Paragon 28, Inc. (NYSE:FNA) Short Interest Update

Paragon 28, Inc. (NYSE:FNAGet Free Report) was the target of a large increase in short interest in May. As of May 31st, there was short interest totalling 4,650,000 shares, an increase of 7.1% from the May 15th total of 4,340,000 shares. Based on an average daily trading volume, of 649,900 shares, the short-interest ratio is presently 7.2 days. Approximately 12.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stephens reissued an “overweight” rating and issued a $18.00 target price on shares of Paragon 28 in a report on Friday, April 5th. Needham & Company LLC lowered their target price on Paragon 28 from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Piper Sandler reissued an “overweight” rating and issued a $15.00 target price (down from $18.00) on shares of Paragon 28 in a research note on Thursday, May 9th. Finally, JMP Securities lowered their target price on Paragon 28 from $23.00 to $20.00 and set a “market outperform” rating for the company in a research note on Thursday, May 9th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Paragon 28 presently has a consensus rating of “Buy” and an average target price of $16.75.

Get Our Latest Research Report on FNA

Paragon 28 Trading Down 5.8 %

Shares of NYSE:FNA traded down $0.35 during midday trading on Wednesday, hitting $5.71. The company had a trading volume of 710,822 shares, compared to its average volume of 795,686. Paragon 28 has a 12 month low of $5.60 and a 12 month high of $18.59. The company has a current ratio of 3.57, a quick ratio of 1.78 and a debt-to-equity ratio of 0.67. The stock has a market cap of $473.65 million, a price-to-earnings ratio of -8.78 and a beta of 1.02. The firm has a fifty day simple moving average of $8.39 and a 200 day simple moving average of $10.64.

Paragon 28 (NYSE:FNAGet Free Report) last posted its earnings results on Wednesday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The business had revenue of $61.08 million for the quarter. Paragon 28 had a negative return on equity of 27.72% and a negative net margin of 24.45%. On average, analysts predict that Paragon 28 will post -0.58 EPS for the current year.

Institutional Trading of Paragon 28

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Paragon 28 by 12.2% during the third quarter. Vanguard Group Inc. now owns 2,001,692 shares of the company’s stock worth $25,121,000 after purchasing an additional 217,246 shares during the last quarter. First Light Asset Management LLC lifted its position in shares of Paragon 28 by 39.4% during the 4th quarter. First Light Asset Management LLC now owns 3,817,794 shares of the company’s stock worth $47,455,000 after buying an additional 1,079,916 shares in the last quarter. MVM Partners LLC bought a new stake in shares of Paragon 28 in the 4th quarter worth approximately $134,879,000. Braidwell LP grew its stake in Paragon 28 by 57.4% in the 3rd quarter. Braidwell LP now owns 3,361,824 shares of the company’s stock valued at $42,191,000 after buying an additional 1,225,702 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Paragon 28 by 27.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 307,759 shares of the company’s stock valued at $3,862,000 after purchasing an additional 66,473 shares in the last quarter. Institutional investors and hedge funds own 63.57% of the company’s stock.

Paragon 28 Company Profile

(Get Free Report)

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.

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