AtriCure, Inc. (NASDAQ:ATRC) Short Interest Down 20.4% in January

AtriCure, Inc. (NASDAQ:ATRC) was the recipient of a significant drop in short interest in January. As of January 31st, there was short interest totalling 1,170,000 shares, a drop of 20.4% from the January 15th total of 1,470,000 shares. Based on an average daily volume of 480,400 shares, the short-interest ratio is presently 2.4 days.

AtriCure Stock Up 3.4 %

Shares of NASDAQ:ATRC opened at $40.94 on Monday. AtriCure has a 1 year low of $18.94 and a 1 year high of $43.11. The business has a 50 day simple moving average of $35.76 and a two-hundred day simple moving average of $31.50. The firm has a market capitalization of $2.00 billion, a PE ratio of -49.33 and a beta of 1.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.62 and a quick ratio of 2.59.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Oppenheimer raised their price objective on AtriCure from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday. Piper Sandler lifted their price target on AtriCure from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $51.00 price target on shares of AtriCure in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on AtriCure from $40.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of AtriCure in a research report on Monday, February 10th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, AtriCure has an average rating of “Moderate Buy” and a consensus target price of $51.56.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ATRC. Adage Capital Partners GP L.L.C. purchased a new position in shares of AtriCure during the fourth quarter valued at approximately $9,168,000. Kennedy Capital Management LLC boosted its position in shares of AtriCure by 29.8% during the fourth quarter. Kennedy Capital Management LLC now owns 752,580 shares of the medical device company’s stock valued at $22,999,000 after buying an additional 172,648 shares during the period. Marshall Wace LLP boosted its position in shares of AtriCure by 37.1% during the fourth quarter. Marshall Wace LLP now owns 619,166 shares of the medical device company’s stock valued at $18,922,000 after buying an additional 167,476 shares during the period. Oberweis Asset Management Inc. bought a new stake in shares of AtriCure during the fourth quarter valued at approximately $4,630,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of AtriCure by 151.6% during the third quarter. Assenagon Asset Management S.A. now owns 229,130 shares of the medical device company’s stock valued at $6,425,000 after acquiring an additional 138,046 shares in the last quarter. Hedge funds and other institutional investors own 99.11% of the company’s stock.

About AtriCure

AtriCure, Inc develops, manufactures, and sells devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, Europe, the Asia-Pacific, and internationally. The company offers Isolator Synergy Clamps, single-use disposable radio frequency products; multifunctional pens and linear ablation devices, such as the MAX Pen device that enables surgeons to evaluate cardiac arrhythmias, perform temporary cardiac pacing, sensing, and stimulation, and ablate cardiac tissue with the same device; and the Coolrail device, which enables users to make longer linear lines of ablation.