Carlsmed (NASDAQ:CARL) Stock Price Breaks Below Fifty Day Moving Average - Should You Sell?

Key Points

• Carlsmed shares fell 4.1% and traded at $14.40, below the 50-day moving average of $14.98; the 200-day average is $12.46.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $19.50. Four analysts rate the stock Buy, one Hold, and one Sell.
• Carlsmed reported quarterly revenue of $18.94 million and a loss of $0.39 per share, slightly better than analysts’ expected loss of $0.40.

Carlsmed, Inc. (NASDAQ:CARL - Get Free Report)'s share price crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $14.98 and traded as low as $14.27. Carlsmed shares last traded at $14.40, with a volume of 128,239 shares changing hands.

Analysts Set New Price Targets

CARL has been the subject of a number of research reports. BTIG Research lifted their price target on shares of Carlsmed from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Monday, October 12th. Wall Street Zen upgraded Carlsmed from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Truist Financial raised their price objective on Carlsmed from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Weiss Ratings raised Carlsmed from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.50.

Carlsmed Trading Down 4.1%

The stock has a market cap of $393.12 million, a PE ratio of -10.07 and a beta of 1.97. The business has a 50-day moving average of $14.98 and a 200 day moving average of $12.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 8.66 and a current ratio of 8.84.

Carlsmed (NASDAQ:CARL - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.01. Carlsmed had a negative net margin of 57.42% and a negative return on equity of 38.06%. The company had revenue of $18.94 million for the quarter. Equities research analysts predict that Carlsmed, Inc. will post -1.50 EPS for the current fiscal year.

Institutional Investors Weigh In On Carlsmed

A number of hedge funds and other institutional investors have recently modified their holdings of CARL. Jupiter Topco LLC purchased a new position in shares of Carlsmed during the second quarter valued at approximately $12,992,000. Janus Henderson Group PLC boosted its position in Carlsmed by 7.6% during the first quarter. Janus Henderson Group PLC now owns 1,227,452 shares of the company's stock worth $11,108,000 after acquiring an additional 86,834 shares during the last quarter. Parkman Healthcare Partners LLC purchased a new stake in Carlsmed in the 2nd quarter worth approximately $6,200,000. BlackRock Inc. purchased a new stake in Carlsmed in the 2nd quarter worth approximately $5,528,000. Finally, KCM Capital Inc purchased a new stake in Carlsmed in the 1st quarter worth approximately $1,810,000.

About Carlsmed

Carlsmed, Inc is a medical technology company focused on personalized solutions for spine surgery. The company combines patient-specific planning, advanced imaging, software and additive manufacturing to develop implants designed to address the anatomical needs of individual patients.

Its products include the aprevo® patient-specific interbody implant system, which is designed for use in spinal fusion procedures. Carlsmed's technology is intended to support surgeons in planning procedures and selecting or creating implants that may help restore spinal alignment and improve surgical precision.

Carlsmed serves the spine-care market through relationships with spine surgeons, hospitals and other healthcare providers.

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