Xtant Medical Holdings, Inc. (NYSEAMERICAN:XTNT) Short Interest Down 67.8% in April

Key Points

• Short interest down 67.8% — short interest fell to 12,780 shares as of April 15, leaving 0.0% of shares shorted and a days-to-cover of 0.1.
• Recent results and trading: Xtant reported Q1 EPS $0.03 on revenue of $32.36 million (above estimates), and the stock opened at $0.52 with a market cap of $73.41 million and a 12‑month range of $0.39–$0.95.
• Institutional ownership and analyst view: institutions own about 69.33% of XTNT with notable position increases from Renaissance, Vanguard and Nantahala, and analysts have a consensus "Buy" rating with a $1.00 target.

Xtant Medical Holdings, Inc. (NYSEAMERICAN:XTNT - Get Free Report) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totaling 12,780 shares, a decline of 67.8% from the March 31st total of 39,674 shares. Currently, 0.0% of the company's shares are short sold. Based on an average daily volume of 221,550 shares, the days-to-cover ratio is currently 0.1 days.

Xtant Medical Stock Up 2.8%

Shares of NYSEAMERICAN:XTNT opened at $0.52 on Friday. The stock has a market cap of $73.41 million, a price-to-earnings ratio of 17.48 and a beta of -0.16. The company has a quick ratio of 1.63, a current ratio of 2.65 and a debt-to-equity ratio of 0.22. Xtant Medical has a 12-month low of $0.39 and a 12-month high of $0.95. The business's 50 day moving average is $0.56 and its 200 day moving average is $0.65.

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

Wall Street Analyst Weigh In

XTNT has been the subject of a number of research reports. Craig Hallum reissued a "buy" rating on shares of Xtant Medical in a research note on Wednesday, March 18th. BTIG Research reduced their price objective on Xtant Medical from $1.50 to $1.00 and set a "buy" rating for the company in a research note on Tuesday, March 31st. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $1.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted 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 valued at $721,000 after buying an additional 205,945 shares during the last quarter. Vanguard Group Inc. boosted its position in Xtant Medical by 4.6% in 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. Nantahala Capital Management LLC boosted its position in Xtant Medical by 500.3% in 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. Wiregrass Investment Management LLC purchased a new position in Xtant Medical in the fourth quarter worth $81,000. Finally, Tradition Wealth Management LLC purchased a new position in Xtant Medical in the fourth quarter worth $79,000. Hedge funds and other institutional investors own 69.33% of the company's stock.

About Xtant Medical

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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