SS Innovations International, Inc. (NASDAQ:SSII) Short Interest Update

Key Points

• Short interest fell 14.1% in March to 213,820 shares (about 0.1% of shares outstanding), with a days-to-cover ratio of roughly 2.5 based on average daily volume.
• Significant insider buying: CEO Srivastava purchased 498,753 shares at $4.01 (~$2.0M) and Director Timothy Adams bought 300,000 shares at $3.99, as insiders acquired 1,300,006 shares (~$5.197M) over the past 90 days.
• The stock traded near $4.88 (down 0.9%), the company reported (‑$0.01) EPS and negative margins, and analysts maintain an overall "Sell" consensus.

SS Innovations International, Inc. (NASDAQ:SSII - Get Free Report) was the recipient of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 213,820 shares, a drop of 14.1% from the February 26th total of 248,995 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 84,979 shares, the days-to-cover ratio is presently 2.5 days.

Insiders Place Their Bets

In other SS Innovations International news, CEO Srivastava Sudhir purchased 498,753 shares of the stock in a transaction on Friday, March 6th. The shares were purchased at an average price of $4.01 per share, with a total value of $1,999,999.53. Following the acquisition, the chief executive officer directly owned 109,851,767 shares of the company's stock, valued at $440,505,585.67. This represents a 0.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy P. Adams acquired 300,000 shares of the company's stock in a transaction dated Friday, March 6th. The stock was acquired at an average price of $3.99 per share, with a total value of $1,197,000.00. Following the purchase, the director owned 5,331,902 shares in the company, valued at approximately $21,274,288.98. This represents a 5.96% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 1,300,006 shares of company stock worth $5,196,999 over the last 90 days.

Institutional Trading of SS Innovations International

Several large investors have recently added to or reduced their stakes in SSII. Handelsbanken Fonder AB bought a new position in SS Innovations International in the 3rd quarter valued at $714,000. JNBA Financial Advisors bought a new stake in shares of SS Innovations International during the 4th quarter valued at $498,000. Eversept Partners LP bought a new position in SS Innovations International during the fourth quarter worth about $428,000. AlphaCentric Advisors LLC bought a new stake in SS Innovations International in the fourth quarter valued at approximately $284,000. Finally, Inspire Investing LLC grew its holdings in shares of SS Innovations International by 124.4% in the 4th quarter. Inspire Investing LLC now owns 82,773 shares of the company's stock valued at $470,000 after buying an additional 45,886 shares during the period.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of SS Innovations International in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of "Sell".

SS Innovations International Stock Down 0.9%

SS Innovations International stock traded down $0.05 during mid-day trading on Tuesday, hitting $4.88. 8,855 shares of the company were exchanged, compared to its average volume of 93,325. The business has a fifty day moving average of $4.59 and a 200 day moving average of $5.86. SS Innovations International has a 1-year low of $3.02 and a 1-year high of $22.42. The company has a market capitalization of $947.51 million and a PE ratio of -81.25.

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

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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