Silk Road Medical (NASDAQ:SILK) Sees Unusually-High Trading Volume

Shares of Silk Road Medical, Inc (NASDAQ:SILK) saw unusually-strong trading volume on Wednesday . Approximately 1,057,638 shares changed hands during trading, a decline of 2% from the previous session’s volume of 1,078,475 shares.The stock last traded at $26.88 and had previously closed at $26.90.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SILK shares. Stifel Nicolaus lifted their target price on Silk Road Medical from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Piper Sandler boosted their price target on Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on Silk Road Medical from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Lake Street Capital restated a “hold” rating and issued a $27.50 price target (down from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Finally, Argus upgraded Silk Road Medical from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.85.

Silk Road Medical Stock Down 0.1 %

The business has a fifty day simple moving average of $21.28 and a 200-day simple moving average of $17.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 11.05 and a quick ratio of 9.62.

Silk Road Medical (NASDAQ:SILK) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.04. Silk Road Medical had a negative return on equity of 35.47% and a negative net margin of 29.02%. The firm had revenue of $48.50 million for the quarter, compared to analyst estimates of $44.67 million. During the same quarter in the previous year, the company posted ($0.43) EPS. The business’s revenue was up 20.9% on a year-over-year basis. As a group, research analysts forecast that Silk Road Medical, Inc will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silk Road Medical

Institutional investors have recently made changes to their positions in the stock. CWM LLC boosted its position in shares of Silk Road Medical by 151.5% during the 4th quarter. CWM LLC now owns 2,563 shares of the company’s stock valued at $31,000 after purchasing an additional 1,544 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Silk Road Medical by 1,293.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock worth $31,000 after acquiring an additional 2,342 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Silk Road Medical by 879.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock worth $52,000 after acquiring an additional 3,780 shares in the last quarter. Quest Partners LLC bought a new position in Silk Road Medical in the fourth quarter worth approximately $62,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Silk Road Medical by 369.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,834 shares of the company’s stock worth $96,000 after acquiring an additional 6,165 shares in the last quarter.

Silk Road Medical Company Profile

Silk Road Medical, Inc operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization (TCAR). Its products comprise ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and establish temporary blood flow reversal; ENROUTE Transcarotid Stent System for transcarotid access; ENHANCE Transcarotid Peripheral Access Kit, which is used to gain initial access to the common carotid artery; ENROUTE 0.014 Guidewire for atraumatic vessel navigation and target lesion crossing for delivery of interventional devices; and ENROUTE Enflate Transcarotid RX Balloon Dilation Catheter, a transcarotid rapid exchange balloon for the TCAR procedure.