Endologix, Inc. (ELGX) Sees Large Increase in Short Interest

Endologix, Inc. (NASDAQ:ELGX) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 4,800,376 shares, an increase of 39.4% from the February 15th total of 3,444,065 shares. Based on an average daily volume of 738,268 shares, the short-interest ratio is presently 6.5 days. Approximately 48.6% of the company’s shares are sold short.

Several institutional investors have recently modified their holdings of ELGX. Citigroup Inc. increased its stake in Endologix by 279.2% during the 4th quarter. Citigroup Inc. now owns 51,448 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 37,882 shares in the last quarter. Macquarie Group Ltd. bought a new stake in Endologix during the 4th quarter valued at about $46,000. Assenagon Asset Management S.A. bought a new stake in Endologix during the 4th quarter valued at about $55,000. Jane Street Group LLC increased its stake in Endologix by 54.6% during the 4th quarter. Jane Street Group LLC now owns 93,572 shares of the medical instruments supplier’s stock valued at $67,000 after purchasing an additional 33,044 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Endologix by 408.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 99,731 shares of the medical instruments supplier’s stock valued at $71,000 after purchasing an additional 80,100 shares in the last quarter. Institutional investors own 68.91% of the company’s stock.

Shares of Endologix stock opened at $6.99 on Friday. The company has a debt-to-equity ratio of 4.38, a current ratio of 1.55 and a quick ratio of 0.96. The stock has a market capitalization of $69.97 million, a P/E ratio of -0.97 and a beta of 0.54. Endologix has a 1 year low of $5.20 and a 1 year high of $67.20.

Several equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Endologix from a “hold” rating to a “sell” rating in a research report on Monday. BTIG Research reiterated a “buy” rating on shares of Endologix in a research note on Tuesday, February 26th. Finally, ValuEngine upgraded shares of Endologix from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $29.17.

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Endologix Company Profile

Endologix, Inc develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. It offers minimally-invasive endovascular repair (EVAR) products, including AFX (Anatomical Fixation) endovascular AAA system, which is a minimally invasive delivery system; VELA Proximal Endograft, which is designed for the treatment of proximal aortic neck anatomies with AFX; and the ovation abdominal stent graft system.

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