Profound Medical (NASDAQ:PROF) Trading 0.9% Higher

Profound Medical Corp. (NASDAQ:PROF)’s stock price traded up 0.9% on Thursday . The company traded as high as $8.76 and last traded at $8.66. 5,255 shares were traded during trading, a decline of 75% from the average session volume of 21,429 shares. The stock had previously closed at $8.58.

Profound Medical Trading Up 0.9 %

The firm has a market cap of $212.00 million, a price-to-earnings ratio of -6.71 and a beta of 0.84. The business’s 50-day simple moving average is $8.13 and its two-hundred day simple moving average is $8.25.

Profound Medical (NASDAQ:PROF) last released its earnings results on Thursday, May 9th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.05. The business had revenue of $1.91 million during the quarter, compared to the consensus estimate of $2.40 million. Profound Medical had a negative net margin of 386.63% and a negative return on equity of 70.08%. On average, analysts forecast that Profound Medical Corp. will post -1.11 earnings per share for the current fiscal year.

Institutional Trading of Profound Medical

Large investors have recently modified their holdings of the stock. Letko Brosseau & Associates Inc. grew its position in Profound Medical by 1.2% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 1,177,850 shares of the company’s stock valued at $9,463,000 after purchasing an additional 13,725 shares during the period. Gagnon Advisors LLC lifted its stake in Profound Medical by 10.0% during the 1st quarter. Gagnon Advisors LLC now owns 747,226 shares of the company’s stock valued at $6,374,000 after acquiring an additional 67,930 shares in the last quarter. AIGH Capital Management LLC bought a new position in Profound Medical during the 4th quarter valued at $5,491,000. Raymond James Financial Services Advisors Inc. lifted its stake in Profound Medical by 0.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 625,465 shares of the company’s stock valued at $5,335,000 after acquiring an additional 2,913 shares in the last quarter. Finally, Worth Venture Partners LLC bought a new position in Profound Medical during the 4th quarter valued at $1,367,000. Institutional investors and hedge funds own 47.86% of the company’s stock.

About Profound Medical

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.