Corindus Vascular Robotics Inc (CVRS) Sees Significant Increase in Short Interest

Corindus Vascular Robotics Inc (NYSEAMERICAN:CVRS) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 14,433,050 shares, a growth of 6.4% from the March 29th total of 13,569,380 shares. Based on an average trading volume of 1,229,430 shares, the short-interest ratio is currently 11.7 days. Currently, 12.2% of the shares of the company are short sold.

Shares of NYSEAMERICAN:CVRS traded up $0.03 on Friday, reaching $2.73. The company’s stock had a trading volume of 2,155,086 shares, compared to its average volume of 1,187,834. Corindus Vascular Robotics has a 52-week low of $0.70 and a 52-week high of $3.10.

Corindus Vascular Robotics (NYSEAMERICAN:CVRS) last posted its quarterly earnings results on Tuesday, May 7th. The medical equipment provider reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $3.04 million for the quarter, compared to analysts’ expectations of $2.90 million.

In other Corindus Vascular Robotics news, major shareholder Hudson Executive Capital Lp bought 2,899,391 shares of Corindus Vascular Robotics stock in a transaction dated Tuesday, March 12th. The stock was acquired at an average cost of $1.38 per share, with a total value of $4,001,159.58. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Louis A. Cannon bought 573,798 shares of Corindus Vascular Robotics stock in a transaction dated Tuesday, March 12th. The stock was acquired at an average cost of $1.38 per share, with a total value of $791,841.24. The disclosure for this purchase can be found here. Insiders acquired 3,483,189 shares of company stock valued at $4,811,001 in the last 90 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of CVRS. Canton Hathaway LLC bought a new stake in Corindus Vascular Robotics in the first quarter worth approximately $63,000. Weiss Asset Management LP bought a new stake in Corindus Vascular Robotics in the first quarter worth approximately $65,000. Jane Street Group LLC bought a new stake in Corindus Vascular Robotics in the fourth quarter worth approximately $36,000. Independent Advisor Alliance bought a new stake in Corindus Vascular Robotics in the first quarter worth approximately $75,000. Finally, Renaissance Technologies LLC bought a new stake in Corindus Vascular Robotics in the first quarter worth approximately $77,000.

Separately, Zacks Investment Research cut shares of Corindus Vascular Robotics from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th.

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About Corindus Vascular Robotics

Corindus Vascular Robotics, Inc designs, manufactures, and sells robotic-assisted systems for use in interventional vascular procedures in the United States and internationally. The company offers CorPath system, a medical device with robotic-assisted precision for coronary and peripheral interventional procedures.

See Also: Compound Annual Growth Rate (CAGR)

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