Cytosorbents Co. (NASDAQ:CTSO) Sees Significant Drop in Short Interest

Cytosorbents Co. (NASDAQ:CTSO) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 1,330,000 shares, a drop of 5.7% from the September 15th total of 1,410,000 shares. Based on an average daily trading volume, of 91,700 shares, the short-interest ratio is presently 14.5 days.

Cytosorbents Stock Performance

NASDAQ:CTSO remained flat at $1.09 during trading on Wednesday. The company’s stock had a trading volume of 16,215 shares, compared to its average volume of 122,683. Cytosorbents has a 52-week low of $0.70 and a 52-week high of $2.15. The company has a market capitalization of $59.19 million, a price-to-earnings ratio of -1.85 and a beta of 0.51. The company has a 50 day simple moving average of $1.14 and a 200 day simple moving average of $0.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 2.12.

Cytosorbents (NASDAQ:CTSO) last released its earnings results on Tuesday, August 13th. The medical research company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Cytosorbents had a negative net margin of 68.70% and a negative return on equity of 131.84%. The firm had revenue of $9.89 million during the quarter, compared to the consensus estimate of $9.73 million. During the same period in the prior year, the firm earned ($0.14) EPS. Equities research analysts forecast that Cytosorbents will post -0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CTSO has been the topic of a number of recent research reports. EF Hutton Acquisition Co. I upgraded Cytosorbents to a “strong-buy” rating in a report on Monday, July 29th. StockNews.com assumed coverage on Cytosorbents in a research report on Wednesday, October 9th. They issued a “hold” rating for the company. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $1.00 price objective on shares of Cytosorbents in a report on Wednesday, August 14th.

Institutional Investors Weigh In On Cytosorbents

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CM Management LLC lifted its stake in shares of Cytosorbents by 98.8% during the 1st quarter. CM Management LLC now owns 825,000 shares of the medical research company’s stock valued at $784,000 after buying an additional 410,000 shares in the last quarter. Avenir Corp lifted its position in shares of Cytosorbents by 4.0% during the first quarter. Avenir Corp now owns 3,172,696 shares of the medical research company’s stock worth $3,014,000 after acquiring an additional 121,294 shares in the last quarter. Sargent Investment Group LLC lifted its position in shares of Cytosorbents by 4.9% during the second quarter. Sargent Investment Group LLC now owns 1,433,500 shares of the medical research company’s stock worth $1,008,000 after acquiring an additional 67,181 shares in the last quarter. Atomi Financial Group Inc. bought a new position in shares of Cytosorbents in the third quarter worth $51,000. Finally, Key Client Fiduciary Advisors LLC grew its position in shares of Cytosorbents by 188.0% in the first quarter. Key Client Fiduciary Advisors LLC now owns 34,557 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 22,557 shares in the last quarter. 32.87% of the stock is currently owned by institutional investors.

About Cytosorbents

Cytosorbents Corporation engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology in the United States, Germany, and internationally. Its flagship product is CytoSorb, an extracorporeal cytokine adsorber for adjunctive therapy in the treatment of sepsis, adjunctive therapy in other critical care applications, prevention, and treatment of perioperative complications, and maintaining or enhancing the quality of solid organs harvested from donors for organ transplant; and offers VetResQ, a device for adjunctive therapy in the treatment of sepsis, pancreatitis, and other critical illnesses in animals.