Healthy Upside Potential: Accelerate Diagnostics Inc. (AXDX)

Accelerate Diagnostics Inc. (NASDAQ: AXDX) stock jumped 0.03% on Wednesday to $0.95 against a previous-day closing price of $0.95. With 0.42 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.52 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $0.9891 whereas the lowest price it dropped to was $0.8507. The 52-week range on AXDX shows that it touched its highest point at $5.65 and its lowest point at $0.50 during that stretch. It currently has a 1-year price target of $2.00. Beta for the stock currently stands at 1.17.

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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 AXDX was down-trending over the past week, with a drop of -15.50%, but this was down by -16.98% over a month. Three-month performance dropped to -44.33% while six-month performance rose 72.51%. The stock lost -81.76% in the past year, while it has lost -81.87% so far this year. A look at the trailing 12-month EPS for AXDX yields -0.97 with Next year EPS estimates of -0.54. For the next quarter, that number is -0.15. This implies an EPS growth rate of 9.80% for this year and 30.30% for next year. EPS is expected to grow by 30.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 0.60%.

Float and Shares Shorts:

At present, 87.01 million AXDX shares are outstanding with a float of 73.31 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.82 million, which was 4.86% higher than short shares on Sep 14, 2022. In addition to Mr. Jack Phillips as the firm’s CEO, Pres & Director, Mr. Steve Reichling serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 22.47% of AXDX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of AXDX, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 2.26% stake in AXDX, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,234,561 shares are owned by the mutual fund manager. The AXA IM AXA IM Global Robot Relate, which owns about 0.68% of AXDX stock, is the second-largest Mutual Fund holder. It holds 676,167 shares valued at 0.86 million. Vanguard Extended Market Index Fu holds 0.54% of the stake in AXDX, owning 531,960 shares worth 0.68 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AXDX since 2 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 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 AXDX analysts setting a high price target of $2.00 and a low target of $2.00, the average target price over the next 12 months is $2.00. Based on these targets, AXDX could surge 110.53% to reach the target high and rise by 110.53% to reach the target low. Reaching the average price target will result in a growth of 110.53% 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. AXDX will report FY 2022 earnings on 03/01/2023. Analysts have provided yearly estimates in a range of -$0.77 being high and -$0.79 being low. For AXDX, this leads to a yearly average estimate of -$0.78. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Accelerate Diagnostics Inc. surprised analysts by $0.03 when it reported -$0.17 EPS against a consensus estimate of -$0.20. The surprise factor in the prior quarter was $0.10. Based on analyst estimates, the high estimate for the next quarter is -$0.13 and the low estimate is -$0.16. The average estimate for the next quarter is thus -$0.14.

Summary of Insider Activity:

Insiders traded AXDX stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 50,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 1,917,930 while 160,546 shares were sold.

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