Today’s Stock On Watch: Will Iradimed Corp Short Squeeze Soon?

Today's Stock On Watch: Will Iradimed Corp Short Squeeze Soon?

The stock of Iradimed Corp (NASDAQ:IRMD) hit a new 52-week low and has $9.93 target or 11.00% below today’s $11.16 share price. The 8 months bearish chart indicates high risk for the $119.25 million company. The 1-year low was reported on Oct, 4 by If the $9.93 price target is reached, the company will be worth $13.12 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 317,218 shares traded hands or 450.26% up from the average. Iradimed Corp (NASDAQ:IRMD) has declined 4.22% since March 1, 2016 and is downtrending. It has underperformed by 13.47% the S&P500.

Analysts await Iradimed Corp (NASDAQ:IRMD) to report earnings on November, 4. They expect $0.23 earnings per share, up 43.75% or $0.07 from last year’s $0.16 per share. IRMD’s profit will be $2.46 million for 12.13 P/E if the $0.23 EPS becomes a reality. After $0.19 actual earnings per share reported by Iradimed Corp for the previous quarter, Wall Street now forecasts 21.05% EPS growth.

Iradimed Corp (NASDAQ:IRMD) Ratings Coverage

Out of 2 analysts covering iRadimed (NASDAQ:IRMD), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $30 is the highest target while $25 is the lowest. The $27.50 average target is 146.42% above today’s ($11.16) stock price. iRadimed has been the topic of 4 analyst reports since July 30, 2015 according to StockzIntelligence Inc. As per Monday, November 2, the company rating was maintained by Roth Capital. The firm has “Buy” rating by TH Capital given on Thursday, July 30. The firm has “Buy” rating given on Monday, April 4 by Roth Capital. The firm has “Buy” rating given on Monday, November 2 by TH Capital.

According to Zacks Investment Research, “iRadimed Corporation engages in developing, manufacturing, marketing, and distributing magnetic resonance imaging (MRI) compatible products. It offers non-magnetic intravenous (IV) infusion pump systems, IV tubing sets, IV poles, wireless remote displays/controls under the mRidium name; side car pump modules; dose error reduction systems; Masimo SET SpO2 monitoring products; and MRI Pulse oximeters, and MRI oximeter remotes and displays under the iMagox name used during MRI procedures. iRadimed Corporation is headquartered in Winter Park, Florida.”

Insitutional Activity: The institutional sentiment decreased to 1.13 in Q2 2016. Its down 0.27, from 1.4 in 2016Q1. The ratio fall, as 15 funds sold all Iradimed Corp shares owned while 16 reduced positions. 8 funds bought stakes while 27 increased positions. They now own 2.15 million shares or 23.57% less from 2.82 million shares in 2016Q1.
Navellier And has 0.03% invested in the company for 10,000 shares. Moreover, Morgan Stanley has 0% invested in Iradimed Corp (NASDAQ:IRMD) for 13,732 shares. Moreover, Numeric Invsts Ltd Llc has 0% invested in Iradimed Corp (NASDAQ:IRMD) for 17,800 shares. Blackrock has invested 0% of its portfolio in Iradimed Corp (NASDAQ:IRMD). Menta Cap holds 0.13% or 41,919 shares in its portfolio. Oxford Asset has 43,742 shares for 0.04% of their US portfolio. Fincl Architects last reported 1 shares in the company. Mckinley Ltd Llc Delaware, a Unknown-based fund reported 89,582 shares. Bnp Paribas Arbitrage has 0% invested in the company for 160 shares. Ativo Capital Mngmt Ltd Llc last reported 57,347 shares in the company. Glenmede Trust Com Na, a Pennsylvania-based fund reported 375 shares. Aqr Management Limited Liability last reported 0% of its portfolio in the stock. Vanguard Inc has invested 0% of its portfolio in Iradimed Corp (NASDAQ:IRMD). Wasatch Advsrs has 0.03% invested in the company for 84,000 shares. Fincl Bank Of New York Mellon has 0% invested in the company for 22,065 shares.

Insider Transactions: Since June 9, 2016, the stock had 0 buys, and 4 sales for $564,366 net activity. $440,078 worth of shares were sold by Waldman Louis S. on Wednesday, August 31. ALLEN MONTY K sold $42,931 worth of Iradimed Corp (NASDAQ:IRMD) on Thursday, June 9. Nardi Steven M. sold $35,857 worth of Iradimed Corp (NASDAQ:IRMD) on Monday, August 15.

More notable recent Iradimed Corp (NASDAQ:IRMD) news were published by: which released: “Iradimed Corp. (IRMD) Cuts Q3, FY16 Outlook” on October 04, 2016, also with their article: “IRadimed Corp. (IRMD) CEO Roger Susi on Q2 2016 Results – Earnings Call Transcript” published on July 31, 2016, published: “iRadimed Corporation – MRI Compatible IV Infusion Pump Quickly Becoming A …” on August 16, 2016. More interesting news about Iradimed Corp (NASDAQ:IRMD) were released by: and their article: “iRadimed: A Niche Medical Device Company With 55%+ Upside Potential” published on August 17, 2016 as well as‘s news article titled: “Iradimed: Significant Insider Selling Leads To Major Questions For Investors” with publication date: December 11, 2015.

IRMD Company Profile

IRADIMED CORPORATION (IRADIMED), incorporated on April 8, 2014, develops, makes, markets and distributes Magnetic Resonance Imaging (MRI) compatible products, and provides non-magnetic intravenous (IV) infusion pump systems. The Firm operates through development, manufacture and sale of MRI compatible products and IV infusion pump systems for use by hospitals and acute care facilities during MRI procedures segment. The Company’s MRidium MRI compatible IV infusion pump system has been designed with a non-magnetic ultrasonic motor, non-ferrous parts and other features in order to deliver anesthesia and other IV fluids during various MRI procedures. Each system consists of MRidium MRI compatible IV infusion pump, non-magnetic mobile stand and disposable IV tubing sets.

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