Edap Tms (NASDAQ:EDAP) Share Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Edap Tms S.A. shares have surpassed their 200-day moving average, trading as high as $2.70, with the last recorded price at $2.61.
• Research firms have recently adjusted their ratings, with Piper Sandler downgrading Edap Tms from "overweight" to "neutral" and an overall average rating of "Hold" with a target price of $8.50.
• Institutional investors now hold 62.74% of Edap Tms stock, with several firms significantly increasing their positions in recent quarters.

Edap Tms S.A. (NASDAQ:EDAP - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.84 and traded as high as $2.70. Edap Tms shares last traded at $2.61, with a volume of 31,623 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EDAP. Piper Sandler cut shares of Edap Tms from an "overweight" rating to a "neutral" rating in a research note on Thursday, May 15th. Wall Street Zen began coverage on shares of Edap Tms in a research note on Thursday, May 15th. They set a "hold" rating for the company. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Edap Tms presently has an average rating of "Hold" and an average price target of $8.50.

Edap Tms Stock Down 1.9%

The firm has a market cap of $97.59 million, a PE ratio of -4.28 and a beta of -0.21. The business's 50 day moving average price is $1.67 and its 200 day moving average price is $1.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.51 and a quick ratio of 1.05.

Hedge Funds Weigh In On Edap Tms

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers boosted its position in Edap Tms by 33.9% during the first quarter. Cetera Investment Advisers now owns 75,000 shares of the medical equipment provider's stock worth $147,000 after acquiring an additional 19,000 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Edap Tms by 111.5% during the fourth quarter. BNP Paribas Financial Markets now owns 48,650 shares of the medical equipment provider's stock worth $108,000 after acquiring an additional 25,650 shares during the last quarter. Simplicity Wealth LLC acquired a new position in Edap Tms during the second quarter worth about $54,000. Millennium Management LLC boosted its position in Edap Tms by 218.5% during the fourth quarter. Millennium Management LLC now owns 48,915 shares of the medical equipment provider's stock worth $108,000 after acquiring an additional 33,558 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Edap Tms by 174.7% during the fourth quarter. Jane Street Group LLC now owns 31,361 shares of the medical equipment provider's stock worth $69,000 after acquiring an additional 73,361 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Edap Tms Company Profile

EDAP TMS SA is a holding company, which, through its subsidiary, engages in the development, production, and marketing of minimally invasive medical devices for urological diseases. It operates through the High Intensity Focused Ultrasound (HIFU) and Urology Devices and Services (UDS) segments. The HIFU segment develops, manufactures, and markets devices for the minimally invasive ablation of certain types of localized tumors using HIFU technology.

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