Short Interest in SS Innovations International, Inc. (NASDAQ:SSII) Declines By 49.8%

Key Points

• Short interest in SS Innovations International fell by 49.8% to 74,555 shares as of April 15, leaving a short-interest ratio of 1.6 days and effectively 0.0% of the company's stock reported as sold short.
• Significant insider buying occurred in March: CEO Srivastava Sudhir purchased 498,753 shares and director Frederic H. Moll bought 501,253 shares, and insiders acquired 1,300,006 shares worth about $5.2 million over the past 90 days.
• The company shows weak fundamentals (quarterly EPS -$0.01, net margin -28.54%, ROE -30.23%, negative PE) with a market cap of $873 million, and Wall Street consensus ratings average a Sell.

SS Innovations International, Inc. (NASDAQ:SSII - Get Free Report) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 74,555 shares, a decrease of 49.8% from the March 31st total of 148,402 shares. Based on an average daily volume of 47,676 shares, the short-interest ratio is presently 1.6 days. Currently, 0.0% of the company's stock are sold short.

SS Innovations International Stock Performance

SSII stock opened at $4.36 on Friday. The firm has a market cap of $873.00 million and a PE ratio of -72.67. The firm's fifty day moving average is $4.73 and its 200 day moving average is $5.69. SS Innovations International has a one year low of $3.02 and a one year high of $22.42.

SS Innovations International (NASDAQ:SSII - Get Free Report) last released its quarterly earnings results on Tuesday, March 10th. The company reported ($0.01) EPS for the quarter. The firm had revenue of $14.53 million for the quarter. SS Innovations International had a negative net margin of 28.54% and a negative return on equity of 30.23%.

Insider Activity at SS Innovations International

In other news, CEO Srivastava Sudhir bought 498,753 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average price of $4.01 per share, with a total value of $1,999,999.53. Following the completion of the transaction, the chief executive officer directly owned 109,851,767 shares of the company's stock, valued at approximately $440,505,585.67. The trade was a 0.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederic H. Moll bought 501,253 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The shares were purchased at an average cost of $3.99 per share, with a total value of $1,999,999.47. Following the transaction, the director directly owned 10,775,485 shares of the company's stock, valued at $42,994,185.15. The trade was a 4.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 1,300,006 shares of company stock valued at $5,196,999 over the last 90 days.

Institutional Trading of SS Innovations International

Several institutional investors have recently modified their holdings of the stock. Inspire Investing LLC lifted its stake in shares of SS Innovations International by 26.4% in the first quarter. Inspire Investing LLC now owns 104,624 shares of the company's stock worth $523,000 after buying an additional 21,851 shares in the last quarter. IFC & Insurance Marketing Inc. raised its stake in shares of SS Innovations International by 47.7% in the 1st quarter. IFC & Insurance Marketing Inc. now owns 16,730 shares of the company's stock valued at $84,000 after acquiring an additional 5,400 shares during the period. Eversept Partners LP purchased a new stake in shares of SS Innovations International in the 4th quarter valued at approximately $428,000. Vontobel Holding Ltd. purchased a new stake in shares of SS Innovations International in the 4th quarter valued at approximately $116,000. Finally, Jane Street Group LLC acquired a new position in shares of SS Innovations International in the fourth quarter valued at approximately $63,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SS Innovations International in a report on Tuesday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, SS Innovations International has an average rating of "Sell".

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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