SS Innovations International (NASDAQ:SSII) Shares Gap Down - Here's Why

Key Points

• SS Innovations International shares gapped down ahead of Tuesday’s trading, opening at $3.61 after closing at $3.75 and later trading around $3.685, down about 2.7%.
• Analyst sentiment remains weak overall: Weiss Ratings reiterated a sell rating, while Wall Street Zen upgraded the stock to hold; MarketBeat data shows an average rating of Sell with a $7.00 price target.
• The company’s latest earnings showed losses and weak profitability, with EPS of -$0.02 on $11.1 million in revenue, a negative return on equity of 23.00%, and a negative net margin of 20.69%.

SS Innovations International, Inc. (NASDAQ:SSII - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $3.75, but opened at $3.61. SS Innovations International shares last traded at $3.6850, with a volume of 13,747 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SSII shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of SS Innovations International in a research note on Friday. Wall Street Zen raised shares of SS Innovations International from a "sell" rating to a "hold" rating in a research note on Sunday, June 28th. Finally, Loop Capital set a $7.00 price target on shares of SS Innovations International in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of "Sell" and an average target price of $7.00.

SS Innovations International Trading Down 2.7%

The business's 50 day moving average price is $3.73 and its two-hundred day moving average price is $4.38. The stock has a market cap of $729.87 million, a P/E ratio of -72.94 and a beta of -1.96.

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

Institutional Investors Weigh In On SS Innovations International

Several hedge funds have recently bought and sold shares of SSII. PNC Financial Services Group Inc. purchased a new position in shares of SS Innovations International during the third quarter valued at approximately $56,000. Envestnet Asset Management Inc. bought a new position in SS Innovations International during the 3rd quarter valued at approximately $71,000. Jane Street Group LLC purchased a new position in SS Innovations International during the fourth quarter valued at $63,000. IFC & Insurance Marketing Inc. purchased a new position in SS Innovations International during the fourth quarter valued at $64,000. Finally, Goldman Sachs Group Inc. bought a new stake in SS Innovations International in the fourth quarter worth $68,000.

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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