The stock of Abaxis Corporation (NASDAQ:ABAX) registered an increase of 0.77% in short interest. ABAX’s total short interest was 2.39M shares in September as published by FINRA. Its up 0.77% from 2.37 million shares, reported previously. With 85,000 shares average volume, it will take short sellers 28 days to cover their ABAX’s short positions. The short interest to Abaxis Corporation’s float is 11.1%. About 8,359 shares traded hands. Abaxis Inc (NASDAQ:ABAX) has risen 20.40% since February 8, 2016 and is uptrending. It has outperformed by 3.91% the S&P500.
Abaxis, Inc. is a developer, manufacturer and marketer of portable blood analysis systems that are used in medical specialties in human or veterinary patient care to provide clinicians with blood constituent measurements. The company has a market cap of $1.09 billion. The Firm markets and sells its products around the world through independent distributors and direct sales force. It has a 35.19 P/E ratio. The Company’s divisions are the medical market and the veterinary market.
The institutional sentiment decreased to 1.07 in 2016 Q2. Its down 0.01, from 1.08 in 2016Q1. The ratio turned negative, as 19 funds sold all Abaxis Inc shares owned while 40 reduced positions. 11 funds bought stakes while 52 increased positions. They now own 22.80 million shares or 1.87% more from 22.38 million shares in 2016Q1.
Brown Capital Management Llc holds 2.83% of its portfolio in Abaxis Inc for 3.79 million shares. Kayne Anderson Rudnick Investment Management Llc owns 2.45 million shares or 1.74% of their US portfolio. Moreover, Conestoga Capital Advisors Llc has 1.5% invested in the company for 429,127 shares. The Pennsylvania-based Copeland Capital Management Llc has invested 1.16% in the stock. Ami Asset Management Corp, a California-based fund reported 196,570 shares.
Out of 6 analysts covering Abaxis Inc (NASDAQ:ABAX), 0 rate it a “Buy”, 3 “Sell”, while 3 “Hold”. This means 0 are positive. $53.0 is the highest target while $39 is the lowest. The $42 average target is -12.01% below today’s ($47.73) stock price. Abaxis Inc has been the topic of 10 analyst reports since October 16, 2015 according to StockzIntelligence Inc. Feltl & Co downgraded the stock on July 22 to “Sell” rating. CL King initiated the shares of ABAX in a report on April 1 with “Neutral” rating.
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