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

Key Points

• Short interest fell sharply: SS Innovations International’s short interest dropped 39.7% to 79,040 shares as of July 31, equivalent to 0.9 days to cover and 0.0% of shares outstanding.
• Operating performance remains weak: The company reported a quarterly loss of $0.01 per share on $13.94 million in revenue, with negative net margin and return on equity. Shares recently traded at $3.75, well below their 52-week high of $10.00.
• Analysts remain bearish: The consensus rating is “Sell” with a $7.00 target price, despite some institutional investors increasing their positions during recent quarters.

SS Innovations International, Inc. (NASDAQ:SSII - Get Free Report) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 79,040 shares, a drop of 39.7% from the July 15th total of 131,067 shares. Based on an average daily volume of 89,917 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.0% of the shares of the company are short sold.

SS Innovations International Price Performance

Shares of SS Innovations International stock traded down $0.01 during trading on Tuesday, hitting $3.75. The stock had a trading volume of 1,937 shares, compared to its average volume of 72,362. The business has a fifty day moving average of $3.67 and a two-hundred day moving average of $4.13. SS Innovations International has a fifty-two week low of $3.11 and a fifty-two week high of $10.00. The firm has a market cap of $751.44 million, a P/E ratio of -62.50 and a beta of -1.92.

SS Innovations International (NASDAQ:SSII - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.01) EPS for the quarter. SS Innovations International had a negative return on equity of 26.77% and a negative net margin of 23.73%.The business had revenue of $13.94 million during the quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded SS Innovations International from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. Weiss Ratings reiterated a "sell (e+)" rating on shares of SS Innovations International in a research report on Friday, July 17th. Finally, Loop Capital set a $7.00 price target on SS Innovations International in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell" and a consensus target price of $7.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB lifted its position in shares of SS Innovations International by 9.3% during the 4th quarter. Handelsbanken Fonder AB now owns 120,000 shares of the company's stock valued at $682,000 after acquiring an additional 10,198 shares during the last quarter. Eversept Partners LP raised its position in shares of SS Innovations International by 46.2% during the first quarter. Eversept Partners LP now owns 110,157 shares of the company's stock worth $551,000 after purchasing an additional 34,799 shares during the period. Inspire Investing LLC lifted its holdings in shares of SS Innovations International by 26.4% during the first quarter. Inspire Investing LLC now owns 104,624 shares of the company's stock valued at $523,000 after purchasing an additional 21,851 shares during the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of SS Innovations International during the fourth quarter valued at $284,000. Finally, Geode Capital Management LLC acquired a new position in shares of SS Innovations International in the 2nd quarter valued at $122,000.

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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