Short Interest in Nephros Inc. (NASDAQ:NEPH) Expands By 323.1%

Key Points

• Short interest in Nephros Inc. increased significantly by 323.1% in September, rising to 16,500 shares from 3,900 shares in August.
• Maxim Group raised their price target for Nephros from $4.50 to $6.00 and reaffirmed a "buy" rating, contributing to a consensus rating of "Buy" with a target price of $5.50.
• An institutional investor, Topline Capital Management LLC, grew its position in Nephros by 13.1%, now holding a total of 477,449 shares valued at approximately $1.95 million.

Nephros Inc. (NASDAQ:NEPH - Get Free Report) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totaling 16,500 shares, an increase of 323.1% from the August 31st total of 3,900 shares. Currently, 0.2% of the company's stock are short sold. Based on an average trading volume of 48,000 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 48,000 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.2% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Maxim Group upped their price objective on shares of Nephros from $4.50 to $6.00 and gave the company a "buy" rating in a report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $5.50.

Institutional Investors Weigh In On Nephros

An institutional investor recently raised its position in Nephros stock. Topline Capital Management LLC grew its position in shares of Nephros Inc. (NASDAQ:NEPH - Free Report) by 13.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 477,449 shares of the company's stock after buying an additional 55,360 shares during the quarter. Topline Capital Management LLC owned 4.50% of Nephros worth $1,953,000 as of its most recent filing with the Securities & Exchange Commission. 41.10% of the stock is owned by hedge funds and other institutional investors.

Nephros Stock Down 2.3%

Shares of NASDAQ:NEPH opened at $4.62 on Thursday. The business's 50 day moving average is $4.00 and its 200 day moving average is $3.16. Nephros has a 12-month low of $1.36 and a 12-month high of $5.00. The stock has a market cap of $48.97 million, a price-to-earnings ratio of 38.50 and a beta of 1.32.

Nephros (NASDAQ:NEPH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. Nephros had a return on equity of 14.89% and a net margin of 7.95%.The business had revenue of $4.40 million for the quarter, compared to analysts' expectations of $3.60 million.

Nephros Company Profile

Nephros, Inc, a commercial-stage company, develops and sells water solutions to the medical and commercial markets in the United States. It offers ultrafiltration products that are used in dialysis centers for the removal of biological contaminants from water and bicarbonate concentrate; and in hospitals for the prevention of infection from waterborne pathogens, such as legionella and pseudomonas, as well as in military and outdoor recreation, commercial, and other healthcare facilities.

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