Brokerages expect HTG Molecular Diagnostics Inc (NASDAQ:HTGM) to report $5.63 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for HTG Molecular Diagnostics’ earnings. The highest sales estimate is $5.75 million and the lowest is $5.50 million. HTG Molecular Diagnostics posted sales of $4.71 million in the same quarter last year, which suggests a positive year over year growth rate of 19.5%. The firm is expected to announce its next earnings results after the market closes on Tuesday, November 12th.
According to Zacks, analysts expect that HTG Molecular Diagnostics will report full year sales of $24.21 million for the current year, with estimates ranging from $24.00 million to $24.42 million. For the next financial year, analysts anticipate that the firm will report sales of $31.86 million, with estimates ranging from $31.00 million to $32.72 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for HTG Molecular Diagnostics.
Several research analysts have recently issued reports on HTGM shares. HC Wainwright dropped their target price on shares of HTG Molecular Diagnostics from $8.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Canaccord Genuity set a $1.50 target price on shares of HTG Molecular Diagnostics and gave the stock a “buy” rating in a research note on Thursday, September 26th. Craig Hallum set a $3.00 target price on shares of HTG Molecular Diagnostics and gave the stock a “buy” rating in a research note on Friday, September 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of HTG Molecular Diagnostics in a research note on Friday, October 18th. Finally, Zacks Investment Research downgraded shares of HTG Molecular Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. HTG Molecular Diagnostics presently has a consensus rating of “Buy” and a consensus price target of $3.50.
Shares of NASDAQ HTGM opened at $0.79 on Tuesday. The firm’s 50 day moving average price is $0.81 and its 200-day moving average price is $1.43. The company has a market cap of $49.85 million, a PE ratio of -1.32 and a beta of 1.68. HTG Molecular Diagnostics has a 52-week low of $0.60 and a 52-week high of $3.90. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.34 and a current ratio of 3.49.
A number of institutional investors have recently modified their holdings of the stock. Perkins Capital Management Inc. lifted its position in HTG Molecular Diagnostics by 297.1% during the third quarter. Perkins Capital Management Inc. now owns 2,353,153 shares of the medical research company’s stock valued at $1,564,000 after purchasing an additional 1,760,533 shares during the period. Vanguard Group Inc. lifted its position in HTG Molecular Diagnostics by 20.0% during the second quarter. Vanguard Group Inc. now owns 1,453,160 shares of the medical research company’s stock valued at $2,413,000 after purchasing an additional 242,497 shares during the period. BlackRock Inc. lifted its position in HTG Molecular Diagnostics by 504.3% during the second quarter. BlackRock Inc. now owns 405,837 shares of the medical research company’s stock valued at $673,000 after purchasing an additional 338,681 shares during the period. Citadel Advisors LLC lifted its position in HTG Molecular Diagnostics by 153.9% during the second quarter. Citadel Advisors LLC now owns 38,525 shares of the medical research company’s stock valued at $64,000 after purchasing an additional 23,351 shares during the period. Finally, Alambic Investment Management L.P. bought a new position in HTG Molecular Diagnostics during the second quarter valued at approximately $38,000. Institutional investors own 27.21% 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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