Short Interest in ClearPoint Neuro, Inc. (NASDAQ:CLPT) Drops By 38.8%

ClearPoint Neuro, Inc. (NASDAQ:CLPT) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 857,400 shares, a decrease of 38.8% from the August 15th total of 1,400,000 shares. Based on an average daily volume of 353,800 shares, the short-interest ratio is currently 2.4 days. Currently, 5.0% of the company’s shares are short sold.

CLPT stock opened at $19.62 on Friday. The company has a current ratio of 15.62, a quick ratio of 14.81 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $438.84 million, a PE ratio of -40.87 and a beta of 1.00. ClearPoint Neuro has a 12-month low of $4.87 and a 12-month high of $31.29. The business’s fifty day moving average price is $18.94 and its 200 day moving average price is $19.30.

ClearPoint Neuro (NASDAQ:CLPT) last issued its quarterly earnings results on Monday, August 9th. The company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.03). ClearPoint Neuro had a negative return on equity of 39.58% and a negative net margin of 63.68%. The company had revenue of $3.41 million for the quarter, compared to analysts’ expectations of $3.47 million.

Separately, B. Riley reiterated a “buy” rating on shares of ClearPoint Neuro in a report on Wednesday, August 11th.

In other news, CEO Joseph Michael Burnett sold 25,000 shares of the company’s stock in a transaction on Monday, June 21st. The stock was sold at an average price of $18.57, for a total value of $464,250.00. Following the transaction, the chief executive officer now owns 237,366 shares of the company’s stock, valued at approximately $4,407,886.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.49% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. purchased a new stake in ClearPoint Neuro during the 2nd quarter worth about $28,000. Advisory Services Network LLC purchased a new stake in ClearPoint Neuro during the 2nd quarter worth about $36,000. Legal & General Group Plc purchased a new stake in ClearPoint Neuro during the 2nd quarter worth about $38,000. The PNC Financial Services Group Inc. purchased a new stake in ClearPoint Neuro during the 1st quarter worth about $42,000. Finally, Wells Fargo & Company MN increased its holdings in ClearPoint Neuro by 522.6% during the 2nd quarter. Wells Fargo & Company MN now owns 3,026 shares of the company’s stock worth $58,000 after purchasing an additional 2,540 shares during the period. Institutional investors own 23.23% of the company’s stock.

ClearPoint Neuro Company Profile

Clearpoint Neuro, Inc engages in the development and commercialization of platforms for performing minimally invasive surgical procedures in the brain and heart. The firm conducts its procedures under direct, intra-procedural magnetic resonance imaging guidance. Its product platform comprises of ClearPoint system and ClearTrace system.

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