InMode Ltd. (NASDAQ:INMD) Short Interest Up 6.0% in January

InMode Ltd. (NASDAQ:INMD - Get Free Report) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 6,050,000 shares, a growth of 6.0% from the January 15th total of 5,710,000 shares. Based on an average daily volume of 959,300 shares, the days-to-cover ratio is presently 6.3 days.

InMode Trading Down 0.4 %

InMode stock traded down $0.07 during mid-day trading on Friday, hitting $18.90. The stock had a trading volume of 755,111 shares, compared to its average volume of 905,750. InMode has a 12 month low of $14.87 and a 12 month high of $23.46. The stock has a market capitalization of $1.31 billion, a PE ratio of 8.04 and a beta of 2.13. The stock has a 50-day simple moving average of $17.39 and a two-hundred day simple moving average of $17.29.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on INMD shares. Barclays upped their price target on shares of InMode from $26.00 to $29.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of InMode in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $22.25.

Institutional Investors Weigh In On InMode

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. River Road Asset Management LLC bought a new position in shares of InMode during the 4th quarter worth approximately $8,572,000. Norges Bank acquired a new stake in shares of InMode during the 4th quarter worth $2,943,000. Quantedge Capital Pte Ltd grew its holdings in shares of InMode by 644.8% during the 4th quarter. Quantedge Capital Pte Ltd now owns 171,300 shares of the healthcare company's stock worth $2,861,000 after purchasing an additional 148,300 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of InMode during the 4th quarter worth $2,246,000. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of InMode during the 4th quarter worth $2,214,000. Institutional investors and hedge funds own 68.04% of the company's stock.

About InMode

InMode Ltd. designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radiofrequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States and internationally. The company offers minimally invasive aesthetic medical products for various procedures, such as liposuction with simultaneous skin tightening, body and face contouring, and ablative skin rejuvenation treatments, as well as for use in women's health conditions and procedures.