Sarcos Technology and Robotics Co. (NASDAQ:STRC) sees a surge in short interest

Sarcos Technology and Robotics Co. (NASDAQ:STRC – Get Rating ) saw a significant increase in short interest during the month of June. On June 30th, there was short interest of 4,850,000 shares, an increase of 55.0% from June 15th’s total of 3,130,000 shares. Approximately 7.3% of the company’s shares are sold short. Based on an average trading volume of 482,300 shares, the days-to-cover ratio is currently 10.1 days.

Analysts set new price targets

Separately, Credit Suisse Group dropped their target price on Sarcos Technology and Robotics from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Wednesday, March 30th.

Insider Buying and Selling

In other Sarcos Technology and Robotics news, Director Brian D. Finn bought 30,000 shares of the business’s stock in a transaction dated Friday, May 13th. The shares were purchased at an average cost of $3.74 per share, with a total value of $112,200.00. Following the purchase, the director now directly owns 42,315 shares of the company’s stock, valued at approximately $158,258.10. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Brian D. Finn acquired 30,000 shares of the stock in a transaction dated Friday, May 13th. The shares were purchased at an average cost of $3.74 per share, with a total value of $112,200.00. Following the purchase, the director now directly owns 42,315 shares in the company, valued at approximately $158,258.10. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Brian D. Finn bought 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The stock was bought at an average price of $2.92 per share, for a total transaction of $43,800.00. Following the completion of the transaction, the director now directly owns 77,315 shares in the company, valued at $225,759.80. Disclosure for this purchase can be found here. Insiders purchased 65,000 shares of company stock valued at $232,400 over the last 90 days. 23.20% of the shares are owned by insiders.

Institutional inflows and outflows

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Hedge funds have recently bought and sold shares of the company. Citigroup Inc. acquired a new position in Sarcos Technology and Robotics during the first quarter worth approximately $33,000. First Republic Investment Management Inc. acquired a new stake in Sarcos Technology and Robotics during the 1st quarter valued at approximately $83,000. Victory Capital Management Inc. acquired a new stake in Sarcos Technology and Robotics during the fourth quarter valued at about $120,000. Bank of America Corp DE boosted its position in Sarcos Technology and Robotics by 461.5% during the first quarter. Bank of America Corp DE now owns 18,709 shares of the company’s stock valued at $125,000 after purchasing an additional 15,377 shares during the period. Finally, Mirabella Financial Services LLP acquired a new stake in Sarcos Technology and Robotics during the 4th quarter valued at about $126,000. 35.31% of the shares are owned by institutional investors and hedge funds.

Sarcos Technology and Robotics Price Performance

Shares of STRC traded up $0.02 during trading hours on Friday, reaching $2.97. 247,349 shares of the company’s stock traded hands, compared to its average volume of 702,622. Sarcos Technology and Robotics has a twelve month low of $2.51 and a twelve month high of $11.80. The business’s fifty day simple moving average is $3.38 and the two hundred day simple moving average is $5.28.

Sarcos Technology and Robotics (NASDAQ:STRC – Get Rating ) last issued its earnings results on Wednesday, May 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.18). The firm had revenue of $0.74 million for the quarter, compared to analyst estimates of $1.50 million. equities analysts predict that Sarcos Technology and Robotics will post -0.49 EPS for the current year.

Sarcos Technology and Robotics Company Profile

(Get rating)

Sarcos Corp., a robotics and sensors company, designs, builds and manufactures agile tele-operated robotic systems. Its products include Guardian S, an unmanned ground vehicle for safety, inspection and non-destructive testing available in a Robot-as-a-Service offering; Guardian GT, a human-controlled large arm or two-arm robot system mounted on an agile tracked vehicle base for commercial, industrial and first response environments; and Guardian XO, a robot that features an exoskeleton suit; SenSuit control suit for enhanced teleoperation of the Guardian XT (a highly agile mobile robotic system); and humanoid solutions.

Further reading

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