OrthoPediatrics Corp. (NASDAQ:KIDS) Sees Large Decline in Short Interest

OrthoPediatrics Corp. (NASDAQ:KIDS) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 801,100 shares, a decrease of 12.3% from the October 31st total of 913,900 shares. Based on an average daily volume of 162,600 shares, the days-to-cover ratio is currently 4.9 days. Approximately 4.9% of the company’s shares are short sold.

Hedge Funds Weigh In On OrthoPediatrics

A number of large investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in OrthoPediatrics during the third quarter worth approximately $25,000. International Assets Investment Management LLC grew its holdings in shares of OrthoPediatrics by 2,610.8% during the 3rd quarter. International Assets Investment Management LLC now owns 1,003 shares of the company’s stock worth $27,000 after purchasing an additional 966 shares in the last quarter. Quest Partners LLC bought a new position in shares of OrthoPediatrics in the second quarter worth $34,000. BNP Paribas Financial Markets lifted its position in OrthoPediatrics by 125.1% during the third quarter. BNP Paribas Financial Markets now owns 3,471 shares of the company’s stock worth $94,000 after purchasing an additional 1,929 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in OrthoPediatrics during the second quarter worth about $110,000. Institutional investors own 69.05% of the company’s stock.

OrthoPediatrics Trading Up 2.3 %

KIDS stock traded up $0.59 during midday trading on Friday, reaching $25.98. 73,343 shares of the company were exchanged, compared to its average volume of 202,861. OrthoPediatrics has a one year low of $22.41 and a one year high of $36.23. The business has a 50-day moving average price of $26.04 and a two-hundred day moving average price of $29.10. The company has a current ratio of 7.17, a quick ratio of 3.68 and a debt-to-equity ratio of 0.19.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KIDS. JMP Securities reissued a “market outperform” rating and set a $50.00 price objective on shares of OrthoPediatrics in a research report on Friday, September 13th. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price target on shares of OrthoPediatrics in a research note on Friday, November 8th. Finally, Truist Financial reduced their price objective on OrthoPediatrics from $34.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, October 14th.

About OrthoPediatrics

OrthoPediatrics Corp., a medical device company, engages in designing, developing, and marketing anatomically appropriate implants, instruments, and specialized braces for children with orthopedic conditions in the United States and internationally. The company offers pediatric trauma and deformity correction products; scoliosis procedures for the treatment of spinal deformity; and sports medicine and other products.