Outset Medical, Inc. (NASDAQ:OM) Sees Significant Growth in Short Interest

Outset Medical, Inc. (NASDAQ:OM) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 9,080,000 shares, an increase of 40.6% from the January 15th total of 6,460,000 shares. Based on an average daily volume of 1,090,000 shares, the short-interest ratio is presently 8.3 days.

Outset Medical Trading Up 9.6 %

OM traded up $0.08 during mid-day trading on Friday, reaching $0.90. The stock had a trading volume of 2,687,766 shares, compared to its average volume of 951,179. The stock has a market capitalization of $48.27 million, a P/E ratio of -0.33 and a beta of 2.01. The company has a debt-to-equity ratio of 4.12, a quick ratio of 5.04 and a current ratio of 6.49. The firm’s fifty day simple moving average is $0.98 and its two-hundred day simple moving average is $0.88. Outset Medical has a 52 week low of $0.44 and a 52 week high of $5.22.

Insider Activity

In other news, CEO Leslie Trigg sold 65,236 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $0.80, for a total value of $52,188.80. Following the sale, the chief executive officer now directly owns 895,580 shares in the company, valued at approximately $716,464. This represents a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel John L. Brottem sold 32,930 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $0.80, for a total value of $26,344.00. Following the sale, the general counsel now owns 181,188 shares in the company, valued at approximately $144,950.40. This trade represents a 15.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 267,790 shares of company stock worth $222,243. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OM. Two Sigma Securities LLC lifted its stake in shares of Outset Medical by 190.0% in the 4th quarter. Two Sigma Securities LLC now owns 42,477 shares of the company’s stock valued at $47,000 after purchasing an additional 27,830 shares during the period. XTX Topco Ltd acquired a new position in shares of Outset Medical in the 4th quarter valued at $50,000. National Bank of Canada FI lifted its stake in shares of Outset Medical by 79.2% in the 3rd quarter. National Bank of Canada FI now owns 52,407 shares of the company’s stock valued at $35,000 after purchasing an additional 23,164 shares during the period. Huntington National Bank lifted its stake in shares of Outset Medical by 46.2% in the 3rd quarter. Huntington National Bank now owns 63,306 shares of the company’s stock valued at $43,000 after purchasing an additional 20,000 shares during the period. Finally, Birchview Capital LP lifted its stake in shares of Outset Medical by 3,587.7% in the 4th quarter. Birchview Capital LP now owns 368,766 shares of the company’s stock valued at $409,000 after purchasing an additional 358,766 shares during the period.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada restated a “sector perform” rating and set a $3.00 price target on shares of Outset Medical in a research report on Tuesday, January 7th.

About Outset Medical

Outset Medical, Inc, a medical technology company, engages in the development of a hemodialysis system for hemodialysis in the United States. The company offers Tablo Hemodialysis System, a compact console with integrated water purification, on-demand dialysate production, and software and connectivity capabilities for dialysis care in acute and home settings; and manufactures, supports, and distributes for Tablo console, Tablo cartridge, and other consumables.