Edap Tms (NASDAQ:EDAP) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened
Edap Tms (NASDAQ:EDAP) stock price crossed above its 200-day moving average, trading as high as $2.34. The stock has a consensus 'Hold' rating with a price target of $8.50. Recent earnings showed a smaller-than-expected loss, and institutional investors have been adjusting their positions. The company focuses on minimally invasive medical devices for urological diseases.
Edap Tms S.A. (NASDAQ:EDAP - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.93 and traded as high as $2.34. Edap Tms shares last traded at $2.30, with a volume of 11,795 shares changing hands.
Analyst Ratings Changes
A number of brokerages have weighed in on EDAP. Weiss Ratings reiterated a "sell (e+)" rating on shares of Edap Tms in a research note on Monday. Jefferies Financial Group reissued a "hold" rating and issued a $2.00 price objective on shares of Edap Tms in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Edap Tms has a consensus rating of "Hold" and a consensus price target of $8.50.
Get Our Latest Analysis on Edap Tms
Edap Tms Price Performance
The company has a debt-to-equity ratio of 0.04, a current ratio of 1.41 and a quick ratio of 0.97. The company has a 50-day simple moving average of $2.24 and a 200-day simple moving average of $1.93. The stock has a market cap of $86.00 million, a PE ratio of -4.04 and a beta of -0.15.
Edap Tms (NASDAQ:EDAP - Get Free Report) last issued its earnings results on Thursday, November 6th. The medical equipment provider reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.11. The company had revenue of $16.29 million for the quarter, compared to analyst estimates of $15.05 million. Edap Tms had a negative net margin of 30.95% and a negative return on equity of 61.60%. Sell-side analysts anticipate that Edap Tms S.A. will post -0.6 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Banque Transatlantique SA lifted its position in shares of Edap Tms by 7,063.7% during the 1st quarter. Banque Transatlantique SA now owns 730,699 shares of the medical equipment provider's stock valued at $1,324,000 after acquiring an additional 720,499 shares during the period. Scoggin Management LP purchased a new position in Edap Tms in the 1st quarter valued at approximately $686,000. Sage Mountain Advisors LLC acquired a new position in Edap Tms during the second quarter worth $165,000. Simplicity Wealth LLC purchased a new stake in Edap Tms during the second quarter worth $54,000. Finally, Cetera Investment Advisers grew its holdings in Edap Tms by 33.9% in the first quarter. Cetera Investment Advisers now owns 75,000 shares of the medical equipment provider's stock valued at $147,000 after purchasing an additional 19,000 shares during the last quarter. 62.74% of the stock is owned by hedge funds and other institutional investors.
Edap Tms Company Profile
(Get Free Report)EDAP TMS SA is a holding company, which, through its subsidiary, engages in the development, production, and marketing of minimally invasive medical devices for urological diseases. It operates through the High Intensity Focused Ultrasound (HIFU) and Urology Devices and Services (UDS) segments. The HIFU segment develops, manufactures, and markets devices for the minimally invasive ablation of certain types of localized tumors using HIFU technology.
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