Short Interest in OrthoPediatrics Corp. (NASDAQ:KIDS) Declines By 9.7%

OrthoPediatrics Corp. (NASDAQ:KIDS) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 826,300 shares, a decrease of 9.7% from the January 15th total of 914,900 shares. Based on an average trading volume of 277,800 shares, the days-to-cover ratio is presently 3.0 days. Approximately 5.1% of the shares of the company are short sold.

Hedge Funds Weigh In On OrthoPediatrics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KIDS. Quarry LP acquired a new stake in shares of OrthoPediatrics in the third quarter valued at about $25,000. International Assets Investment Management LLC raised its position in shares of OrthoPediatrics by 2,610.8% in the third quarter. International Assets Investment Management LLC now owns 1,003 shares of the company’s stock valued at $27,000 after buying an additional 966 shares during the last quarter. R Squared Ltd acquired a new stake in shares of OrthoPediatrics in the fourth quarter valued at about $48,000. KLP Kapitalforvaltning AS acquired a new stake in shares of OrthoPediatrics in the fourth quarter valued at about $79,000. Finally, BNP Paribas Financial Markets raised its position in shares of OrthoPediatrics by 125.1% in the third quarter. BNP Paribas Financial Markets now owns 3,471 shares of the company’s stock valued at $94,000 after buying an additional 1,929 shares during the last quarter. 69.05% of the stock is owned by hedge funds and other institutional investors.

OrthoPediatrics Price Performance

KIDS traded down $0.44 during midday trading on Monday, hitting $24.62. 337,395 shares of the company traded hands, compared to its average volume of 327,343. The company has a current ratio of 7.17, a quick ratio of 3.68 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $596.30 million, a price-to-earnings ratio of -20.02 and a beta of 1.14. OrthoPediatrics has a 52-week low of $21.02 and a 52-week high of $35.99. The business has a 50 day simple moving average of $24.11 and a two-hundred day simple moving average of $26.27.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial cut their price objective on shares of OrthoPediatrics from $28.00 to $25.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. Needham & Company LLC reissued a “buy” rating and set a $42.00 price target on shares of OrthoPediatrics in a report on Tuesday, January 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.