SS Innovations International (NASDAQ:SSII) Hits New 12-Month Low - Here's What Happened

Key Points

• SS Innovations International shares hit a new 52-week low, falling to $2.87 during Tuesday trading before closing near $2.89, below its 50-day and 200-day moving averages.
• Analyst sentiment remains bearish: the stock carries an average “Sell” rating, although its $7.00 average price target implies substantial upside from current levels.
• The company reported a quarterly loss of $0.01 per share on $13.94 million in revenue, alongside negative net margins and return on equity; CEO Srivastava Sudhir also sold 33,333 shares at approximately $3.00 each.

SS Innovations International, Inc. (NASDAQ:SSII - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $2.87 and last traded at $2.89, with a volume of 29244 shares traded. The stock had previously closed at $2.95.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen raised SS Innovations International from a "sell" rating to a "hold" rating in a research note on Sunday, June 28th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SS Innovations International in a research note on Friday, July 17th. Finally, Loop Capital set a $7.00 target price on shares of SS Innovations International in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of "Sell" and an average price target of $7.00.

SS Innovations International Stock Performance

The stock's 50 day simple moving average is $3.52 and its two-hundred day simple moving average is $3.92. The firm has a market capitalization of $579.10 million, a PE ratio of -48.17 and a beta of -1.94.

SS Innovations International (NASDAQ:SSII - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.01) earnings per share for the quarter. SS Innovations International had a negative return on equity of 26.77% and a negative net margin of 23.73%.The company had revenue of $13.94 million for the quarter.

Insiders Place Their Bets

In other SS Innovations International news, CEO Srivastava Sudhir sold 33,333 shares of the business's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $3.00, for a total transaction of $99,999.00. Following the transaction, the chief executive officer owned 108,520,928 shares of the company's stock, valued at approximately $325,562,784. The trade was a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. IFC & Insurance Marketing Inc. grew its holdings in shares of SS Innovations International by 47.7% in the first quarter. IFC & Insurance Marketing Inc. now owns 16,730 shares of the company's stock valued at $84,000 after purchasing an additional 5,400 shares during the period. Eversept Partners LP acquired a new position in SS Innovations International in the 4th quarter valued at about $428,000. Finally, Inspire Investing LLC boosted its holdings in SS Innovations International by 26.4% in the 1st quarter. Inspire Investing LLC now owns 104,624 shares of the company's stock valued at $523,000 after purchasing an additional 21,851 shares during the last quarter.

About SS Innovations International

SS Innovations International, Inc is a medical technology company focused on developing, manufacturing and commercializing robotic-assisted surgical systems. Through its operating business in India, the company offers the SSi Mantra robotic surgery platform, which is designed to support minimally invasive procedures across multiple surgical specialties.

The company's product portfolio includes the SSi Mantra system, robotic instruments and related accessories, as well as surgical training, installation, maintenance and support services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.