the fourth quarter. Jane Street Group LLC now owns 31,361 shares of the medical equipment provider's stock worth $69,000 after buying an additional 73,361 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its position in shares of Edap Tms by 48.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 160,800 shares of the medical equipment provider's stock worth $355,000 after acquiring an additional 52,500 shares during the last quarter. Finally, Rock Springs Capital Management LP grew its stake in Edap Tms by 1.5% during the fourth quarter. Rock Springs Capital Management LP now owns 1,591,800 shares of the medical equipment provider's stock valued at $3,518,000 after acquiring an additional 23,800 shares in the last quarter. Institutional investors own 62.74% of the company's stock.

Analysts Set New Price Targets

EDAP has been the topic of several research reports. Piper Sandler dropped their target price on shares of Edap Tms from $5.00 to $4.50 and set an "overweight" rating on the stock in a report on Friday. StockNews.com initiated coverage on Edap Tms in a research note on Friday. They issued a "hold" rating on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $19.00 price objective on shares of Edap Tms in a research report on Friday.

Edap Tms Company Profile

EDAP TMS SA is a holding company, which, through its subsidiary, engages in the development, production, and marketing of minimally invasive medical devices for urological diseases. It operates through the High Intensity Focused Ultrasound (HIFU) and Urology Devices and Services (UDS) segments. The HIFU segment develops, manufactures, and markets devices for the minimally invasive ablation of certain types of localized tumors using HIFU technology.