Short Interest in Pro-Dex Inc (NASDAQ:PDEX) Declines By 17.4%

Pro-Dex Inc (NASDAQ:PDEX) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 10,000 shares, a drop of 17.4% from the July 31st total of 12,100 shares. Based on an average daily trading volume, of 16,500 shares, the short-interest ratio is presently 0.6 days. Approximately 0.3% of the shares of the company are sold short.

Separately, ValuEngine cut Pro-Dex from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th.

Shares of Pro-Dex stock traded up $0.25 during trading on Friday, hitting $15.40. 49,628 shares of the company’s stock traded hands, compared to its average volume of 25,807. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.88 and a quick ratio of 4.60. Pro-Dex has a 1 year low of $8.01 and a 1 year high of $17.95. The stock has a market capitalization of $62.39 million, a P/E ratio of 19.20 and a beta of 1.49. The business has a 50-day simple moving average of $14.06 and a 200-day simple moving average of $14.00.

Several institutional investors have recently added to or reduced their stakes in the stock. Alambic Investment Management L.P. boosted its position in shares of Pro-Dex by 6.2% during the first quarter. Alambic Investment Management L.P. now owns 73,583 shares of the medical instruments supplier’s stock valued at $1,065,000 after buying an additional 4,291 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Pro-Dex by 23.3% in the second quarter. Vanguard Group Inc. now owns 83,355 shares of the medical instruments supplier’s stock valued at $1,082,000 after acquiring an additional 15,751 shares during the period. Acadian Asset Management LLC lifted its holdings in Pro-Dex by 21.9% in the second quarter. Acadian Asset Management LLC now owns 91,706 shares of the medical instruments supplier’s stock valued at $1,190,000 after acquiring an additional 16,453 shares during the period. O Shaughnessy Asset Management LLC bought a new position in Pro-Dex in the first quarter valued at about $242,000. Finally, Wedge Capital Management L L P NC bought a new position in Pro-Dex in the second quarter valued at about $267,000. 15.29% of the stock is currently owned by institutional investors.

About Pro-Dex

Pro-Dex, Inc, together with its subsidiaries, designs, develops, and manufactures powered surgical instruments, dental instruments, and rotary air motors worldwide. It also manufactures plastic injection molds for various industries; and shavers and machined parts. In addition, it provides engineering, and quality and regulatory consulting services.

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