Short Interest in AngioDynamics, Inc. (NASDAQ:ANGO) Increases By 24.2%

AngioDynamics, Inc. (NASDAQ:ANGO - Get Free Report) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totalling 1,850,000 shares, an increase of 24.2% from the April 30th total of 1,490,000 shares. Based on an average daily volume of 494,500 shares, the short-interest ratio is currently 3.7 days. Currently, 4.8% of the company's stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ANGO. SBI Securities Co. Ltd. acquired a new position in AngioDynamics in the 4th quarter worth approximately $28,000. US Bancorp DE increased its stake in shares of AngioDynamics by 1,938.0% in the fourth quarter. US Bancorp DE now owns 6,705 shares of the medical instruments supplier's stock worth $61,000 after acquiring an additional 6,376 shares during the period. Quinn Opportunity Partners LLC purchased a new position in shares of AngioDynamics during the fourth quarter worth $92,000. ProShare Advisors LLC acquired a new position in AngioDynamics during the fourth quarter valued at $100,000. Finally, Graham Capital Management L.P. purchased a new stake in AngioDynamics in the fourth quarter valued at $106,000. 89.43% of the stock is owned by institutional investors and hedge funds.

AngioDynamics Stock Up 0.1%

Shares of AngioDynamics stock traded up $0.01 during midday trading on Wednesday, hitting $10.96. The company had a trading volume of 488,663 shares, compared to its average volume of 569,690. The company has a fifty day simple moving average of $9.49 and a 200 day simple moving average of $9.64. The stock has a market cap of $445.05 million, a price-to-earnings ratio of -1.95 and a beta of 0.58. AngioDynamics has a 12-month low of $5.47 and a 12-month high of $13.50.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 2nd. The medical instruments supplier reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.16. The business had revenue of $72.00 million during the quarter, compared to analysts' expectations of $70.30 million. AngioDynamics had a negative net margin of 79.38% and a negative return on equity of 7.26%. The company's quarterly revenue was down 4.3% on a year-over-year basis. As a group, analysts expect that AngioDynamics will post -0.37 EPS for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a "buy" rating and set a $16.00 target price (up from $15.00) on shares of AngioDynamics in a research note on Monday, April 7th.

About AngioDynamics

AngioDynamics, Inc, a medical technology company, engages in the design, manufacture, and sale of medical, surgical, and diagnostic devices for the use in treating peripheral vascular disease, and oncology and surgical settings in the United States and internationally. The company offers Auryon Atherectomy system that is designed to deliver an optimized wavelength, pulse width, and amplitude to remove lesions while preserving vessel wall endothelium.