SS Innovations International (NASDAQ:SSII) Shares Gap Down - Here's Why

Key Points

• SSII shares gapped down from a previous close of $3.41 to open at $3.25, later trading at $3.33 on relatively light volume.
• Analyst sentiment remains negative: Weiss Ratings maintained a “sell” rating, Wall Street Zen upgraded the stock to “hold,” and the consensus rating is “Sell” with a $7.00 target price.
• The company reported a quarterly loss of $0.01 per share on $13.94 million in revenue, alongside a negative net margin of 23.73% and negative return on equity of 26.77%.

Shares of SS Innovations International, Inc. (NASDAQ:SSII - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $3.41, but opened at $3.25. SS Innovations International shares last traded at $3.33, with a volume of 4,902 shares.

Wall Street Analysts Forecast Growth

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

SS Innovations International Stock Performance

The firm has a market cap of $670.09 million, a PE ratio of -55.18 and a beta of -1.94. The firm's 50 day moving average price is $3.66 and its two-hundred day moving average price is $4.07.

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

Institutional Investors Weigh In On SS Innovations International

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC acquired a new stake in SS Innovations International in the 2nd quarter valued at about $122,000. Envestnet Asset Management Inc. purchased a new stake in SS Innovations International during the 3rd quarter worth about $71,000. PNC Financial Services Group Inc. purchased a new stake in SS Innovations International during the third quarter worth approximately $56,000. Handelsbanken Fonder AB lifted 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 worth $682,000 after buying an additional 10,198 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in SS Innovations International in the fourth quarter valued at $68,000.

About SS Innovations International

AVRA Medical Robotics, Inc develops and manufactures medical surgical devices. The company has a research agreement with the University of Central Florida to develop navigation and control technologies with applications in medical robotics. The company was formerly known as AVRA Surgical Microsystems, Inc and changed its name to AVRA Medical Robotics, Inc in November 2015. AVRA Medical Robotics, Inc was founded in 2015 and is based in Orlando, Florida.

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