Apyx Medical Corp (NASDAQ:APYX) Sees Significant Drop in Short Interest

Apyx Medical Corp (NASDAQ:APYX) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totalling 1,151,000 shares, a drop of 11.3% from the June 30th total of 1,297,800 shares. Based on an average daily trading volume, of 179,700 shares, the days-to-cover ratio is presently 6.4 days. Currently, 4.0% of the company’s stock are sold short.

A number of research firms have recently weighed in on APYX. Zacks Investment Research downgraded shares of Apyx Medical from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. ValuEngine raised shares of Apyx Medical from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th. Piper Jaffray Companies decreased their price target on shares of Apyx Medical to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Finally, TheStreet downgraded shares of Apyx Medical from a “c-” rating to a “d” rating in a research report on Monday, May 20th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $7.88.

Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can grew its position in shares of Apyx Medical by 277.9% during the second quarter. Bank of Montreal Can now owns 3,779 shares of the company’s stock worth $26,000 after buying an additional 2,779 shares in the last quarter. Advisory Services Network LLC lifted its stake in Apyx Medical by 66.7% during the second quarter. Advisory Services Network LLC now owns 5,000 shares of the company’s stock worth $34,000 after purchasing an additional 2,000 shares during the last quarter. Rehmann Capital Advisory Group bought a new position in Apyx Medical during the first quarter worth $61,000. Menta Capital LLC bought a new position in Apyx Medical during the first quarter worth $65,000. Finally, Sheaff Brock Investment Advisors LLC bought a new position in Apyx Medical during the first quarter worth $66,000. 45.96% of the stock is owned by institutional investors and hedge funds.

APYX stock opened at $7.30 on Friday. Apyx Medical has a twelve month low of $3.55 and a twelve month high of $8.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.38 and a quick ratio of 9.57. The firm has a market capitalization of $257.46 million, a P/E ratio of -25.17 and a beta of 0.13. The stock’s 50 day moving average is $6.97.

Apyx Medical (NASDAQ:APYX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. Apyx Medical had a net margin of 255.57% and a negative return on equity of 14.88%. The business had revenue of $6.57 million during the quarter, compared to the consensus estimate of $5.85 million. During the same quarter last year, the company earned ($0.09) earnings per share. The business’s quarterly revenue was up 78.0% compared to the same quarter last year. On average, research analysts forecast that Apyx Medical will post -0.66 EPS for the current fiscal year.

About Apyx Medical

Apyx Medical Corporation, a medical technology company, manufactures and sells medical devices in the cosmetic and surgical markets worldwide. It operates through two segments, Advanced Energy and original equipment manufacturing (OEM). The company develops J-Plasma, a patented plasma-based surgical product for cutting, coagulation, and ablation of soft tissue.

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