SS Innovations International (NASDAQ:SSII) Hits New 12-Month Low - Time to Sell?

Key Points

• SSII shares fell to a new 52-week low, trading as low as $3.11 and closing near $3.10, below its 50-day and 200-day moving averages.
• Analyst sentiment remains negative: the stock carries a consensus “Sell” rating with a $7.00 target price, while recent ratings ranged from “sell” to “hold.”
• The company reported a quarterly loss of $0.01 per share, $13.94 million in revenue, and negative profitability metrics; CEO Srivastava Sudhir also sold 33,333 shares, though several hedge funds increased their positions.

SS Innovations International, Inc. (NASDAQ:SSII - Get Free Report) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $3.11 and last traded at $3.10, with a volume of 64303 shares traded. The stock had previously closed at $3.30.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SSII. Weiss Ratings restated a "sell (e+)" rating on shares of SS Innovations International in a research note on Friday, July 17th. Wall Street Zen upgraded SS Innovations International from a "sell" rating to a "hold" rating in a research note on Sunday, June 28th. Finally, Loop Capital set a $7.00 price target on SS Innovations International in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of "Sell" and a consensus target price of $7.00.

SS Innovations International Stock Performance

The stock has a 50-day moving average of $3.57 and a 200 day moving average of $3.97. The firm has a market capitalization of $624.18 million, a P/E ratio of -51.92 and a beta of -1.94.

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

Insiders Place Their Bets

In other SS Innovations International news, CEO Srivastava Sudhir sold 33,333 shares of the company'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. This represents a 0.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On SS Innovations International

Hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its position in shares of SS Innovations International by 9.3% during the 4th quarter. Handelsbanken Fonder AB now owns 120,000 shares of the company's stock valued at $682,000 after acquiring an additional 10,198 shares during the last quarter. Eversept Partners LP grew its holdings in shares of SS Innovations International by 46.2% in the 1st quarter. Eversept Partners LP now owns 110,157 shares of the company's stock valued at $551,000 after buying an additional 34,799 shares during the period. Inspire Investing LLC increased its position in shares of 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 buying an additional 21,851 shares in the last quarter. Finally, IFC & Insurance Marketing Inc. raised its stake in SS Innovations International by 47.7% during the 1st quarter. IFC & Insurance Marketing Inc. now owns 16,730 shares of the company's stock worth $84,000 after buying an additional 5,400 shares during the period.

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.