Today’s Shorts Alert: Could Abaxis Corporation (NASDAQ:ABAX) Skyrocket? The Stock Had Too Little Sellers

November 23, 2016 - By Linda Rogers   ·   0 Comments

Today's Shorts Alert: Could Abaxis Corporation (NASDAQ:ABAX) Skyrocket? The Stock Had Too Little Sellers

The stock of Abaxis Corporation (NASDAQ:ABAX) registered a decrease of 2.55% in short interest. ABAX’s total short interest was 2.50M shares in November as published by FINRA. Its down 2.55% from 2.56 million shares, reported previously. With 193,700 shares average volume, it will take short sellers 13 days to cover their ABAX’s short positions. The short interest to Abaxis Corporation’s float is 11.58%. The stock decreased 1.67% or $0.87 during the last trading session, hitting $51.38. Abaxis Inc (NASDAQ:ABAX) has risen 12.31% since April 21, 2016 and is uptrending. It has outperformed by 6.98% 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 $1.16 billion. The Firm markets and sells its products around the world through independent distributors and direct sales force. It has a 33.82 P/E ratio. The Company’s divisions are the medical market and the veterinary market.

Insitutional Activity: The institutional sentiment increased to 1.24 in 2016 Q2. Its up 0.17, from 1.07 in 2016Q1. The ratio improved, 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.
Swiss Natl Bank has invested 0% of its portfolio in Abaxis Inc (NASDAQ:ABAX). Moreover, Envestnet Asset Inc has 0% invested in Abaxis Inc (NASDAQ:ABAX) for 5,290 shares. Texas Permanent School Fund has 0.01% invested in the company for 16,172 shares. Bankshares Of New York Mellon last reported 274,750 shares in the company. The New York-based Blackrock has invested 0% in Abaxis Inc (NASDAQ:ABAX). Fred Alger Management accumulated 313,748 shares or 0.08% of the stock. Kayne Anderson Rudnick Investment Lc has 1.74% invested in the company for 2.45 million shares. Nationwide Fund Advsr has 0.03% invested in the company for 148,900 shares. Raymond James & Associate has 72,788 shares for 0.01% of their US portfolio. The California-based California Pub Employees Retirement Systems has invested 0.01% in Abaxis Inc (NASDAQ:ABAX). Great West Life Assurance Can last reported 0% of its portfolio in the stock. Copeland Capital Management Lc owns 357,070 shares or 1.16% of their US portfolio. The New York-based Renaissance Technologies Limited Liability has invested 0.02% in Abaxis Inc (NASDAQ:ABAX). Morgan Stanley holds 0% or 19,992 shares in its portfolio. Louisiana State Employees Retirement holds 0.02% of its portfolio in Abaxis Inc (NASDAQ:ABAX) for 9,400 shares.

Insider Transactions: Since June 8, 2016, the stock had 0 insider buys, and 6 selling transactions for $1.03 million net activity. The insider SINGH PRITHIPAL sold 1,000 shares worth $49,500. EVENHUIS HENK sold $150,000 worth of stock. Shares for $233,736 were sold by BASTIANI RICHARD. WOOD DONALD PETER had sold 8,500 shares worth $426,778 on Tuesday, August 23. $96,582 worth of Abaxis Inc (NASDAQ:ABAX) was sold by SEVERSON CLINTON.

Abaxis Inc (NASDAQ:ABAX) Ratings Coverage

Out of 6 analysts covering Abaxis (NASDAQ:ABAX), 0 rate it a “Buy”, 3 “Sell”, while 3 “Hold”. This means 0 are positive. $62 is the highest target while $39 is the lowest. The $42 average target is -18.26% below today’s ($51.38) stock price. Abaxis has been the topic of 11 analyst reports since July 23, 2015 according to StockzIntelligence Inc. As per Thursday, October 29, the company rating was maintained by Canaccord Genuity. Credit Suisse initiated it with “Underperform” rating and $39 target price in Thursday, February 4 report. The rating was initiated by CL King with “Neutral” on Friday, April 1. Canaccord Genuity maintained Abaxis Inc (NASDAQ:ABAX) on Thursday, November 12 with “Hold” rating. The company was maintained on Thursday, July 23 by Canaccord Genuity. The rating was maintained by Canaccord Genuity with “Hold” on Friday, April 1. As per Wednesday, October 21, the company rating was downgraded by Bank of America. Feltl & Co downgraded Abaxis Inc (NASDAQ:ABAX) on Friday, July 22 to “Sell” rating.

ABAX Company Profile

Abaxis, Inc., incorporated on January 12, 1989, is a developer, maker 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 Firm markets and sells its products around the world through independent distributors and direct sales force. The Company’s divisions are the medical market and the veterinary market. The Company’s subsidiary, Abaxis Europe GmbH, markets and distributes diagnostic systems for medical and veterinary uses in the European and Asia Pacific markets.

More news for Abaxis Inc (NASDAQ:ABAX) were recently published by: Prnewswire.com, which released: “Abaxis Reports Financial Performance for the Second Quarter of Fiscal 2017” on October 25, 2016. Prnewswire.com‘s article titled: “Abaxis, Inc. And Banfield Pet Hospital® Enter Into Exclusive Five-Year Supply …” and published on November 11, 2015 is yet another important article.

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By Linda Rogers


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