India, March 13 -- Shares of OSI Systems, Inc. (OSIS) slipped over 5% on Thursday morning after a report from Culper Research, which announced a short position in the company.
OSIS is currently trading at $171.33, down $10.33 or 5.69%, on the Nasdaq. The stock is trading at $170.69 after closing Thursday on $181.66. The stock has traded between $126.57 and $220.00 in the past 52-week period.
According to reports, Culper's extensive research suggests that OSI Systems has significantly misrepresented its financial position and progress on a major contract with Mexico's Ministry of Defense (SEDENA), which involves the installation of vehicle and cargo screening systems at border crossings.
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