Short Interest in ClearPoint Neuro, Inc. (NASDAQ:CLPT) Declines By 8.6%

ClearPoint Neuro, Inc. (NASDAQ:CLPT) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 1,280,000 shares, a decline of 8.6% from the March 15th total of 1,400,000 shares. Based on an average trading volume of 152,300 shares, the short-interest ratio is presently 8.4 days.

ClearPoint Neuro Stock Performance

Shares of CLPT stock traded down $0.03 during trading on Tuesday, reaching $5.58. The company had a trading volume of 113,266 shares, compared to its average volume of 150,091. The company has a market capitalization of $151.05 million, a PE ratio of -6.13 and a beta of 0.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.87 and a quick ratio of 3.80. The firm’s 50 day simple moving average is $6.76 and its two-hundred day simple moving average is $6.32. ClearPoint Neuro has a one year low of $4.05 and a one year high of $10.80.

ClearPoint Neuro (NASDAQ:CLPT) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.03. The company had revenue of $6.81 million for the quarter, compared to analyst estimates of $6.40 million. ClearPoint Neuro had a negative net margin of 92.21% and a negative return on equity of 83.94%. Sell-side analysts forecast that ClearPoint Neuro will post -0.75 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reaffirmed a “buy” rating and issued a $9.00 price objective (up previously from $8.00) on shares of ClearPoint Neuro in a research note on Wednesday, March 13th.

Institutional Investors Weigh In On ClearPoint Neuro

Hedge funds have recently bought and sold shares of the company. State of Wyoming bought a new stake in ClearPoint Neuro during the 4th quarter valued at approximately $25,000. Cubist Systematic Strategies LLC bought a new stake in shares of ClearPoint Neuro in the first quarter valued at approximately $38,000. Royal Bank of Canada grew its stake in shares of ClearPoint Neuro by 3,038.5% in the second quarter. Royal Bank of Canada now owns 5,461 shares of the company’s stock worth $40,000 after acquiring an additional 5,287 shares during the last quarter. California State Teachers Retirement System bought a new position in ClearPoint Neuro during the second quarter worth $55,000. Finally, Advisor Group Holdings Inc. raised its stake in ClearPoint Neuro by 131.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,153 shares of the company’s stock valued at $66,000 after purchasing an additional 1,223 shares during the last quarter. 30.08% of the stock is currently owned by institutional investors.

ClearPoint Neuro Company Profile

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.