Zacks Investment Research Lowers HTG Molecular Diagnostics (NASDAQ:HTGM) to Hold

Zacks Investment Research cut shares of HTG Molecular Diagnostics (NASDAQ:HTGM) from a buy rating to a hold rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “HTG Molecular Diagnostics, Inc. is engaged in developing and marketing a technology platform which consists of instrumentation, consumables and software analytics for sample profiling applications including tumor profiling, molecular diagnostic testing and biomarker development. Its products include HTG Edge System, HTG Edge Assays and HTG Assay Direct. HTG Molecular Diagnostics, Inc. is headquartered in Tucson, Arizona. “

A number of other equities research analysts have also recently weighed in on HTGM. Canaccord Genuity boosted their price target on shares of TransAlta Renewables from C$13.00 to C$13.50 in a research report on Tuesday, May 14th. Cantor Fitzgerald set a $6.00 price target on shares of HTG Molecular Diagnostics and gave the company a buy rating in a research report on Monday, April 8th. HC Wainwright restated a buy rating on shares of CytoDyn in a research note on Tuesday, June 18th. Finally, ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. HTG Molecular Diagnostics has an average rating of Buy and a consensus price target of $6.00.

HTGM traded up $0.02 on Tuesday, reaching $1.47. The company had a trading volume of 17,312 shares, compared to its average volume of 258,698. HTG Molecular Diagnostics has a 1 year low of $1.44 and a 1 year high of $5.46. The company has a market cap of $42.06 million, a PE ratio of -2.44 and a beta of 1.56. The company has a debt-to-equity ratio of 0.63, a current ratio of 6.30 and a quick ratio of 6.05. The stock’s 50-day simple moving average is $1.81.

HTG Molecular Diagnostics (NASDAQ:HTGM) last announced its quarterly earnings results on Thursday, May 9th. The medical research company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). HTG Molecular Diagnostics had a negative net margin of 80.03% and a negative return on equity of 75.50%. The company had revenue of $3.20 million during the quarter, compared to analysts’ expectations of $2.77 million. On average, equities analysts expect that HTG Molecular Diagnostics will post -0.62 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of HTGM. Jane Street Group LLC acquired a new position in shares of HTG Molecular Diagnostics during the fourth quarter worth about $27,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of HTG Molecular Diagnostics during the fourth quarter worth about $29,000. Cowen Prime Services LLC acquired a new position in shares of HTG Molecular Diagnostics during the first quarter worth about $50,000. Millennium Management LLC acquired a new position in shares of HTG Molecular Diagnostics during the fourth quarter worth about $151,000. Finally, BlackRock Inc. increased its stake in shares of HTG Molecular Diagnostics by 16.4% during the fourth quarter. BlackRock Inc. now owns 88,565 shares of the medical research company’s stock worth $225,000 after acquiring an additional 12,448 shares during the period. Institutional investors own 45.04% of the company’s stock.

HTG Molecular Diagnostics Company Profile

HTG Molecular Diagnostics, Inc a commercial stage life sciences company, focuses on the precision medicine. The company offers instrumentation (or platforms); consumables comprising assay kits; and software analytics that automate sample processing and profiles various molecular targets. Its platforms generate a molecular profiling library for detection using next-generation sequencing.

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