Monogram Orthopaedics, Inc. (NASDAQ:MGRM) Short Interest Down 12.8% in May

Monogram Orthopaedics, Inc. (NASDAQ:MGRM - Get Free Report) was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 401,000 shares, a decrease of 12.8% from the April 30th total of 459,800 shares. Currently, 1.7% of the company's stock are sold short. Based on an average trading volume of 638,900 shares, the days-to-cover ratio is presently 0.6 days.

Analyst Ratings Changes

A number of research firms have recently weighed in on MGRM. Roth Mkm raised their price target on Monogram Orthopaedics from $4.00 to $5.40 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Roth Capital set a $5.40 price target on shares of Monogram Orthopaedics in a report on Tuesday, March 18th.

Institutional Investors Weigh In On Monogram Orthopaedics

A number of hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its position in Monogram Orthopaedics by 21.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 41,628 shares of the company's stock valued at $99,000 after buying an additional 7,366 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in shares of Monogram Orthopaedics in the fourth quarter valued at approximately $31,000. Geode Capital Management LLC boosted its holdings in shares of Monogram Orthopaedics by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 226,378 shares of the company's stock worth $537,000 after acquiring an additional 16,234 shares in the last quarter. Wells Fargo & Company MN grew its position in Monogram Orthopaedics by 286.6% during the 4th quarter. Wells Fargo & Company MN now owns 11,597 shares of the company's stock worth $27,000 after acquiring an additional 8,597 shares during the last quarter. Finally, Northern Trust Corp grew its position in Monogram Orthopaedics by 110.6% during the 4th quarter. Northern Trust Corp now owns 45,873 shares of the company's stock worth $109,000 after acquiring an additional 24,088 shares during the last quarter. Institutional investors and hedge funds own 0.45% of the company's stock.

Monogram Orthopaedics Trading Up 2.6%

MGRM stock traded up $0.07 during trading on Friday, reaching $2.59. 42,294 shares of the stock were exchanged, compared to its average volume of 247,441. Monogram Orthopaedics has a twelve month low of $1.92 and a twelve month high of $4.21. The company has a market capitalization of $92.25 million, a P/E ratio of -5.50 and a beta of 0.41. The stock has a 50 day simple moving average of $2.66 and a 200-day simple moving average of $2.58.

Monogram Orthopaedics (NASDAQ:MGRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. Equities analysts predict that Monogram Orthopaedics will post -0.49 EPS for the current year.

Monogram Orthopaedics Company Profile

Monogram Orthopaedics, Inc focuses on developing a product solution architecture to enable patient-optimized orthopaedic implants. The company intends to produce and market robotic surgical equipment and related software, orthopedic implants, tissue ablation tools, navigation consumables, and other miscellaneous instrumentation for use in reconstructive joint replacement procedures.