Acutus Medical, Inc. (NASDAQ:AFIB) Sees Significant Decline in Short Interest

Acutus Medical, Inc. (NASDAQ:AFIB – Get Rating) saw a significant drop in short interest in the month of December. As of December 30th, there was short interest totalling 899,000 shares, a drop of 15.2% from the December 15th total of 1,060,000 shares. Based on an average trading volume of 547,500 shares, the days-to-cover ratio is presently 1.6 days. Currently, 4.7% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can acquired a new position in shares of Acutus Medical during the 1st quarter worth $34,000. Mirabella Financial Services LLP acquired a new position in shares of Acutus Medical during the 1st quarter worth $48,000. State Street Corp raised its stake in shares of Acutus Medical by 11.0% during the 1st quarter. State Street Corp now owns 430,865 shares of the company’s stock worth $599,000 after buying an additional 42,578 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Acutus Medical by 53.9% during the 3rd quarter. Renaissance Technologies LLC now owns 402,700 shares of the company’s stock worth $354,000 after buying an additional 141,100 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Acutus Medical by 844.0% during the 2nd quarter. AQR Capital Management LLC now owns 174,352 shares of the company’s stock worth $195,000 after buying an additional 155,883 shares during the last quarter. Institutional investors and hedge funds own 36.32% of the company’s stock.

Acutus Medical Price Performance

Acutus Medical stock opened at $1.30 on Friday. Acutus Medical has a one year low of $0.48 and a one year high of $2.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.33 and a current ratio of 5.12. The business has a fifty day moving average of $0.96 and a two-hundred day moving average of $1.04. The company has a market cap of $36.99 million, a P/E ratio of -0.42 and a beta of 0.64.

Acutus Medical (NASDAQ:AFIB – Get Rating) last released its earnings results on Thursday, November 10th. The company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.11. Acutus Medical had a negative return on equity of 100.62% and a negative net margin of 545.51%. The company had revenue of $3.64 million during the quarter, compared to the consensus estimate of $3.52 million. As a group, analysts predict that Acutus Medical will post -2.84 earnings per share for the current fiscal year.

Acutus Medical Company Profile

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Acutus Medical, Inc, an arrhythmia management company, designs, manufactures, and markets a range of tools for catheter-based ablation procedures to treat various arrhythmias in the United States and internationally. The company's product portfolio includes novel access sheaths, transseptal crossing tools, diagnostic and mapping catheters, conventional and contact force ablation catheters, and mapping and imaging consoles and accessories, as well as supporting algorithms and software programs.