Cogentix Medical, Inc. (NASDAQ:CGNT) Closed 6.9% Above Its 50 Day Moving Average

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Shares are trading at $2.95 a tad higher than $2.76, the stock’s 50 day moving average and which is significantly higher than the 200 day moving average of $2.07. The 50 day moving average was up $0.19 and the 200 day average moved up $0.88. Trading was light with 1,189 shares changing hands on Tuesday. Shares saw a steep decrease in trading volume of 98.24% under the normal average daily volume.

Traders are more bullish on shares of Cogentix Medical, Inc. lately as inferred by the decrease in short interest. The firm had a fall in short interest of -26.50% as of September 29, 2017 from the last reporting period. Short shares decreased 14,999 over that period. With short interest at 41,597 and short average daily volume at 67,412, days to cover is 1.0 and the short interest percentage is 0.00% as of September 29.

Here are a few substantial investment firms who have updated their positions. As of quarter end Creative Planning had disposed of a total of 3,800 shares trimming its holdings by 51.1%. The value in dollars decreased from $13,000 to $6,000 decreasing 53.8% quarter over quarter. Tower Research Capital LLC (trc) augmented its position by buying 16,634 shares an increase of 2,068.9%. Tower Research Capital LLC (trc) controls 17,438 shares with a value of $30,000. The total value of its holdings increased 2,900.0%.

As of the end of the quarter Nantahala Capital Management, LLC had bought 271,270 shares growing its position 8.1%. The value of the investment in Cogentix Medical, Inc. went from $6,188,000 to $6,324,000 a change of 2.2% for the reporting period. As of the end of the quarter Ubs Group Ag had sold 2,076 shares trimming its stake by 24.0%. The value of the total investment in Cogentix Medical, Inc. decreased from $16,000 to $11,000 a change of $5,000 quarter to quarter.

On October 6 analysts at JMP Securities added CGNT to its research portfolio giving it an initial rating of “Outperform”.

As of the last earnings report the EPS was $-0.40 and is expected to be $-0.02 for the current year with 60,914,000 shares now outstanding. Analysts expect next quarter’s EPS will be $-0.01 with next year’s EPS projected to be $-0.02.

Cogentix Medical, Inc., launched on October 19, 1987, is a global medical device company. The Company designs, develops, manufactures and markets a line of fiber-optic and video endoscopy products under the PrimeSight brand that are used across various surgical specialties in diagnostic and treatment procedures. The Company also offers the Urgent PC Neuromodulation System (Urgent PC Systems), a device that delivers percutaneous tibial nerve stimulation (PTNS), for the office-based treatment of overactive bladder (OAB). The Company also offers Macroplastique Implants, an injectable urethral bulking agent for the treatment of adult female stress urinary incontinence that is primarily due to intrinsic sphincter deficiency. The PrimeSight flexible endoscopes are used in conjunction with the sterile, single-use microbial barrier known as the EndoSheath Protective Barrier. The PrimeSight endoscopy line also includes rigid endoscopes and portable peripherals, such as the video system and stroboscopy unit..