CapsoVision (NASDAQ:CV) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• CapsoVision rose above its 200-day moving average: Shares traded as high as $6.56 and last stood at $6.44, versus a 200-day average of $6.35; the 50-day average was $6.50.
• Analyst sentiment is mixed: Ratings include two Buys, one Hold, and one Sell, giving the stock a consensus Hold rating and an average price target of $9.50.
• The company reported quarterly revenue of $3.64 million and a loss of $0.15 per share. Analysts forecast a full-year loss of $0.56 per share.

CapsoVision, Inc. (NASDAQ:CV - Get Free Report) passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $6.35 and traded as high as $6.56. CapsoVision shares last traded at $6.44, with a volume of 66,462 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CV shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of CapsoVision in a research report on Friday, September 25th. Benchmark reiterated a "speculative buy" rating on shares of CapsoVision in a research note on Friday, August 14th. Zacks Research raised CapsoVision to a "hold" rating in a research report on Monday, August 31st. Finally, Roth Capital began coverage on shares of CapsoVision in a research note on Friday, August 28th. They issued a "buy" rating and a $9.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $9.50.

CapsoVision Stock Performance

The stock's 50 day simple moving average is $6.50 and its 200 day simple moving average is $6.35. The firm has a market cap of $322.32 million, a P/E ratio of -13.70 and a beta of -2.34.

CapsoVision (NASDAQ:CV - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share (EPS) for the quarter. CapsoVision had a negative net margin of 214.74% and a negative return on equity of 177.85%. The company had revenue of $3.64 million for the quarter. As a group, analysts forecast that CapsoVision, Inc. will post -0.56 EPS for the current fiscal year.

Insider Activity at CapsoVision

In other news, major shareholder Ching Hang Shen bought 878,734 shares of the firm's stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price of $5.69 per share, with a total value of $4,999,996.46. Following the acquisition, the insider owned 2,926,655 shares of the company's stock, valued at approximately $16,652,666.95. The trade was a 42.91% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Eliyahou Et Al Harari acquired 1,757,469 shares of the firm's stock in a transaction that occurred on Friday, September 18th. The shares were purchased at an average cost of $5.69 per share, for a total transaction of $9,999,998.61. Following the completion of the acquisition, the insider owned 1,396,494 shares in the company, valued at $7,946,050.86. This represents a -486.87% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CapsoVision

Several institutional investors and hedge funds have recently added to or reduced their stakes in CV. Legal & General Group Plc bought a new stake in CapsoVision during the second quarter worth about $26,000. Connective Capital Management LLC purchased a new stake in CapsoVision in the second quarter worth about $76,000. Bank of America Corp DE grew its holdings in CapsoVision by 528.9% in the first quarter. Bank of America Corp DE now owns 22,238 shares of the company's stock worth $162,000 after purchasing an additional 18,702 shares during the period. Deutsche Bank AG bought a new position in shares of CapsoVision during the second quarter valued at approximately $263,000. Finally, Bank of New York Mellon Corp bought a new position in shares of CapsoVision during the first quarter valued at approximately $359,000.

CapsoVision Company Profile

CapsoVision, Inc is a medical technology company focused on developing and commercializing diagnostic solutions for gastrointestinal diseases. The company's primary product is the CapsoCam Plus capsule endoscope, an ingestible camera that captures images of the gastrointestinal tract as it passes through the digestive system.

CapsoCam Plus is designed to provide panoramic imaging, including a 360-degree view, to help physicians examine areas of the small bowel that can be difficult to assess using conventional endoscopy.

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