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

kopsource · Apr 19, 2023 07:14

Assure Holdings Corp. (NASDAQ:IONM – Get Rating) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 18,100 shares, an increase of 43.7% from the March 15th total of 12,600 shares. Based on an average trading volume of 74,700 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.2% of the company's shares are short sold.

Analyst Upgrades and Downgrades

Separately, Roth Mkm dropped their price objective on shares of Assure from $60.00 to $12.00 and set a "buy" rating on the stock in a research note on Wednesday, April 12th.

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Insider Activity at Assure

In related news, major shareholder Preston T. Parsons sold 6,600 shares of the company's stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $4.85, for a total value of $32,010.00. Following the completion of the sale, the insider now owns 177,525 shares in the company, valued at approximately $860,996.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Assure news, major shareholder Preston T. Parsons sold 7,000 shares of the company's stock in a transaction that occurred on Friday, March 24th. The shares were sold at an average price of $4.11, for a total value of $28,770.00. Following the transaction, the insider now owns 184,125 shares in the company, valued at approximately $756,753.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Preston T. Parsons sold 6,600 shares of the company's stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $4.85, for a total transaction of $32,010.00. Following the completion of the transaction, the insider now owns 177,525 shares in the company, valued at approximately $860,996.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,264 shares of company stock worth $107,551. 40.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Assure stock. Empery Asset Management LP purchased a new position in shares of Assure Holdings Corp. (NASDAQ:IONM – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 56,264 shares of the company's stock, valued at approximately $36,000. Empery Asset Management LP owned about 0.43% of Assure as of its most recent SEC filing. Institutional investors own 6.57% of the company's stock.

Assure Stock Performance

Shares of IONM opened at $3.39 on Wednesday. The company's fifty day moving average is $4.62 and its 200-day moving average is $7.51. Assure has a 12 month low of $2.79 and a 12 month high of $113.00. The firm has a market cap of $3.73 million, a price-to-earnings ratio of -0.25 and a beta of 1.21. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 2.21.

Assure Company Profile

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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.