Silk Road Medical (NASDAQ:SILK) Sees Strong Trading Volume

Silk Road Medical, Inc (NASDAQ:SILK) saw unusually-high trading volume on Wednesday . Approximately 1,025,947 shares changed hands during mid-day trading, a decline of 11% from the previous session’s volume of 1,153,430 shares.The stock last traded at $26.96 and had previously closed at $26.97.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Piper Sandler increased their target price on shares of Silk Road Medical from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on shares of Silk Road Medical from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Lake Street Capital restated a “hold” rating and issued a $27.50 target price (down previously from $28.00) on shares of Silk Road Medical in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.85.

Silk Road Medical Price Performance

The business’s fifty day simple moving average is $23.10 and its 200-day simple moving average is $18.59. The firm has a market cap of $1.06 billion, a P/E ratio of -19.69 and a beta of 1.52. The company has a current ratio of 11.05, a quick ratio of 9.62 and a debt-to-equity ratio of 0.52.

Silk Road Medical (NASDAQ:SILK) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.04. Silk Road Medical had a negative net margin of 29.02% and a negative return on equity of 35.47%. The firm had revenue of $48.50 million for the quarter, compared to analysts’ expectations of $44.67 million. During the same quarter in the prior year, the firm posted ($0.43) earnings per share. The business’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, analysts forecast that Silk Road Medical, Inc will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC lifted its position in Silk Road Medical by 151.5% during the fourth quarter. CWM LLC now owns 2,563 shares of the company’s stock valued at $31,000 after purchasing an additional 1,544 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Silk Road Medical by 1,293.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,523 shares of the company’s stock worth $31,000 after acquiring an additional 2,342 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Silk Road Medical by 879.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,210 shares of the company’s stock worth $52,000 after acquiring an additional 3,780 shares in the last quarter. Quest Partners LLC bought a new position in Silk Road Medical in the fourth quarter valued at $62,000. Finally, Tower Research Capital LLC TRC raised its position in Silk Road Medical by 369.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,834 shares of the company’s stock valued at $96,000 after purchasing an additional 6,165 shares in the last quarter.

About Silk Road Medical

Silk Road Medical, Inc operates as a medical device company in the United States. The company offers various products for the treatment of carotid artery disease called transcarotid artery revascularization (TCAR). Its products comprise ENROUTE Transcarotid Neuroprotection System that is used to directly access the common carotid artery and establish temporary blood flow reversal; ENROUTE Transcarotid Stent System for transcarotid access; ENHANCE Transcarotid Peripheral Access Kit, which is used to gain initial access to the common carotid artery; ENROUTE 0.014 Guidewire for atraumatic vessel navigation and target lesion crossing for delivery of interventional devices; and ENROUTE Enflate Transcarotid RX Balloon Dilation Catheter, a transcarotid rapid exchange balloon for the TCAR procedure.