STAAR Surgical (NASDAQ:STAA) Short Interest Down 30.1% in October

STAAR Surgical (NASDAQ:STAA) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 2,920,000 shares, a decrease of 30.1% from the October 15th total of 4,180,000 shares. Based on an average trading volume of 746,000 shares, the days-to-cover ratio is currently 3.9 days.

STAAR Surgical Stock Down 2.3 %

Shares of NASDAQ:STAA traded down $0.64 on Friday, reaching $26.66. The company had a trading volume of 495,977 shares, compared to its average volume of 712,914. The stock has a 50-day moving average price of $31.29 and a 200 day moving average price of $37.34. STAAR Surgical has a twelve month low of $26.62 and a twelve month high of $52.68. The stock has a market capitalization of $1.31 billion, a P/E ratio of 60.59 and a beta of 0.61.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Stifel Nicolaus decreased their price target on STAAR Surgical from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Needham & Company LLC restated a “hold” rating on shares of STAAR Surgical in a research report on Thursday, October 31st. Finally, Canaccord Genuity Group reduced their price objective on STAAR Surgical from $41.00 to $31.00 and set a “hold” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $43.33.

Institutional Investors Weigh In On STAAR Surgical

Several hedge funds and other institutional investors have recently made changes to their positions in STAA. Arcadia Investment Management Corp MI bought a new position in STAAR Surgical in the 3rd quarter worth approximately $37,000. Quarry LP acquired a new stake in STAAR Surgical in the 3rd quarter worth $50,000. Covestor Ltd raised its position in shares of STAAR Surgical by 38.9% during the first quarter. Covestor Ltd now owns 2,690 shares of the medical instruments supplier’s stock valued at $103,000 after buying an additional 754 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in STAAR Surgical during the second quarter worth about $129,000. Finally, Larson Financial Group LLC bought a new position in STAAR Surgical during the second quarter valued at about $130,000. 96.70% of the stock is owned by institutional investors and hedge funds.

About STAAR Surgical

STAAR Surgical Company, together with its subsidiaries, designs, develops, manufactures, markets, and sells implantable lenses for the eye, and companion delivery systems to deliver the lenses into the eye. The company provides implantable Collamer lens product family (ICLs) to treat visual disorders, such as myopia, hyperopia, astigmatism, and presbyopia.