Paragon 28, Inc. (NYSE:FNA) Short Interest Up 14.0% in June

Paragon 28, Inc. (NYSE:FNA) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 5,300,000 shares, a growth of 14.0% from the May 31st total of 4,650,000 shares. Currently, 14.3% of the company’s shares are sold short. Based on an average trading volume of 720,500 shares, the short-interest ratio is presently 7.4 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new stake in Paragon 28 during the fourth quarter worth approximately $25,000. HighMark Wealth Management LLC acquired a new stake in shares of Paragon 28 during the 4th quarter worth $99,000. Price T Rowe Associates Inc. MD increased its position in shares of Paragon 28 by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,622 shares of the company’s stock worth $156,000 after purchasing an additional 1,766 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Paragon 28 by 26.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,886 shares of the company’s stock valued at $173,000 after purchasing an additional 2,902 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in Paragon 28 during the fourth quarter worth about $249,000. Institutional investors own 63.57% of the company’s stock.

Paragon 28 Stock Performance

Shares of FNA traded down $0.06 during mid-day trading on Wednesday, reaching $6.56. The company’s stock had a trading volume of 60,370 shares, compared to its average volume of 614,663. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.78 and a current ratio of 3.57. Paragon 28 has a 1-year low of $5.55 and a 1-year high of $18.50. The business has a 50-day simple moving average of $7.65 and a two-hundred day simple moving average of $10.27.

Paragon 28 (NYSE:FNA) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The company had revenue of $61.08 million during the quarter. Paragon 28 had a negative net margin of 24.45% and a negative return on equity of 27.72%. As a group, sell-side analysts expect that Paragon 28 will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FNA. Needham & Company LLC cut their target price on shares of Paragon 28 from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. JMP Securities dropped their price objective on Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 9th. Stephens reissued an “overweight” rating and issued a $18.00 target price on shares of Paragon 28 in a research note on Friday, April 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price target (down previously from $18.00) on shares of Paragon 28 in a research report on Thursday, May 9th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Paragon 28 presently has a consensus rating of “Buy” and a consensus target price of $16.75.

About Paragon 28

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.