Wall Street brokerages forecast that HTG Molecular Diagnostics Inc (NASDAQ:HTGM) will post $5.14 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for HTG Molecular Diagnostics’ earnings. The lowest sales estimate is $5.10 million and the highest is $5.17 million. HTG Molecular Diagnostics posted sales of $3.72 million during the same quarter last year, which suggests a positive year over year growth rate of 38.2%. The firm is scheduled to issue its next earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that HTG Molecular Diagnostics will report full-year sales of $21.75 million for the current year, with estimates ranging from $21.00 million to $22.50 million. For the next financial year, analysts anticipate that the firm will report sales of $27.97 million per share, with estimates ranging from $24.13 million to $31.80 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for HTG Molecular Diagnostics.
HTG Molecular Diagnostics (NASDAQ:HTGM) last posted its earnings results on Thursday, August 9th. The medical research company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $4.91 million during the quarter, compared to analyst estimates of $5.30 million. HTG Molecular Diagnostics had a negative net margin of 81.10% and a negative return on equity of 132.67%.
A number of analysts have recently weighed in on the stock. ValuEngine raised shares of HTG Molecular Diagnostics from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. HC Wainwright set a $7.00 price target on shares of HTG Molecular Diagnostics and gave the stock a “buy” rating in a research note on Tuesday, May 22nd. Finally, Zacks Investment Research raised shares of HTG Molecular Diagnostics from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Tuesday, August 14th. Five equities research analysts have rated the stock with a buy rating, HTG Molecular Diagnostics presently has a consensus rating of “Buy” and an average price target of $6.00.
Several large investors have recently modified their holdings of the company. Granahan Investment Management Inc. MA lifted its stake in HTG Molecular Diagnostics by 14.1% during the second quarter. Granahan Investment Management Inc. MA now owns 915,449 shares of the medical research company’s stock valued at $2,984,000 after purchasing an additional 112,928 shares during the last quarter. Putnam Investments LLC lifted its stake in HTG Molecular Diagnostics by 31.4% during the second quarter. Putnam Investments LLC now owns 1,387,883 shares of the medical research company’s stock valued at $4,524,000 after purchasing an additional 331,690 shares during the last quarter. Stonepine Capital Management LLC acquired a new stake in HTG Molecular Diagnostics during the second quarter valued at approximately $5,506,000. FMR LLC lifted its stake in HTG Molecular Diagnostics by 0.8% during the second quarter. FMR LLC now owns 3,488,045 shares of the medical research company’s stock valued at $11,371,000 after purchasing an additional 27,700 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in HTG Molecular Diagnostics by 322.8% during the second quarter. BlackRock Inc. now owns 73,044 shares of the medical research company’s stock valued at $238,000 after purchasing an additional 55,769 shares during the last quarter. 49.17% of the stock is owned by institutional investors.
Shares of NASDAQ:HTGM traded up $0.08 during trading on Friday, reaching $4.08. The company had a trading volume of 474,097 shares, compared to its average volume of 1,102,207. The firm has a market cap of $117.95 million, a P/E ratio of -2.23 and a beta of 1.81. HTG Molecular Diagnostics has a twelve month low of $1.65 and a twelve month high of $5.83. The company has a current ratio of 9.50, a quick ratio of 9.29 and a debt-to-equity ratio of 0.35.
About HTG Molecular Diagnostics
HTG Molecular Diagnostics, Inc develops and markets products and services based on proprietary technology that facilitates the routine use of targeted molecular profiling. The company offers instrumentation (or platforms); consumables comprising assay kits; and software analytics that automate sample processing and profiles various molecular targets.
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