Quanterix Corporation (NASDAQ: QTRX) stock jumped 14.75% on Friday to $8.56 against a previous-day closing price of $7.46. With 4.67 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.57 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $8.86 whereas the lowest price it dropped to was $7.55. The 52-week range on QTRX shows that it touched its highest point at $60.92 and its lowest point at $6.31 during that stretch. It currently has a 1-year price target of $34.50. Beta for the stock currently stands at 1.45.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of QTRX was down-trending over the past week, with a drop of -49.74%, but this was down by -52.89% over a month. Three-month performance dropped to -49.11% while six-month performance fell -73.87%. The stock lost -83.36% in the past year, while it has lost -79.81% so far this year. A look at the trailing 12-month EPS for QTRX yields -1.79 with Next year EPS estimates of -2.38. For the next quarter, that number is -0.48. This implies an EPS growth rate of -50.40% for this year and -6.20% for next year.
Float and Shares Shorts:
At present, 36.85 million QTRX shares are outstanding with a float of 34.25 million shares on hand for trading. On Jul 14, 2022, short shares totaled 1.02 million, which was 2.78% higher than short shares on Jun 14, 2022. In addition to Mr. E. Kevin Hrusovsky as the firm’s Exec. Chairman, Dr. Masoud Toloue Ph.D. serves as its Pres, CEO & Director.
Institutional Ownership:
Through their ownership of 87.37% of QTRX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 44.23% of QTRX, in contrast to 42.84% held by mutual funds. Shares owned by individuals account for 26.59%. As the largest shareholder in QTRX with 7.20% of the stake, Macquarie Investment Management B holds 2,659,037 shares worth 2,659,037. A second-largest stockholder of QTRX, Gilder, Gagnon, Howe & Co. LLC, holds 2,251,472 shares, controlling over 6.10% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in QTRX, holding 2,074,481 shares or 5.62% stake. With a 6.62% stake in QTRX, the Delaware Smid Cap Growth Fund is the largest stakeholder. A total of 2,441,824 shares are owned by the mutual fund manager. The Fidelity Select Medical Technolog, which owns about 3.47% of QTRX stock, is the second-largest Mutual Fund holder. It holds 1,280,000 shares valued at 20.72 million. Vanguard Total Stock Market Index holds 2.63% of the stake in QTRX, owning 969,609 shares worth 15.7 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2022, QTRX reported revenue of $23.43M and operating income of -$24.96M. Over the past year, revenue came in at $108.97M while operating income stood at -$78.28M. It generated -$24.90M net income for the quarter, which came to -$78.74M over the last twelve months. The EBITDA in the recently reported quarter was -$23.53M and diluted EPS was -$0.67. EBITDA for the full year was -$72.98M.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for QTRX since 4 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With QTRX analysts setting a high price target of $40.00 and a low target of $15.00, the average target price over the next 12 months is $22.00. Based on these targets, QTRX could surge 367.29% to reach the target high and rise by 75.23% to reach the target low. Reaching the average price target will result in a growth of 157.01% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. QTRX will report FY 2022 earnings on 03/14/2023. Analysts have provided yearly estimates in a range of -$1.73 being high and -$2.13 being low. For QTRX, this leads to a yearly average estimate of -$1.95. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Quanterix Corporation surprised analysts by -$0.10 when it reported -$0.67 EPS against a consensus estimate of -$0.57. The surprise factor in the prior quarter was $0.12. Based on analyst estimates, the high estimate for the next quarter is -$0.29 and the low estimate is -$0.54. The average estimate for the next quarter is thus -$0.39.
Summary of Insider Activity:
Insiders traded QTRX stock several times over the past three months with 5 Buys and 6 Sells. In these transactions, 15,996 shares were bought while 8,433 shares were sold. The number of buy transactions has increased to 33 while that of sell transactions has risen to 95 over the past year. The total number of shares bought during that period was 201,822 while 1,000,912 shares were sold.
