Repro Med Systems, Inc. (NASDAQ:KRMD) Sees Significant Drop in Short Interest

Posted by on Jun 17th, 2022

Repro Med Systems, Inc. (NASDAQ:KRMD – Get Rating) was the target of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 184,700 shares, a decrease of 20.3% from the May 15th total of 231,700 shares. Based on an average daily volume of 38,400 shares, the short-interest ratio is presently 4.8 days. Currently, 0.5% of the shares of the stock are sold short.

In other Repro Med Systems news, Director Joseph M. Jr. Manko purchased 20,000 shares of the firm’s stock in a transaction on Thursday, May 12th. The stock was purchased at an average cost of $2.01 per share, for a total transaction of $40,200.00. Following the transaction, the director now owns 7,393,647 shares in the company, valued at approximately $14,861,230.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 34.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of KRMD. Citadel Advisors LLC boosted its stake in Repro Med Systems by 4,152.7% during the third quarter. Citadel Advisors LLC now owns 14,306 shares of the company’s stock worth $41,000 after acquiring an additional 14,659 shares in the last quarter. Carlson Capital Management bought a new position in Repro Med Systems during the first quarter worth $43,000. Virtu Financial LLC lifted its stake in shares of Repro Med Systems by 68.5% in the fourth quarter. Virtu Financial LLC now owns 19,103 shares of the company’s stock valued at $57,000 after buying an additional 7,764 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Repro Med Systems in the fourth quarter valued at $58,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Repro Med Systems in the first quarter valued at $62,000. 59.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of KRMD traded down $0.01 during trading hours on Friday, hitting $1.96. 112,186 shares of the stock were exchanged, compared to its average volume of 54,124. Repro Med Systems has a fifty-two week low of $1.82 and a fifty-two week high of $4.72. The business has a 50-day moving average of $2.41 and a 200-day moving average of $2.82.

Repro Med Systems (NASDAQ:KRMD – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. Repro Med Systems had a negative net margin of 23.97% and a negative return on equity of 13.57%. The company had revenue of $6.24 million during the quarter, compared to analysts’ expectations of $5.97 million. Sell-side analysts anticipate that Repro Med Systems will post -0.22 EPS for the current fiscal year.

About Repro Med Systems (Get Rating)

Repro Med Systems, Inc, doing business as KORU Medical Systems, designs, manufactures, and markets portable medical devices primarily for the ambulatory infusion market in the United States and internationally. It offers mechanical infusion product comprising the FREEDOM infusion systems that include the FREEDOM60 syringe driver, the FreedomEdge syringe driver, HIgH-Flo subcutaneous safety needle sets, and precision flow rate tubing.

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