Outset Medical, Inc. (NASDAQ:OM) Sees Significant Growth in Short Interest

Outset Medical, Inc. (NASDAQ:OM) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 9,080,000 shares, an increase of 40.6% from the January 15th total of 6,460,000 shares. Based on an average daily trading volume, of 1,090,000 shares, the days-to-cover ratio is presently 8.3 days.

Analysts Set New Price Targets

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $3.00 target price on shares of Outset Medical in a research note on Tuesday, January 7th.

Outset Medical Stock Up 9.6 %

Shares of OM traded up $0.08 during trading hours on Friday, hitting $0.90. 2,687,766 shares of the company were exchanged, compared to its average volume of 951,179. The company has a market cap of $48.27 million, a PE ratio of -0.33 and a beta of 2.01. The firm’s 50 day moving average is $0.98 and its 200-day moving average is $0.88. Outset Medical has a 52 week low of $0.44 and a 52 week high of $5.22. The company has a debt-to-equity ratio of 4.12, a quick ratio of 5.04 and a current ratio of 6.49.

Insiders Place Their Bets

In other Outset Medical news, CFO Nabeel Ahmed sold 34,288 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $0.80, for a total value of $27,430.40. Following the transaction, the chief financial officer now owns 258,869 shares in the company, valued at $207,095.20. The trade was a 11.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Leslie Trigg sold 65,236 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $0.80, for a total value of $52,188.80. Following the completion of the transaction, the chief executive officer now owns 895,580 shares in the company, valued at $716,464. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 267,790 shares of company stock worth $222,243. 4.10% of the stock is owned by insiders.

Institutional Trading of Outset Medical

Large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP lifted its position in shares of Outset Medical by 924.7% during the 3rd quarter. GSA Capital Partners LLP now owns 1,111,612 shares of the company’s stock worth $753,000 after purchasing an additional 1,003,135 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Outset Medical by 1,167.7% during the 4th quarter. Renaissance Technologies LLC now owns 686,748 shares of the company’s stock worth $762,000 after purchasing an additional 632,574 shares during the last quarter. Birchview Capital LP lifted its position in shares of Outset Medical by 3,587.7% during the 4th quarter. Birchview Capital LP now owns 368,766 shares of the company’s stock worth $409,000 after purchasing an additional 358,766 shares during the last quarter. Huntington National Bank lifted its position in shares of Outset Medical by 46.2% during the 3rd quarter. Huntington National Bank now owns 63,306 shares of the company’s stock worth $43,000 after purchasing an additional 20,000 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Outset Medical by 79.2% during the 3rd quarter. National Bank of Canada FI now owns 52,407 shares of the company’s stock worth $35,000 after purchasing an additional 23,164 shares during the last quarter.

About Outset Medical

Outset Medical, Inc, a medical technology company, engages in the development of a hemodialysis system for hemodialysis in the United States. The company offers Tablo Hemodialysis System, a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings; and manufactures, supports, and distributes for Tablo console, Tablo cartridge, and other consumables.