Paragon 28 (NYSE:FNA) Sees Unusually-High Trading Volume – Here’s Why

Shares of Paragon 28, Inc. (NYSE:FNA) saw unusually-high trading volume on Tuesday . Approximately 333,255 shares were traded during mid-day trading, a decline of 45% from the previous session’s volume of 606,822 shares.The stock last traded at $10.17 and had previously closed at $10.20.

Analyst Upgrades and Downgrades

FNA has been the subject of a number of research reports. Canaccord Genuity Group reduced their price target on shares of Paragon 28 from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Piper Sandler reissued an “overweight” rating and issued a $12.00 price target (down from $15.00) on shares of Paragon 28 in a report on Friday, August 9th. Finally, Needham & Company LLC increased their price target on shares of Paragon 28 from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Paragon 28 presently has a consensus rating of “Buy” and a consensus target price of $15.60.

Paragon 28 Stock Down 1.4 %

The business’s fifty day moving average price is $6.54 and its 200 day moving average price is $7.21. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79.

Paragon 28 (NYSE:FNA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $62.30 million during the quarter, compared to the consensus estimate of $60.58 million. Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.10) EPS. On average, equities research analysts expect that Paragon 28, Inc. will post -0.66 EPS for the current year.

Institutional Investors Weigh In On Paragon 28

A number of hedge funds have recently made changes to their positions in FNA. Nisa Investment Advisors LLC increased its position in shares of Paragon 28 by 46,660.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,676 shares of the company’s stock worth $32,000 after purchasing an additional 4,666 shares in the last quarter. Levin Capital Strategies L.P. acquired a new stake in Paragon 28 in the 2nd quarter valued at about $68,000. Intech Investment Management LLC acquired a new stake in Paragon 28 in the 3rd quarter valued at about $70,000. Ballentine Partners LLC acquired a new stake in Paragon 28 in the 3rd quarter valued at about $91,000. Finally, Creative Planning acquired a new stake in Paragon 28 in the 3rd quarter valued at about $91,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

About Paragon 28

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.