SS Innovations International (NASDAQ:SSII) Trading 7.3% Higher - Here's Why

Key Points

• SS Innovations International shares rose 7.3% to $3.96 in mid-day trading, although volume was 77% below the average session level.
• Analyst sentiment remains negative: SSII has an overall “Sell” rating, despite one upgrade to “Hold,” while Loop Capital set a $7.00 price target.
• The company reported a quarterly loss of $0.01 per share on $13.94 million in revenue, alongside a negative net margin of 20.69% and negative return on equity of 23%.

SS Innovations International, Inc. (NASDAQ:SSII - Get Free Report)'s share price was up 7.3% during mid-day trading on Thursday . The company traded as high as $3.89 and last traded at $3.96. Approximately 16,811 shares changed hands during trading, a decline of 77% from the average session volume of 73,263 shares. The stock had previously closed at $3.69.

Analyst Ratings Changes

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

SS Innovations International Price Performance

The stock's 50 day moving average is $3.66 and its two-hundred day moving average is $4.16. The stock has a market capitalization of $768.70 million, a PE ratio of -77.00 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) earnings per share (EPS) for the quarter. SS Innovations International had a negative return on equity of 23.00% and a negative net margin of 20.69%.The firm had revenue of $13.94 million during the quarter.

Hedge Funds Weigh In On SS Innovations International

A number of institutional investors and hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB increased its holdings in SS Innovations International by 9.3% in the fourth quarter. Handelsbanken Fonder AB now owns 120,000 shares of the company's stock valued at $682,000 after buying an additional 10,198 shares during the last quarter. Eversept Partners LP increased its holdings in shares of SS Innovations International by 46.2% in the 1st quarter. Eversept Partners LP now owns 110,157 shares of the company's stock valued at $551,000 after acquiring an additional 34,799 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of SS Innovations International by 26.4% in the 1st quarter. Inspire Investing LLC now owns 104,624 shares of the company's stock valued at $523,000 after acquiring an additional 21,851 shares during the last quarter. JNBA Financial Advisors acquired a new stake in shares of SS Innovations International during the 4th quarter worth about $498,000. Finally, AlphaCentric Advisors LLC purchased a new stake in SS Innovations International during the fourth quarter worth approximately $284,000.

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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