Profound Medical Corp. (NASDAQ:PROF) Sees Large Increase in Short Interest

Profound Medical Corp. (NASDAQ:PROF) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 474,700 shares, a growth of 23.9% from the February 13th total of 383,200 shares. Based on an average daily volume of 90,300 shares, the days-to-cover ratio is currently 5.3 days. Approximately 1.6% of the company’s shares are sold short.

Profound Medical Stock Up 1.9 %

Shares of NASDAQ PROF opened at $6.89 on Thursday. Profound Medical has a 1 year low of $5.63 and a 1 year high of $11.42. The firm has a 50-day simple moving average of $6.90 and a two-hundred day simple moving average of $7.45. The company has a market cap of $206.98 million, a P/E ratio of -5.14 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.12 and a quick ratio of 5.16.

Profound Medical (NASDAQ:PROF) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.11. Profound Medical had a negative return on equity of 85.22% and a negative net margin of 349.41%. The firm had revenue of $4.18 million during the quarter, compared to analyst estimates of $5.92 million. Research analysts anticipate that Profound Medical will post -1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PROF. Stonepine Capital Management LLC purchased a new stake in Profound Medical in the 4th quarter valued at about $1,502,000. Maven Securities LTD bought a new position in Profound Medical in the fourth quarter worth approximately $376,000. Letko Brosseau & Associates Inc. increased its holdings in Profound Medical by 1.0% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 1,211,150 shares of the company’s stock worth $8,689,000 after purchasing an additional 12,375 shares during the period. Bleichroeder LP raised its position in Profound Medical by 37.5% during the 4th quarter. Bleichroeder LP now owns 183,333 shares of the company’s stock valued at $1,377,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Profound Medical in the 4th quarter worth $1,202,000. Hedge funds and other institutional investors own 47.86% of the company’s stock.

Profound Medical Company Profile

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.