Sarcos Technology and Robotics Corporation (NASDAQ: STRC) recently experienced a significant decrease in short interest during the month of August. The total short interest as of August 31st was 298,000 shares, which represented an 18.0% decrease from the previous short interest total of 363,600 shares on August 15th. With an average daily trading volume of 266,500 shares, the short-interest ratio is currently at 1.1 days. Approximately 2.2% of the company’s stock is currently sold short.
The decrease in short interest could be attributed to various factors. One possible reason is the trading performance of Sarcos Technology and Robotics stock. On Friday, the stock opened at $0.76, which reflects a decrease in trading value of 16.1%. The stock has a 12-month low of $0.76 and a 12-month high of $17.61. The company has a market capitalization of $19.48 million and a beta of 2.08.
In terms of financial performance, Sarcos Technology and Robotics reported quarterly earnings results on August 9th. The company’s earnings per share (EPS) for the quarter were ($0.94), missing analysts’ consensus estimates of ($0.78) by ($0.16). The company also had a negative net margin of 1,148.57% and a negative return on equity of 55.08%. Its revenue for the quarter was $1.28 million, compared to analyst estimates of $2.10 million. Sell-side analysts predict that Sarcos Technology and Robotics will post -2.91 EPS for the current fiscal year.
Several equities research analysts have provided their insights on the company. Robert W. Baird lowered their price target on Sarcos Technology and Robotics from $12.00 to $3.00. Meanwhile, Jefferies Financial Group downgraded the stock from a “buy” rating to a “hold” rating.
In terms of institutional investors, Steel Partners Holdings L.P. recently acquired a new position in Sarcos Technology and Robotics, while BlackRock Inc., Vanguard Group Inc., State Street Corp, and Northern Trust Corp have also made modifications to their holdings of STRC.
Sarcos Technology and Robotics Corporation is a company that designs, develops, and manufactures advanced mobile robotic systems. These systems are designed to operate in challenging, unstructured, industrial environments and include teleoperated robotic systems, powered robotic exoskeletons, and software solutions for task autonomy.
Sources:
– NASDAQ: STRC (source: NASDAQ)
– Short interest data (source: MarketBeat)
– Trading performance and financials (source: Yahoo Finance)
– Equities research analysts’ insights (source: Markets Insider)
– Institutional investors’ modifications (source: MarketBeat)
– Company description (source: MarketBeat)