Short Interest in Pro-Dex Inc (NASDAQ:PDEX) Declines By 17.4%

Pro-Dex Inc (NASDAQ:PDEX) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 10,000 shares, a drop of 17.4% from the July 31st total of 12,100 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average trading volume of 16,500 shares, the short-interest ratio is presently 0.6 days.

Shares of PDEX stock traded up $0.25 on Friday, reaching $15.40. 49,628 shares of the company’s stock were exchanged, compared to its average volume of 25,807. The company has a current ratio of 5.88, a quick ratio of 4.60 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $14.06 and its 200 day simple moving average is $14.00. The stock has a market capitalization of $62.39 million, a PE ratio of 19.20 and a beta of 1.49. Pro-Dex has a 52 week low of $8.01 and a 52 week high of $17.95.

A number of hedge funds and other institutional investors have recently modified their holdings of PDEX. Deutsche Bank AG raised its position in Pro-Dex by 146.7% during the 4th quarter. Deutsche Bank AG now owns 42,606 shares of the medical instruments supplier’s stock valued at $514,000 after purchasing an additional 25,333 shares in the last quarter. Acadian Asset Management LLC raised its position in Pro-Dex by 82.2% during the 1st quarter. Acadian Asset Management LLC now owns 75,253 shares of the medical instruments supplier’s stock valued at $1,089,000 after purchasing an additional 33,940 shares in the last quarter. Alambic Investment Management L.P. raised its position in Pro-Dex by 6.2% during the 1st quarter. Alambic Investment Management L.P. now owns 73,583 shares of the medical instruments supplier’s stock valued at $1,065,000 after purchasing an additional 4,291 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Pro-Dex during the 1st quarter valued at $242,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Pro-Dex during the 2nd quarter valued at $389,000. 15.29% of the stock is owned by institutional investors and hedge funds.



Separately, ValuEngine lowered Pro-Dex from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th.

Pro-Dex Company Profile

Pro-Dex, Inc, together with its subsidiaries, designs, develops, and manufactures powered surgical instruments, dental instruments, and rotary air motors worldwide. It also manufactures plastic injection molds for various industries; and shavers and machined parts. In addition, it provides engineering, and quality and regulatory consulting services.

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