Shares of Profound Medical (NASDAQ:PROF - Get Free Report) traded down 0.2% during mid-day trading on Wednesday . The stock traded as low as $5.96 and last traded at $6.09. 13,905 shares were traded during mid-day trading, a decline of 79% from the average session volume of 65,452 shares. The stock had previously closed at $6.10.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Raymond James Financial lowered shares of Profound Medical from a "strong-buy" rating to a "moderate buy" rating in a research note on Friday, May 9th. Lake Street Capital decreased their price objective on shares of Profound Medical from $17.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd.
Get Our Latest Research Report on PROF
Profound Medical Trading Down 0.2%
The business's 50-day moving average price is $5.48 and its 200 day moving average price is $6.17. The company has a market cap of $183.00 million, a P/E ratio of -4.99 and a beta of 0.49. The company has a debt-to-equity ratio of 0.09, a quick ratio of 10.03 and a current ratio of 11.31.
Profound Medical (NASDAQ:PROF - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.07). Profound Medical had a negative net margin of 269.35% and a negative return on equity of 70.41%. The firm had revenue of $2.62 million during the quarter, compared to the consensus estimate of $4.78 million. As a group, analysts expect that Profound Medical will post -1.12 earnings per share for the current year.
Insider Activity at Profound Medical
In other news, CEO Arun Swarup Menawat acquired 12,027 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was bought at an average price of $4.73 per share, with a total value of $56,887.71. Following the transaction, the chief executive officer directly owned 587,089 shares in the company, valued at approximately $2,776,930.97. The trade was a 2.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.52% of the stock is currently owned by company insiders.
Institutional Trading of Profound Medical
Several hedge funds and other institutional investors have recently modified their holdings of PROF. PNC Financial Services Group Inc. bought a new stake in shares of Profound Medical during the 1st quarter worth about $64,000. XTX Topco Ltd bought a new stake in shares of Profound Medical during the 4th quarter worth about $114,000. Marshall Wace LLP boosted its holdings in shares of Profound Medical by 201.6% during the 4th quarter. Marshall Wace LLP now owns 36,216 shares of the company's stock worth $272,000 after buying an additional 24,208 shares during the period. Northwest & Ethical Investments L.P. boosted its holdings in shares of Profound Medical by 94.9% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 46,200 shares of the company's stock worth $346,000 after buying an additional 22,500 shares during the period. Finally, Vestcor Inc bought a new stake in shares of Profound Medical during the 4th quarter worth about $376,000. Institutional investors own 47.86% of the company's stock.
About Profound Medical
(
Get Free Report)
Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.
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