Modular Medical (NASDAQ:MODD) Stock Price Down 2.5%

Modular Medical, Inc. (NASDAQ:MODD)’s share price was down 2.5% during mid-day trading on Thursday . The stock traded as low as $1.51 and last traded at $1.56. Approximately 48,435 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 137,477 shares. The stock had previously closed at $1.60.

Analyst Ratings Changes

Separately, Benchmark reiterated a “speculative buy” rating and issued a $5.00 price objective on shares of Modular Medical in a report on Thursday, March 21st.

Modular Medical Price Performance

The firm’s fifty day moving average price is $1.63 and its 200-day moving average price is $1.71. The firm has a market capitalization of $34.16 million, a P/E ratio of -2.00 and a beta of 0.52.

Institutional Trading of Modular Medical

Large investors have recently added to or reduced their stakes in the business. Navigation Wealth Management Inc. bought a new stake in Modular Medical during the first quarter worth approximately $34,000. Perritt Capital Management Inc. acquired a new position in Modular Medical in the 3rd quarter worth approximately $46,000. Finally, AWM Investment Company Inc. acquired a new position in Modular Medical in the 1st quarter worth approximately $1,388,000. 27.47% of the stock is currently owned by institutional investors.

Modular Medical Company Profile

Modular Medical, Inc operates as a development stage medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for diabetes. The company was founded in 1998 and is headquartered in San Diego, California.