Sarcos Technology and Robotics Corporation (NASDAQ: STRC) 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 is a decrease of 18.0% from the previous total of 363,600 shares on August 15th. This translates to a short-interest ratio of 1.1 days based on the average daily trading volume of 266,500 shares. Currently, 2.2% of the company’s stock is being sold short.
Shares of Sarcos Technology and Robotics opened at $0.76 on Friday. The company has a market capitalization of $19.48 million and a beta of 2.08. The 12-month low and high for the stock are $0.76 and $17.61, respectively. The 50-day simple moving average is $1.38, while the 200-day simple moving average is $2.13.
In terms of earnings, Sarcos Technology and Robotics reported earnings per share (EPS) of ($0.94) for the most recent quarter, falling short of analysts’ consensus estimates of ($0.78) by ($0.16). The company had a negative net margin of 1,148.57% and a negative return on equity of 55.08%. Revenue for the quarter was $1.28 million, compared to analyst estimates of $2.10 million. Analysts predict that Sarcos Technology and Robotics will post an EPS of -2.91 for the current fiscal year.
Several equities research analysts have provided their insights on Sarcos Technology and Robotics. Robert W. Baird lowered their price target on the stock from $12.00 to $3.00, while Jefferies Financial Group downgraded the stock from a “buy” rating to a “hold” rating.
In terms of institutional investors, Steel Partners Holdings L.P. acquired a new position in the company worth $1,208,000, while BlackRock Inc. increased its position by 28.2% and Vanguard Group Inc. by 44.8%. State Street Corp and Northern Trust Corp also significantly increased their positions in the company.
Sarcos Technology and Robotics Corporation designs, develops, and manufactures a wide range of advanced mobile robotic systems. These systems are intended to operate in challenging, unstructured, industrial environments and include teleoperated robots, powered exoskeletons, and software solutions that enable task autonomy.
– Nasdaq: https://www.nasdaq.com/market-activity/stocks/strc/short-interest
– MarketBeat: https://www.marketbeat.com/stocks/NASDAQ/STRC/short-interest/