Milestone Scientific Inc. (NYSEAMERICAN:MLSS) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 578,400 shares, an increase of 141.0% from the September 30th total of 240,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average trading volume of 336,400 shares, the short-interest ratio is currently 1.7 days.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC grew its stake in Milestone Scientific by 16.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 110,789 shares of the medical instruments supplier’s stock valued at $91,000 after acquiring an additional 15,667 shares during the last quarter. Private Capital Group LLC grew its stake in Milestone Scientific by 678.5% in the 2nd quarter. Private Capital Group LLC now owns 31,139 shares of the medical instruments supplier’s stock valued at $25,000 after acquiring an additional 27,139 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Milestone Scientific by 36.4% in the 2nd quarter. Vanguard Group Inc. now owns 134,487 shares of the medical instruments supplier’s stock valued at $48,000 after acquiring an additional 35,886 shares during the last quarter.
Shares of NYSEAMERICAN MLSS opened at $1.07 on Thursday. Milestone Scientific has a 52 week low of $0.26 and a 52 week high of $1.41.
Separately, Maxim Group reissued a “buy” rating and issued a $2.00 price objective on shares of Milestone Scientific in a research note on Friday, October 18th.
About Milestone Scientific
Milestone Scientific, Inc develops computer-controlled anesthetic delivery devices for the medical and dental markets in the United States and internationally. The company operates through dental and medical segments. Its products include CompuDent System used to control the flow rate of the anesthesia during the injection that allows virtually painless injections for various dental procedures, including routine fillings, implants, root canals, and crowns; and CompuFlo, a computer-controlled drug delivery system for the painless delivery of drugs, anesthetics, and other medicaments, as well as for the aspiration of bodily fluids or previously injected substances.
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