Short interest in Inspira Technologies OXY B.H.N. Ltd. (NASDAQ:IINN) increased significantly in December 2023, according to data released on January 1, 2024. As of December 31, the total short interest reached 262,537 shares, marking a 34.0% rise from the 195,948 shares recorded on December 15. With an average daily trading volume of 149,033 shares, the current short-interest ratio stands at approximately 1.8 days.
On the trading front, Inspira Technologies’ stock saw a slight decline of 1.5% on Monday, trading at $0.88. The company experienced a volume of 142,520 shares, which is below its average of 168,483 shares. Financial metrics reveal a quick ratio of 0.90, a current ratio of 1.15, and a debt-to-equity ratio of 0.27. Over the past year, the stock has fluctuated between a low of $0.40 and a high of $1.65. The 50-day and 200-day moving averages are reported at $1.00 and $1.13, respectively.
Institutional Activity and Shareholder Insights
In a notable development, Citadel Advisors LLC acquired a new position in Inspira Technologies during the third quarter, as indicated in their recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 82,567 shares, which are valued at approximately $105,000, representing about 0.65% of the company’s total shares. Currently, institutional investors and hedge funds hold 12.72% of Inspira Technologies’ stock.
Company Overview and Market Position
Inspira Technologies OXY B.H.N. Ltd. is a specialized medical device company focused on the research, development, manufacture, and marketing of respiratory support technologies. These innovations aim to provide alternatives to invasive mechanical ventilation for patients suffering from acute respiratory failure. The company’s flagship product is the augmented respiration technology system, which features a minimally invasive, portable dual lumen cannula. This device is designed to be inserted into the jugular vein and employs extra-corporeal direct blood oxygenation to enhance and stabilize declining oxygen saturation levels.
This recent surge in short interest may reflect market sentiment regarding the company’s prospects as it continues to navigate the competitive landscape in medical technology. Stakeholders will be closely monitoring these developments in the coming weeks.
