ClearPoint Neuro, Inc. (NASDAQ:CLPT) Short Interest Down 37.5% in July

ClearPoint Neuro, Inc. (NASDAQ:CLPT) saw a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 855,900 shares, a decrease of 37.5% from the June 30th total of 1,370,000 shares. Based on an average daily volume of 207,100 shares, the days-to-cover ratio is currently 4.1 days.

ClearPoint Neuro Stock Down 1.3 %

Shares of CLPT traded down $0.10 during midday trading on Friday, reaching $7.46. The company had a trading volume of 29,897 shares, compared to its average volume of 173,959. The firm has a 50 day simple moving average of $6.08 and a 200-day simple moving average of $6.43. The stock has a market cap of $204.55 million, a PE ratio of -8.77 and a beta of 1.07. ClearPoint Neuro has a 1-year low of $4.05 and a 1-year high of $7.97.

ClearPoint Neuro (NASDAQ:CLPT) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. The business had revenue of $7.64 million during the quarter, compared to analysts’ expectations of $7.04 million. ClearPoint Neuro had a negative net margin of 78.84% and a negative return on equity of 76.92%. As a group, sell-side analysts anticipate that ClearPoint Neuro will post -0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ClearPoint Neuro

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legato Capital Management LLC increased its position in shares of ClearPoint Neuro by 21.6% during the 2nd quarter. Legato Capital Management LLC now owns 158,968 shares of the company’s stock worth $857,000 after purchasing an additional 28,227 shares during the last quarter. AWM Investment Company Inc. purchased a new position in ClearPoint Neuro during the first quarter worth about $894,000. Price T Rowe Associates Inc. MD increased its position in shares of ClearPoint Neuro by 7.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,867 shares of the company’s stock valued at $170,000 after acquiring an additional 1,813 shares during the last quarter. CM Management LLC raised its stake in shares of ClearPoint Neuro by 87.5% in the 1st quarter. CM Management LLC now owns 375,000 shares of the company’s stock valued at $2,550,000 after acquiring an additional 175,000 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of ClearPoint Neuro by 23,048.0% in the 1st quarter. Russell Investments Group Ltd. now owns 46,296 shares of the company’s stock worth $315,000 after acquiring an additional 46,096 shares during the last quarter. Hedge funds and other institutional investors own 30.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley started coverage on ClearPoint Neuro in a research note on Thursday. They issued a “buy” rating and a $10.00 target price on the stock.

About ClearPoint Neuro

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.