SS Innovations International, Inc. (NASDAQ:SSII) Sees Large Growth in Short Interest

Key Points

• Short interest surged 179.4% to 131,067 shares as of July 15, up from 46,918 shares on June 30. Short interest represents 0.1% of shares outstanding, with a days-to-cover ratio of 2.0.
• SSII shares recently traded at $3.98, within a 52-week range of $3.11 to $10.00. The company reported a quarterly loss of $0.02 per share on $11.10 million in revenue, alongside negative net margins and return on equity.
• Analyst sentiment remains negative: the stock has a consensus “Sell” rating and a $7.00 average price target, despite one firm upgrading its view from “sell” to “hold.”

SS Innovations International, Inc. (NASDAQ:SSII - Get Free Report) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 131,067 shares, an increase of 179.4% from the June 30th total of 46,918 shares. Based on an average daily trading volume, of 65,049 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.1% of the company's shares are sold short.

SS Innovations International Stock Performance

SSII traded up $0.51 during trading on Monday, hitting $3.98. 228,265 shares of the stock were exchanged, compared to its average volume of 75,409. The firm has a 50 day simple moving average of $3.69 and a 200 day simple moving average of $4.32. The firm has a market cap of $795.52 million, a price-to-earnings ratio of -79.32 and a beta of -1.96. SS Innovations International has a 1 year low of $3.11 and a 1 year high of $10.00.

SS Innovations International (NASDAQ:SSII - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $11.10 million for the quarter. SS Innovations International had a negative return on equity of 23.00% and a negative net margin of 20.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. bought a new stake in SS Innovations International during the 3rd quarter valued at $56,000. Jane Street Group LLC bought a new stake in shares of SS Innovations International in the 4th quarter valued at about $63,000. IFC & Insurance Marketing Inc. bought a new stake in shares of SS Innovations International in the 4th quarter valued at about $64,000. Goldman Sachs Group Inc. purchased a new position in shares of SS Innovations International in the 4th quarter worth approximately $68,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of SS Innovations International in the 3rd quarter worth approximately $71,000.

Wall Street Analyst Weigh In

SSII has been the subject of a number of recent analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of SS Innovations International in a report on Friday, July 17th. Loop Capital set a $7.00 target price on SS Innovations International in a research note on Wednesday, June 3rd. Finally, Wall Street Zen upgraded SS Innovations International from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell" and an average price target of $7.00.

SS Innovations International Company Profile

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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