Short Interest in EDAP TMS S.A. (NASDAQ:EDAP) Drops By 66.9%

Key Points

• Short interest in EDAP TMS S.A. dropped by 66.9% in September, with total short shares decreasing from 164,600 to 54,500.
• The stock was trading at $2.33 with a market capitalization of $87.12 million and a price-to-earnings ratio of -3.82.
• Institutional investors and hedge funds now own 62.74% of EDAP TMS, with several firms increasing their stake significantly in recent quarters.

EDAP TMS S.A. (NASDAQ:EDAP - ) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 54,500 shares, a decrease of 66.9% from the August 31st total of 164,600 shares. Based on an average daily volume of 93,400 shares, the short-interest ratio is presently 0.6 days. Based on an average daily volume of 93,400 shares, the short-interest ratio is presently 0.6 days.

EDAP TMS Stock Performance

NASDAQ:EDAP traded down $0.02 during trading hours on Thursday, reaching $2.33. 29,643 shares of the company's stock were exchanged, compared to its average volume of 69,157. The firm has a market capitalization of $87.12 million, a price-to-earnings ratio of -3.82 and a beta of -0.15. The company has a 50-day moving average of $1.94 and a 200 day moving average of $1.83. The company has a quick ratio of 1.05, a current ratio of 1.51 and a debt-to-equity ratio of 0.04. EDAP TMS has a 1-year low of $1.21 and a 1-year high of $3.08.

Institutional Trading of EDAP TMS

Several hedge funds have recently made changes to their positions in EDAP. Cetera Investment Advisers increased its holdings in shares of EDAP TMS by 33.9% in the 1st quarter. Cetera Investment Advisers now owns 75,000 shares of the medical equipment provider's stock valued at $147,000 after purchasing an additional 19,000 shares in the last quarter. Simplicity Wealth LLC purchased a new position in shares of EDAP TMS in the 2nd quarter valued at about $54,000. Millennium Management LLC increased its holdings in shares of EDAP TMS by 218.5% in the 4th quarter. Millennium Management LLC now owns 48,915 shares of the medical equipment provider's stock valued at $108,000 after purchasing an additional 33,558 shares in the last quarter. Jane Street Group LLC increased its holdings in EDAP TMS by 174.7% during the 4th quarter. Jane Street Group LLC now owns 31,361 shares of the medical equipment provider's stock valued at $69,000 after acquiring an additional 73,361 shares in the last quarter. Finally, Sage Mountain Advisors LLC purchased a new position in EDAP TMS during the 2nd quarter valued at about $165,000. Institutional investors and hedge funds own 62.74% of the company's stock.

EDAP TMS Company Profile

EDAP TMS SA is a holding company, which, through its subsidiary, engages in the development, production, and marketing of minimally invasive medical devices for urological diseases. It operates through the High Intensity Focused Ultrasound (HIFU) and Urology Devices and Services (UDS) segments. The HIFU segment develops, manufactures, and markets devices for the minimally invasive ablation of certain types of localized tumors using HIFU technology.

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