Xtant Medical Holdings, Inc. (NYSEAMERICAN:XTNT) Sees Large Growth in Short Interest

Key Points

• Short interest jumped 71.2% in March to 39,674 shares as of March 31, though the short-interest ratio is just 0.2 days and roughly 0.0% of shares are reported sold short.
• Nantahala Capital boosted its stake to 68,394,000 shares (a 500.3% increase, adding 57 million shares), and overall hedge funds/institutions now own about 69.33% of the stock.
• The stock carries a consensus "Buy" rating with a $1.00 price target; Xtant reported $0.03 EPS and $32.36M in revenue for the quarter (above estimates), while shares trade around $0.48 with a market cap of $66.77M.

Xtant Medical Holdings, Inc. (NYSEAMERICAN:XTNT - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 39,674 shares, a growth of 71.2% from the March 15th total of 23,175 shares. Based on an average daily volume of 168,599 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Craig Hallum reissued a "buy" rating on shares of Xtant Medical in a report on Wednesday, March 18th. BTIG Research reduced their target price on shares of Xtant Medical from $1.50 to $1.00 and set a "buy" rating for the company in a report on Tuesday, March 31st. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Xtant Medical presently has a consensus rating of "Buy" and a consensus price target of $1.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nantahala Capital Management LLC lifted its position in shares of Xtant Medical by 500.3% during the second quarter. Nantahala Capital Management LLC now owns 68,394,000 shares of the medical device company's stock worth $50,543,000 after purchasing an additional 57,000,000 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Xtant Medical by 4.6% during the third quarter. Vanguard Group Inc. now owns 2,355,671 shares of the medical device company's stock worth $1,529,000 after purchasing an additional 104,159 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Xtant Medical by 28.8% during the fourth quarter. Renaissance Technologies LLC now owns 919,860 shares of the medical device company's stock worth $721,000 after purchasing an additional 205,945 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Xtant Medical during the fourth quarter worth $284,000. Finally, Nano Cap New Millennium Growth Fund L P bought a new stake in shares of Xtant Medical during the fourth quarter worth $220,000. 69.33% of the stock is owned by hedge funds and other institutional investors.

Xtant Medical Price Performance

Shares of XTNT stock traded down $0.00 on Monday, reaching $0.48. The company's stock had a trading volume of 348,879 shares, compared to its average volume of 180,367. The stock's fifty day simple moving average is $0.57 and its 200-day simple moving average is $0.66. Xtant Medical has a 1 year low of $0.39 and a 1 year high of $0.95. The company has a current ratio of 2.65, a quick ratio of 1.63 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $66.77 million, a price-to-earnings ratio of 15.90 and a beta of -0.16.

Xtant Medical (NYSEAMERICAN:XTNT - Get Free Report) last posted its earnings results on Tuesday, March 31st. The medical device company reported $0.03 earnings per share for the quarter. The firm had revenue of $32.36 million during the quarter, compared to analyst estimates of $30.75 million. Xtant Medical had a net margin of 3.71% and a return on equity of 10.27%.

Xtant Medical Company Profile

Xtant Medical, Inc is a medical technology company focused on the development, manufacturing and distribution of bone graft, spine biologics and related implantable medical devices. The company's product portfolio is designed to address critical needs in spinal fusion, orthopedics and trauma surgery by providing a range of solutions that promote bone growth, structural support and patient recovery.

The company's offerings include an array of bone graft substitutes – such as demineralized bone matrix putties and fibers – interbody fusion devices, spinal fixation systems and biologic agents.

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