Fulgent Genetics Inc (NASDAQ:FLGT) rose 11.2% on Thursday . The stock traded as high as $13.93 and last traded at $13.64, approximately 466,300 shares changed hands during trading. An increase of 391% from the average daily volume of 94,978 shares. The stock had previously closed at $12.27.
FLGT has been the subject of several recent research reports. Piper Jaffray Companies raised Fulgent Genetics from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $9.50 to $12.30 in a report on Tuesday, November 5th. Zacks Investment Research downgraded Fulgent Genetics from a “strong-buy” rating to a “hold” rating and set a $14.00 price target for the company. in a report on Tuesday, October 8th. Finally, ValuEngine raised Fulgent Genetics from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $13.15.
The company has a quick ratio of 9.22, a current ratio of 9.22 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $11.55 and a 200 day simple moving average of $9.52. The company has a market cap of $229.57 million, a price-to-earnings ratio of -71.79 and a beta of 1.02.
Fulgent Genetics (NASDAQ:FLGT) last released its earnings results on Monday, November 4th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. Fulgent Genetics had a negative return on equity of 0.16% and a negative net margin of 3.52%. The company had revenue of $10.35 million during the quarter, compared to the consensus estimate of $8.48 million. Equities analysts anticipate that Fulgent Genetics Inc will post 0.06 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new stake in Fulgent Genetics in the third quarter valued at $27,000. BlackRock Inc. lifted its holdings in Fulgent Genetics by 15.9% in the second quarter. BlackRock Inc. now owns 16,607 shares of the company’s stock valued at $111,000 after acquiring an additional 2,281 shares during the period. River & Mercantile Asset Management LLP purchased a new position in shares of Fulgent Genetics in the second quarter valued at $1,034,000. Finally, Raymond James Trust N.A. purchased a new position in shares of Fulgent Genetics in the third quarter valued at $5,195,000. 15.65% of the stock is owned by institutional investors.
About Fulgent Genetics (NASDAQ:FLGT)
Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, learning software, and genetic diagnostics tools and integrated laboratory processes.
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