Paragon 28, Inc. (NYSE:FNA) Sees Large Drop in Short Interest

Paragon 28, Inc. (NYSE:FNA - Get Free Report) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 1,070,000 shares, a decrease of 17.1% from the March 15th total of 1,290,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,830,000 shares, the days-to-cover ratio is currently 0.6 days.

Paragon 28 Trading Up 0.1 %

Shares of NYSE:FNA traded up $0.02 on Friday, hitting $13.11. 19,380,085 shares of the company's stock were exchanged, compared to its average volume of 1,076,688. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -17.71 and a beta of 1.47. The business's 50 day simple moving average is $13.04 and its two-hundred day simple moving average is $10.76. Paragon 28 has a 12 month low of $4.65 and a 12 month high of $13.13. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.50 and a quick ratio of 1.60.

Paragon 28 (NYSE:FNA - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The company had revenue of $71.75 million for the quarter, compared to the consensus estimate of $70.81 million. Analysts anticipate that Paragon 28 will post -0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FNA. Canaccord Genuity Group set a $13.00 price target on Paragon 28 in a research note on Wednesday, January 29th. Stephens reiterated an "equal weight" rating and issued a $13.00 price target (down previously from $14.00) on shares of Paragon 28 in a research note on Thursday, January 30th. William Blair cut shares of Paragon 28 from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 29th. Finally, Needham & Company LLC reaffirmed a "hold" rating and issued a $13.00 price objective on shares of Paragon 28 in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Paragon 28 presently has an average rating of "Hold" and an average price target of $14.20.

Insiders Place Their Bets

In other news, major shareholder Mvm Partners, Llc sold 27,142 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $11.62, for a total value of $315,390.04. Following the transaction, the insider now owns 10,313,841 shares in the company, valued at approximately $119,846,832.42. This trade represents a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 1,855,848 shares of company stock valued at $24,125,789 over the last quarter. 15.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Paragon 28

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Paragon 28 by 3.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,819 shares of the company's stock valued at $277,000 after purchasing an additional 820 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Paragon 28 by 33.6% during the 4th quarter. AlphaQuest LLC now owns 3,680 shares of the company's stock valued at $38,000 after purchasing an additional 925 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Paragon 28 by 1.7% in the 4th quarter. Rhumbline Advisers now owns 62,861 shares of the company's stock valued at $649,000 after purchasing an additional 1,024 shares during the period. State of Wyoming grew its position in Paragon 28 by 37.4% during the fourth quarter. State of Wyoming now owns 4,359 shares of the company's stock valued at $45,000 after buying an additional 1,187 shares during the period. Finally, MN Wealth Advisors LLC increased its holdings in Paragon 28 by 1.4% in the fourth quarter. MN Wealth Advisors LLC now owns 84,535 shares of the company's stock valued at $873,000 after buying an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 63.57% of the company's stock.

About Paragon 28

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.