In August, there was a significant decrease in the number of short positions that were held in ClearPoint Neuro, Inc. (NASDAQ: CLPT). As of August 15th, 1,060,000 shares had been borrowed, which is a decrease of 15.2% when compared to the 1,250,000 shares that had been borrowed the day before.
As a result, it has been determined that there is sufficient short interest to cover 5.5 trading days’ worth of average daily volume, which is based on the fact that 192,700 shares are traded on average each trading day. When trading started on Tuesday, one share of CLPT was going for $12.83. The company has a market value of $314.18 million despite having a price-to-earnings ratio of -17.82.
Additionally, the value of its beta coefficient is 1.09. The current ratio to quick ratio is 10.33, the current ratio to quick ratio is 9.12, and the debt to equity ratio is 0.23.
Moving averages for the past 50 days come in at $13.75 for the company, and the moving averages for the past 200 days come in at $11.02 each. In the past year, the price of ClearPoint Neuro has fluctuated between a high of $20.55 and a low of the same. On May 9th, as a separate piece of news unfolded, B. Riley reiterated the “buy” rating they had previously assigned to the shares of ClearPoint Neuro. Joseph Michael Burnett, Chief Executive Officer of ClearPoint Neuro, sold 18,867 shares of the company’s stock on August 15th, according to news associated with ClearPoint Neuro. The shares acquired cost a total of $303,192.69, which works out to a price of $16.07 per share on an average basis.
After the completion of the transaction, the CEO now owns a total of 262,095 shares of the company. Based on the current market price, these shares are worth $4,211,866.65. The Securities and Exchange Commission (SEC) kept a legal file that is accessible online and contains information about the transaction. This information can be viewed by anyone interested. Company insiders currently hold a stake in the company equal to 4.94% of its total shares.
Only very recently, several institutional investors and hedge funds adjusted the percentage of the company that was held in each of their portfolios. Vanguard Group Inc. increased its stake in ClearPoint Neuro by 16.7 percent during the first three months of 2018. After purchasing an additional 154,867 shares during the most recent quarter, The Vanguard Group Inc. now has 1,080,656 shares of the company’s stock, valued at a total of $11,249,000. It brings the total number of shares that The Vanguard Group Inc. During the second quarter of the current fiscal year, Brown Advisory Inc. boosted the percentage of its investment in ClearPoint Neuro by 155.5%. Brown Advisory Inc. now holds 323,194 shares of the company’s stock, valued at a combined total of $4,218,000, after purchasing an additional 196,715 shares during the quarter. It brings the company’s total number of shares to a total of 323,194 shares.
During the first three months of 2018, State Street Corporation’s holdings in ClearPoint Neuro saw a 0.7% growth due to the company’s purchases.
Since the end of the preceding quarter, State Street Corporation has increased its holdings by purchasing an additional 2,125 shares, bringing the total number of shares it owns to 303,335, which are currently valued at $3,158,000. In addition, Millennium Management LLC made a fresh investment of approximately $2,487,000 in ClearPoint Neuro during the second quarter. This investment was made possible because of ClearPoint Neuro’s success. Not to be outdone, Taylor Frigon Capital Management LLC, during the first quarter, boosted the amount of ClearPoint Neuro stock that is owned by 3.5 percent, making it the last point of this discussion. The current value of Taylor Frigon Capital Management LLC’s holdings in the company, which come to a total of 181,329 shares, is $1,888,000. It is a direct consequence of the corporation purchasing 6,176 extra shares during the period above.
To the tune of 25.27 percent of the company’s shares, institutional investors are the owners of those shares. An Overview of the ClearPoint Neuro System’s Background The production of medical devices is ClearPoint Neuro, Inc.’s core business, which is located in the United States of America and employs a lot of people.
The company researches, designs, and manufactures products that enable neurosurgeons to execute minimally invasive brain surgery with the support of direct as well as intra-procedural MRI guidance.
These items can be purchased from the company. It offers an MRI suite, a ClearPoint Neuro Navigation System, and a ClearPoint System for inserting deep brain stimulation electrodes and biopsy needles, as well as the infusion of drugs and laser catheters into the brain. In addition, it has a ClearPoint System for the removal of deep brain stimulation electrodes. It also has a ClearPoint System that is used to take off electrodes that are used for deep brain stimulation.