CVRx, Inc. (NASDAQ:CVRX) Short Interest Down 9.8% in January

CVRx, Inc. (NASDAQ:CVRX) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 1,840,000 shares, a decline of 9.8% from the January 15th total of 2,040,000 shares. Based on an average daily trading volume, of 226,600 shares, the short-interest ratio is currently 8.1 days. Currently, 13.2% of the shares of the stock are short sold.

CVRx Trading Down 0.7 %

CVRX opened at $14.98 on Wednesday. The stock has a fifty day moving average price of $14.77 and a 200-day moving average price of $12.11. CVRx has a 12 month low of $6.40 and a 12 month high of $22.86. The company has a current ratio of 11.32, a quick ratio of 10.23 and a debt-to-equity ratio of 0.76. The firm has a market cap of $363.41 million, a price-to-earnings ratio of -5.57 and a beta of 1.30.

CVRx (NASDAQ:CVRX) last issued its quarterly earnings results on Tuesday, February 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). CVRx had a negative return on equity of 96.36% and a negative net margin of 116.91%. As a group, equities research analysts anticipate that CVRx will post -1.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVRx

Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in CVRx by 43.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,900 shares of the company’s stock valued at $49,000 after buying an additional 1,186 shares in the last quarter. Quarry LP acquired a new position in CVRx in the 4th quarter worth about $69,000. SG Americas Securities LLC purchased a new position in CVRx during the third quarter worth approximately $108,000. MetLife Investment Management LLC acquired a new stake in CVRx in the fourth quarter valued at approximately $111,000. Finally, Wells Fargo & Company MN increased its position in shares of CVRx by 86.1% in the fourth quarter. Wells Fargo & Company MN now owns 8,894 shares of the company’s stock valued at $113,000 after buying an additional 4,115 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CVRX shares. Canaccord Genuity Group boosted their price target on shares of CVRx from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price objective on shares of CVRx in a research note on Wednesday, October 23rd. Craig Hallum increased their target price on shares of CVRx from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Piper Sandler upped their price target on shares of CVRx from $16.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Finally, Lake Street Capital raised their price objective on shares of CVRx from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.83.

About CVRx

CVRx, Inc, a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. The company offers Barostim, a neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction or systolic heart failure.