Xtant Medical Holdings, Inc. (NYSEAMERICAN:XTNT) Short Interest Update

Key Points

• Short interest plunged 85.3% to 268,742 shares as of September 15, down from 1.83 million shares at the end of August. Short interest now represents 0.2% of outstanding shares, with a short ratio of 0.2 days.
• Analysts maintain a “Buy” consensus on Xtant Medical, with two analysts supporting the rating and an average price target of $1.00, well above the recent trading price of $0.37.
• Xtant reported a quarterly loss of $0.07 per share and revenue of $23.03 million, missing analyst estimates of a $0.02 loss and $24.88 million in revenue. Institutional investors own 69.33% of the company, including a new $2.5 million position from AWM Investment Company.

Xtant Medical Holdings, Inc. (NYSEAMERICAN:XTNT - Get Free Report) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 268,742 shares, a drop of 85.3% from the August 31st total of 1,828,008 shares. Based on an average daily volume of 1,305,660 shares, the short-interest ratio is currently 0.2 days. Currently, 0.2% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Loop Capital set a $1.00 price objective on Xtant Medical in a research note on Wednesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $1.00.

Xtant Medical Stock Performance

XTNT traded down $0.01 on Friday, reaching $0.37. The company had a trading volume of 78,675 shares, compared to its average volume of 682,978. Xtant Medical has a fifty-two week low of $0.27 and a fifty-two week high of $0.95. The stock has a market cap of $52.05 million, a P/E ratio of -4.64 and a beta of -0.15. The company's fifty day moving average is $0.38 and its 200 day moving average is $0.45. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 2.16.

Xtant Medical (NYSEAMERICAN:XTNT - Get Free Report) last posted its earnings results on Tuesday, August 11th. The medical device company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.05). Xtant Medical had a negative return on equity of 23.45% and a negative net margin of 10.17%.The firm had revenue of $23.03 million for the quarter, compared to analyst estimates of $24.88 million.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in XTNT. AWM Investment Company Inc. bought a new stake in Xtant Medical during the second quarter worth about $2,516,000. Renaissance Technologies LLC increased its holdings in Xtant Medical by 7.3% in the 1st quarter. Renaissance Technologies LLC now owns 987,410 shares of the medical device company's stock valued at $551,000 after buying an additional 67,550 shares during the period. Tradition Wealth Management LLC bought a new position in Xtant Medical in the 4th quarter valued at about $79,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Xtant Medical in the 4th quarter valued at approximately $284,000. 69.33% of the stock is owned by institutional investors.

About Xtant Medical

Xtant Medical Holdings, Inc is a medical technology company focused on developing, manufacturing and marketing surgical products for spinal and orthopedic procedures. The company's portfolio includes biologic products designed to support bone growth and tissue repair, as well as spinal implants and related surgical instruments.

Its products are used by surgeons and hospitals in procedures involving spinal fusion, reconstruction and other orthopedic applications. Xtant's biologics portfolio includes allograft and other regenerative solutions, while its hardware offerings include implants and instrumentation intended to support spinal stabilization and correction.

Xtant Medical is headquartered in Belgrade, Montana, and primarily serves the U.S.

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