Eargo, Inc. (NASDAQ:EAR) Short Interest Update

Eargo, Inc. (NASDAQ:EAR) saw a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 213,500 shares, a decrease of 6.1% from the July 31st total of 227,300 shares. Based on an average daily trading volume, of 22,300 shares, the short-interest ratio is currently 9.6 days. Approximately 6.4% of the shares of the stock are short sold.

Hedge Funds Weigh In On Eargo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley lifted its stake in shares of Eargo by 159.5% in the 4th quarter. Morgan Stanley now owns 66,942 shares of the company’s stock valued at $38,000 after purchasing an additional 41,150 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Eargo in the 2nd quarter valued at approximately $39,000. Invesco Ltd. bought a new stake in shares of Eargo in the 1st quarter valued at approximately $55,000. AQR Capital Management LLC bought a new stake in shares of Eargo in the 2nd quarter valued at approximately $98,000. Finally, Ergoteles LLC bought a new stake in shares of Eargo in the 1st quarter valued at approximately $134,000. 80.53% of the stock is owned by institutional investors.

Eargo Stock Down 0.4 %

Eargo stock traded down $0.01 during midday trading on Thursday, reaching $2.77. 9,560 shares of the stock traded hands, compared to its average volume of 59,151. The stock’s fifty day moving average is $3.95 and its 200-day moving average is $4.85. Eargo has a 12 month low of $2.51 and a 12 month high of $40.60. The stock has a market cap of $57.48 million, a P/E ratio of -0.09 and a beta of 1.56.

Eargo (NASDAQ:EAR) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.97) by ($0.11). Eargo had a negative net margin of 347.20% and a negative return on equity of 251.60%. The firm had revenue of $8.11 million for the quarter, compared to the consensus estimate of $8.20 million. On average, equities analysts predict that Eargo will post -3.96 EPS for the current fiscal year.

Eargo Company Profile

Eargo, Inc, a medical device company, engages in enhancing the quality of life of people with hearing loss in the United States. It markets and sells hearing aids. The company sells its products direct-to-consumer and through omni-channel. The company was formerly known as Aria Innovations, Inc and changed its name to Eargo, Inc in November 2014.