ClearPoint Neuro (NASDAQ:CLPT) Sees Strong Trading Volume - Here's Why

Key Points

• ClearPoint Neuro's trading volume surged by 157% to 984,386 shares from the previous session, with the stock closing at $20.44.
• Analysts have updated their ratings, with Stifel Nicolaus raising its price target to $9.00 and a consensus rating of "Buy" across several reports, setting a target price of $19.67.
• ClearPoint Neuro reported a quarterly loss of ($0.21) per share, missing estimates slightly while revenues reached $9.22 million, exceeding consensus expectations.

Shares of ClearPoint Neuro, Inc. (NASDAQ:CLPT - Get Free Report) saw an uptick in trading volume on Thursday . 984,386 shares were traded during trading, an increase of 157% from the previous session's volume of 382,613 shares.The stock last traded at $20.44 and had previously closed at $19.28.

Analysts Set New Price Targets

CLPT has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price objective on ClearPoint Neuro from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Wall Street Zen upgraded ClearPoint Neuro from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $19.67.

ClearPoint Neuro Trading Up 6.5%

The stock has a market capitalization of $583.78 million, a P/E ratio of -25.27 and a beta of 0.89. The stock has a 50-day moving average price of $11.04 and a two-hundred day moving average price of $11.98. The company has a debt-to-equity ratio of 1.46, a quick ratio of 6.45 and a current ratio of 7.30.

ClearPoint Neuro (NASDAQ:CLPT - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). ClearPoint Neuro had a negative net margin of 66.15% and a negative return on equity of 94.44%. The firm had revenue of $9.22 million for the quarter, compared to the consensus estimate of $9.20 million. ClearPoint Neuro has set its FY 2025 guidance at EPS. On average, research analysts forecast that ClearPoint Neuro, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On ClearPoint Neuro

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC boosted its position in shares of ClearPoint Neuro by 156.3% during the first quarter. Millennium Management LLC now owns 741,193 shares of the company's stock valued at $8,813,000 after purchasing an additional 452,043 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of ClearPoint Neuro by 107.3% during the second quarter. Geode Capital Management LLC now owns 624,800 shares of the company's stock valued at $7,461,000 after purchasing an additional 323,429 shares in the last quarter. Lane Generational LLC boosted its position in shares of ClearPoint Neuro by 6.8% during the second quarter. Lane Generational LLC now owns 258,427 shares of the company's stock valued at $3,086,000 after purchasing an additional 16,382 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of ClearPoint Neuro by 98.3% during the first quarter. Goldman Sachs Group Inc. now owns 257,871 shares of the company's stock valued at $3,066,000 after purchasing an additional 127,823 shares in the last quarter. Finally, Conway Capital Management Inc. boosted its position in shares of ClearPoint Neuro by 31.1% during the first quarter. Conway Capital Management Inc. now owns 211,325 shares of the company's stock valued at $2,513,000 after purchasing an additional 50,100 shares in the last quarter. 30.08% of the stock is currently owned by institutional investors.

ClearPoint Neuro Company Profile

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.

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