HTG Molecular Diagnostics (NASDAQ:HTGM) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of HTG Molecular Diagnostics (NASDAQ:HTGM) from a hold rating to a sell rating in a research report report published on Thursday morning, 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. “

HTGM has been the topic of several other research reports. ValuEngine upgraded HTG Molecular Diagnostics from a sell rating to a hold rating in a report on Tuesday, December 3rd. Canaccord Genuity set a $1.50 price objective on HTG Molecular Diagnostics and gave the company a buy rating in a report on Thursday, September 26th. Cantor Fitzgerald reiterated an overweight rating on shares of HTG Molecular Diagnostics in a report on Friday, October 18th. Craig Hallum set a $3.00 price objective on HTG Molecular Diagnostics and gave the company a buy rating in a report on Friday, September 27th. Finally, HC Wainwright reiterated a buy rating and set a $2.00 price objective on shares of HTG Molecular Diagnostics in a report on Tuesday. 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. The company currently has a consensus rating of Buy and an average price target of $3.13.

Shares of HTG Molecular Diagnostics stock traded up $0.05 during trading on Thursday, hitting $0.66. 3,662,400 shares of the company were exchanged, compared to its average volume of 609,681. HTG Molecular Diagnostics has a 1-year low of $0.56 and a 1-year high of $3.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.21 and a quick ratio of 5.07. The firm has a market capitalization of $35.35 million, a P/E ratio of -1.14 and a beta of 1.56. The firm’s fifty day moving average price is $0.70 and its 200 day moving average price is $0.90.

HTG Molecular Diagnostics (NASDAQ:HTGM) last released its quarterly earnings data on Tuesday, November 12th. The medical research company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. HTG Molecular Diagnostics had a negative return on equity of 88.60% and a negative net margin of 76.97%. The business had revenue of $5.41 million for the quarter, compared to analysts’ expectations of $5.63 million. As a group, equities research analysts anticipate that HTG Molecular Diagnostics will post -0.56 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in HTGM. BlackRock Inc. lifted its holdings in shares of HTG Molecular Diagnostics by 504.3% during the 2nd 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of HTG Molecular Diagnostics by 20.0% during the 2nd 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 in the last quarter. Citadel Advisors LLC lifted its holdings in shares of HTG Molecular Diagnostics by 153.9% during the 2nd 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 in the last quarter. Finally, Perkins Capital Management Inc. lifted its holdings in shares of HTG Molecular Diagnostics by 297.1% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 38.94% 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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