Short Interest in Electromed, Inc. (NYSEAMERICAN:ELMD) Increases By 142.9%

Electromed, Inc. (NYSEAMERICAN:ELMD) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totalling 49,300 shares, a growth of 142.9% from the February 27th total of 20,300 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 78,400 shares, the short-interest ratio is presently 0.6 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of ELMD. Geode Capital Management LLC raised its position in shares of Electromed by 25.9% in the 4th quarter. Geode Capital Management LLC now owns 23,277 shares of the medical equipment provider’s stock valued at $201,000 after buying an additional 4,794 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Electromed by 73.7% in the 4th quarter. Renaissance Technologies LLC now owns 215,544 shares of the medical equipment provider’s stock valued at $1,864,000 after buying an additional 91,420 shares in the last quarter. EAM Investors LLC acquired a new position in shares of Electromed in the 4th quarter valued at approximately $861,000. Acadian Asset Management LLC raised its position in shares of Electromed by 90.6% in the 4th quarter. Acadian Asset Management LLC now owns 54,769 shares of the medical equipment provider’s stock valued at $474,000 after buying an additional 26,028 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Electromed in the 4th quarter valued at approximately $45,000.

Shares of ELMD stock traded down $0.10 during midday trading on Thursday, hitting $12.10. 265,818 shares of the company were exchanged, compared to its average volume of 99,356. Electromed has a 52 week low of $4.75 and a 52 week high of $13.60.

Electromed (NYSEAMERICAN:ELMD) last announced its earnings results on Tuesday, February 11th. The medical equipment provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.04 by $0.10. The company had revenue of $8.55 million for the quarter.

Separately, Zacks Investment Research raised shares of Electromed from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a report on Wednesday, February 19th.

Electromed Company Profile

Electromed, Inc develops, manufactures, markets, and sells airway clearance therapy and related products in the United States and internationally. The company offers SmartVest airway clearance system that consists of an inflatable therapy garment, a programmable air pulse generator, and a patented single-hose that delivers air pulses from the generator to the garment to patients with compromised pulmonary function; and SmartVest SQL System that provides advanced generator programmability and an enhanced pause feature with save, lock, and restore functionality.

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