Short Interest in Conformis, Inc. (NASDAQ:CFMS) Decreases By 17.0%

Conformis, Inc. (NASDAQ:CFMSGet Rating) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 2,440,000 shares, a drop of 17.0% from the June 30th total of 2,940,000 shares. Based on an average trading volume of 646,100 shares, the days-to-cover ratio is presently 3.8 days. Currently, 1.4% of the company’s shares are sold short.

Conformis Price Performance

Conformis stock opened at $0.26 on Thursday. Conformis has a fifty-two week low of $0.25 and a fifty-two week high of $1.96. The company has a debt-to-equity ratio of 0.24, a quick ratio of 5.87 and a current ratio of 6.84. The company has a market capitalization of $48.03 million, a P/E ratio of -6.47 and a beta of 1.25. The stock has a 50-day simple moving average of $0.33 and a 200-day simple moving average of $0.50.

Conformis (NASDAQ:CFMSGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The medical instruments supplier reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $15.55 million during the quarter, compared to analyst estimates of $13.94 million. Conformis had a negative net margin of 6.83% and a negative return on equity of 6.50%. During the same quarter last year, the firm earned ($0.09) EPS. Equities research analysts expect that Conformis will post -0.31 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Conformis in a research note on Monday. They issued a “hold” rating for the company.

Institutional Investors Weigh In On Conformis

A number of institutional investors and hedge funds have recently bought and sold shares of CFMS. Stonepine Capital Management LLC increased its holdings in shares of Conformis by 2,932.7% during the 4th quarter. Stonepine Capital Management LLC now owns 14,768,823 shares of the medical instruments supplier’s stock worth $11,245,000 after buying an additional 14,281,841 shares during the last quarter. Wasatch Advisors Inc. increased its holdings in Conformis by 9.7% in the 1st quarter. Wasatch Advisors Inc. now owns 20,030,298 shares of the medical instruments supplier’s stock valued at $12,495,000 after purchasing an additional 1,778,054 shares in the last quarter. Velan Capital Investment Management LP grew its stake in shares of Conformis by 11.5% during the first quarter. Velan Capital Investment Management LP now owns 4,644,507 shares of the medical instruments supplier’s stock valued at $2,897,000 after acquiring an additional 477,900 shares in the last quarter. Avidian Wealth Solutions LLC lifted its position in shares of Conformis by 71.6% during the second quarter. Avidian Wealth Solutions LLC now owns 875,223 shares of the medical instruments supplier’s stock worth $310,000 after purchasing an additional 365,255 shares during the last quarter. Finally, ARK Investment Management LLC lifted its position in shares of Conformis by 2.8% during the first quarter. ARK Investment Management LLC now owns 13,033,628 shares of the medical instruments supplier’s stock worth $8,130,000 after purchasing an additional 352,228 shares during the last quarter. Hedge funds and other institutional investors own 51.01% of the company’s stock.

About Conformis

(Get Rating)

Conformis, Inc, a medical technology company, develops, manufactures, and sells patient-specific products and instrumentation. The company offers personalized knee replacement products, including iUni, iDuo, a custom-made partial knee replacement option for either unicompartmental or bicompartmental osteoarthritis of the knee; iTotal CR, a cruciate retaining total knee replacement product; iTotal PS, a posterior stabilized knee replacement product, as well as provides iTotal Identity and Identity Imprint knee replacement products.

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