Assure Holdings Corp. (NASDAQ:IONM) Sees Large Growth in Short Interest

Financial News Live · Jan 30, 2023 00:41

Assure Holdings Corp. (NASDAQ:IONM – Get Rating) saw a significant growth in short interest in January. As of January 15th, there was short interest totalling 37,000 shares, a growth of 25.4% from the December 31st total of 29,500 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 117,900 shares, the short-interest ratio is currently 0.3 days.

Analyst Ratings Changes

Separately, Roth Capital reduced their price objective on Assure from $5.50 to $3.00 in a research note on Monday, November 28th.

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Insider Buying and Selling

In related news, major shareholder Preston T. Parsons sold 99,000 shares of the business's stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $0.29, for a total value of $28,710.00. Following the sale, the insider now directly owns 3,976,998 shares in the company, valued at $1,153,329.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO John C. Price acquired 67,713 shares of Assure stock in a transaction on Friday, November 18th. The shares were bought at an average cost of $0.60 per share, with a total value of $40,627.80. Following the completion of the purchase, the chief financial officer now directly owns 81,413 shares of the company's stock, valued at approximately $48,847.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Preston T. Parsons sold 99,000 shares of the business's stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $0.29, for a total value of $28,710.00. Following the sale, the insider now directly owns 3,976,998 shares in the company, valued at $1,153,329.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,500 shares of company stock worth $72,735. Corporate insiders own 28.10% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Assure stock. Empery Asset Management LP acquired a new position in Assure Holdings Corp. (NASDAQ:IONM – Get Rating) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 56,264 shares of the company's stock, valued at approximately $36,000. Empery Asset Management LP owned approximately 0.43% of Assure as of its most recent SEC filing. 6.57% of the stock is currently owned by institutional investors.

Assure Trading Down 14.7 %

Shares of IONM traded down $0.05 during mid-day trading on Friday, reaching $0.27. 139,537 shares of the company's stock traded hands, compared to its average volume of 106,161. The stock has a market cap of $5.06 million, a P/E ratio of -0.40 and a beta of 1.25. The stock's 50-day moving average is $0.34 and its two-hundred day moving average is $0.72. Assure has a 12 month low of $0.24 and a 12 month high of $8.15. The company has a debt-to-equity ratio of 0.50, a current ratio of 8.68 and a quick ratio of 8.68.

Assure (NASDAQ:IONM – Get Rating) last released its earnings results on Monday, November 14th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02). The business had revenue of $6.20 million for the quarter, compared to the consensus estimate of $7.52 million. Assure had a negative net margin of 40.19% and a negative return on equity of 34.29%. Research analysts forecast that Assure will post -0.65 earnings per share for the current fiscal year.

About Assure

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Assure Holdings Corp., through its subsidiaries, provides technical and professional intraoperative neuromonitoring surgical support services primarily associated with spine and head surgeries. It delivers various clinical and operational services, including scheduling of the interoperative neurophysiologist and supervising practitioner, real time monitoring, patient advocacy, and billing services to support surgeons and medical facilities during invasive procedures.