K2M reported a short interest increase during July, according to a Mideast Times report.
The company had a 45.3 percent increase in short interest from June 30 to July 15, reaching 958,218 shares in the middle of July. The average daily share volume is 74,252, making the days-to-cover ratio around 12.9 days.
Here are five quick facts about the stock:
1. About 8.4 percent of K2M's stock are short sold.
2. Barclays initiated coverage on K2M's shares at the beginning of June, setting an "overweight" rating and $18 price target. On the same day, Cowen and Company separately initiated coverage of K2M shares, setting the same price target but an "outperform" rating. William Blair agreed with Cowen and Company when its analysts initiated coverage.
3. Another five investment analysts rated the stock with a "buy" rating and the company's current average price target is $20.67.
4. The company shares opened at $17.14 on July 30 with a market cap of $649 billion, according to a NASDAQ report. The company's 52-week low is $13.71.
5. In its last financial report, K2M's revenue was up 20.4 percent, reaching $42.3 million. International revenue grew 34.8 percent and domestic revenue was up 15.2 percent. The company completed its initial public offering in May of $120 million and plans to release its next financial report Aug. 6.