Pro-Dex Inc (NASDAQ:PDEX) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 10,000 shares, a decrease of 17.4% from the July 31st total of 12,100 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average trading volume of 16,500 shares, the days-to-cover ratio is currently 0.6 days.

Separately, ValuEngine downgraded Pro-Dex from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its stake in shares of Pro-Dex by 21.9% during the 2nd quarter. Acadian Asset Management LLC now owns 91,706 shares of the medical instruments supplier’s stock worth $1,190,000 after acquiring an additional 16,453 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Pro-Dex by 23.3% during the 2nd quarter. Vanguard Group Inc. now owns 83,355 shares of the medical instruments supplier’s stock worth $1,082,000 after acquiring an additional 15,751 shares in the last quarter. Alambic Investment Management L.P. boosted its stake in Pro-Dex by 6.2% during the 1st quarter. Alambic Investment Management L.P. now owns 73,583 shares of the medical instruments supplier’s stock valued at $1,065,000 after purchasing an additional 4,291 shares during the period. BlackRock Inc. boosted its stake in Pro-Dex by 302.5% during the 2nd quarter. BlackRock Inc. now owns 63,451 shares of the medical instruments supplier’s stock valued at $824,000 after purchasing an additional 47,685 shares during the period. Finally, Deutsche Bank AG boosted its stake in Pro-Dex by 146.7% during the 4th quarter. Deutsche Bank AG now owns 42,606 shares of the medical instruments supplier’s stock valued at $514,000 after purchasing an additional 25,333 shares during the period. Institutional investors own 15.29% of the company’s stock.

Shares of PDEX traded up $0.25 during trading hours on Friday, hitting $15.40. 49,628 shares of the company were exchanged, compared to its average volume of 25,807. The company has a market cap of $62.39 million, a PE ratio of 19.20 and a beta of 1.49. The firm’s 50 day moving average is $14.06 and its 200-day moving average is $14.00. Pro-Dex has a 52 week low of $8.01 and a 52 week high of $17.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.60 and a current ratio of 5.88.

Pro-Dex Company Profile

Pro-Dex, Inc, together with its subsidiaries, designs, develops, and manufactures powered surgical instruments, dental instruments, and rotary air motors worldwide. It also manufactures plastic injection molds for various industries; and shavers and machined parts. In addition, it provides engineering, and quality and regulatory consulting services.

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