Modular Medical (NASDAQ:MODD) Trading 0.4% Higher – Should You Buy?

Shares of Modular Medical, Inc. (NASDAQ:MODD) traded up 0.4% during mid-day trading on Tuesday . The company traded as high as $1.29 and last traded at $1.28. 51,159 shares changed hands during trading, a decline of 26% from the average session volume of 68,939 shares. The stock had previously closed at $1.27.

Modular Medical Stock Performance

The firm has a market cap of $51.88 million, a P/E ratio of -2.02 and a beta of 0.51. The company’s 50 day moving average is $1.42 and its 200 day moving average is $1.79.

Insider Activity

In other Modular Medical news, CEO Manchester Management Co Llc acquired 166,666 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $1.50 per share, for a total transaction of $249,999.00. Following the acquisition, the chief executive officer now directly owns 3,284,743 shares in the company, valued at $4,927,114.50. This represents a 5.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders bought 287,666 shares of company stock worth $454,279. Insiders own 20.46% of the company’s stock.

Hedge Funds Weigh In On Modular Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in MODD. Navigation Wealth Management Inc. increased its holdings in Modular Medical by 233.8% in the fourth quarter. Navigation Wealth Management Inc. now owns 61,040 shares of the company’s stock valued at $84,000 after purchasing an additional 42,754 shares during the period. Virtu Financial LLC acquired a new stake in shares of Modular Medical in the third quarter valued at about $44,000. Geode Capital Management LLC lifted its stake in shares of Modular Medical by 45.0% in the third quarter. Geode Capital Management LLC now owns 306,440 shares of the company’s stock worth $690,000 after acquiring an additional 95,072 shares during the period. State Street Corp boosted its holdings in Modular Medical by 285.8% in the third quarter. State Street Corp now owns 76,000 shares of the company’s stock valued at $171,000 after acquiring an additional 56,300 shares during the last quarter. Finally, Walleye Capital LLC increased its position in Modular Medical by 299.8% during the 3rd quarter. Walleye Capital LLC now owns 75,418 shares of the company’s stock valued at $170,000 after purchasing an additional 56,552 shares during the period. 27.47% of the stock is currently owned by institutional investors and hedge funds.

About Modular Medical

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.