Edap Tms S.A. (NASDAQ:EDAP) Sees Significant Drop in Short Interest

Edap Tms S.A. (NASDAQ:EDAP - Get Free Report) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 75,600 shares, a decline of 20.3% from the April 30th total of 94,800 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 124,400 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On Edap Tms

A number of hedge funds have recently made changes to their positions in EDAP. Illumine Investment Management LLC bought a new position in shares of Edap Tms in the fourth quarter worth about $50,000. Rock Springs Capital Management LP boosted its stake in shares of Edap Tms by 1.5% in the fourth quarter. Rock Springs Capital Management LP now owns 1,591,800 shares of the medical equipment provider's stock worth $3,518,000 after acquiring an additional 23,800 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in shares of Edap Tms by 48.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 160,800 shares of the medical equipment provider's stock worth $355,000 after acquiring an additional 52,500 shares during the period. Jane Street Group LLC boosted its stake in shares of Edap Tms by 174.7% in 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 period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Edap Tms by 111.5% in 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 period. Institutional investors own 62.74% of the company's stock.

Edap Tms Stock Performance

NASDAQ EDAP remained flat at $1.81 on Thursday. The company had a trading volume of 17,217 shares, compared to its average volume of 97,500. The firm has a market cap of $67.68 million, a P/E ratio of -2.78 and a beta of 0.13. The company has a quick ratio of 1.46, a current ratio of 2.18 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $1.80 and a 200 day simple moving average of $2.16. Edap Tms has a 12 month low of $1.26 and a 12 month high of $5.46.

Edap Tms (NASDAQ:EDAP - Get Free Report) last released its earnings results on Thursday, May 15th. The medical equipment provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.04). The company had revenue of $16.37 million for the quarter, compared to analysts' expectations of $16.56 million. Edap Tms had a negative net margin of 34.92% and a negative return on equity of 44.21%. As a group, sell-side analysts predict that Edap Tms will post -0.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on EDAP shares. Wall Street Zen started coverage on Edap Tms in a report on Thursday, May 15th. They issued a "hold" rating for the company. HC Wainwright reiterated a "buy" rating and set a $19.00 target price on shares of Edap Tms in a research report on Friday, March 28th. Jefferies Financial Group reiterated a "hold" rating and set a $2.00 target price (down from $8.00) on shares of Edap Tms in a research report on Friday, April 4th. Finally, Piper Sandler downgraded Edap Tms from an "overweight" rating to a "neutral" rating in a research report on Thursday, May 15th.

About Edap Tms

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.