Short Interest in EnteroMedics Inc. (ETRM) Rises By 36.5%

EnteroMedics Inc. (NASDAQ:ETRM) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 3,349,173 shares, a growth of 36.5% from the August 31st total of 2,452,796 shares. Based on an average daily trading volume, of 7,274,540 shares, the short-interest ratio is presently 0.5 days. Approximately 12.8% of the company’s shares are short sold.

Several research firms recently commented on ETRM. Roth Capital downgraded shares of EnteroMedics from a “buy” rating to a “neutral” rating and set a $3.00 price target on the stock. in a research note on Thursday, June 9th. Zacks Investment Research downgraded shares of EnteroMedics from a “buy” rating to a “hold” rating in a research note on Wednesday.

A hedge fund recently bought a new stake in EnteroMedics stock. Hudson Bay Capital Management LP bought a new position in EnteroMedics Inc. (NASDAQ:ETRM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 204,836 shares of the medical device company’s stock, valued at approximately $198,000. Hudson Bay Capital Management LP owned 2.88% of EnteroMedics as of its most recent SEC filing. Institutional investors own 5.82% of the company’s stock.

EnteroMedics (NASDAQ:ETRM) opened at 0.1301 on Friday. EnteroMedics has a 52-week low of $0.11 and a 52-week high of $4.95. The firm’s 50-day moving average is $0.15 and its 200-day moving average is $0.45. The stock’s market cap is $3.55 million.

EnteroMedics (NASDAQ:ETRM) last released its earnings results on Thursday, August 4th. The medical device company reported ($0.49) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.75) by $0.26. EnteroMedics had a negative net margin of 4,157.93% and a negative return on equity of 1,361.34%. Equities research analysts predict that EnteroMedics will post ($2.37) earnings per share for the current year.

About EnteroMedics

EnteroMedics Inc (EnteroMedics) is a medical device company. The Company is focused on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders. The Company’s neuroblocking technology, which is referred to as VBLOC therapy, is designed to intermittently block the vagus nerve.

5 Day Chart for NASDAQ:ETRM

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