Profound Medical Corp. (NASDAQ:PROF) Short Interest Up 23.9% in February

Profound Medical Corp. (NASDAQ:PROF) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 474,700 shares, a growth of 23.9% from the February 13th total of 383,200 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 90,300 shares, the days-to-cover ratio is currently 5.3 days.

Profound Medical Trading Down 3.8 %

NASDAQ PROF opened at $6.55 on Wednesday. The stock has a 50-day simple moving average of $6.92 and a 200 day simple moving average of $7.45. The company has a market capitalization of $196.73 million, a PE ratio of -4.63 and a beta of 0.78. The company has a current ratio of 6.12, a quick ratio of 5.16 and a debt-to-equity ratio of 0.11. Profound Medical has a 12 month low of $5.63 and a 12 month high of $11.42.

Profound Medical (NASDAQ:PROF) last posted its earnings results on Thursday, March 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.11. Profound Medical had a negative return on equity of 85.22% and a negative net margin of 349.41%. The firm had revenue of $4.18 million during the quarter, compared to analysts’ expectations of $5.92 million. Research analysts forecast that Profound Medical will post -1.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FIL Ltd grew its stake in Profound Medical by 16.9% in the fourth quarter. FIL Ltd now owns 1,795,000 shares of the company’s stock valued at $13,486,000 after acquiring an additional 260,000 shares during the period. Gagnon Securities LLC boosted its position in shares of Profound Medical by 12.6% during the fourth quarter. Gagnon Securities LLC now owns 1,652,531 shares of the company’s stock worth $12,411,000 after buying an additional 185,284 shares during the period. Letko Brosseau & Associates Inc. boosted its position in shares of Profound Medical by 1.0% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 1,211,150 shares of the company’s stock worth $8,689,000 after buying an additional 12,375 shares during the period. Timelo Investment Management Inc. boosted its position in shares of Profound Medical by 21.3% during the fourth quarter. Timelo Investment Management Inc. now owns 911,761 shares of the company’s stock worth $6,847,000 after buying an additional 159,954 shares during the period. Finally, Gagnon Advisors LLC boosted its position in shares of Profound Medical by 20.0% during the fourth quarter. Gagnon Advisors LLC now owns 896,671 shares of the company’s stock worth $6,734,000 after buying an additional 149,445 shares during the period. 47.86% of the stock is owned by institutional investors and hedge funds.

Profound Medical Company Profile

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.