T2 Biosystems Inc. (NASDAQ: TTOO) stock fell -33.93% on Wednesday to $0.11 against a previous-day closing price of $0.17. With 30.81 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.3 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $0.1703 whereas the lowest price it dropped to was $0.0977. The 52-week range on TTOO shows that it touched its highest point at $15.00 and its lowest point at $0.17 during that stretch. Beta for the stock currently stands at 0.34.
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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 TTOO was down-trending over the past week, with a drop of -56.80%, but this was down by -66.83% over a month. Three-month performance dropped to -79.63% while six-month performance fell -93.51%. The stock lost -98.91% in the past year, while it has lost -91.91% so far this year. A look at the trailing 12-month EPS for TTOO yields -14.26 with Next year EPS estimates of -2.09. For the next quarter, that number is -1.20. This implies an EPS growth rate of 21.10% for this year and 28.70% for next year.
Float and Shares Shorts:
At present, 20.28 million TTOO shares are outstanding with a float of 20.09 million shares on hand for trading. On Apr 27, 2023, short shares totaled 0.5 million, which was 2.47% higher than short shares on Mar 30, 2023. In addition to Mr. John J. Sperzel III, B.Sc. as the firm’s Pres, CEO & Chairman, Mr. John M. Sprague CPA serves as its Chief Financial Officer.
Through their ownership of 6.97% of TTOO’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 15.74% of TTOO, in contrast to 0.89% held by mutual funds. Shares owned by individuals account for 0.17%. As the largest shareholder in TTOO with 3.70% of the stake, Sabby Management LLC holds 749,599 shares worth 749,599. A second-largest stockholder of TTOO, Hudson Bay Capital Management LP, holds 651,300 shares, controlling over 3.21% of the firm’s shares. Heights Capital Management, Inc. is the third largest shareholder in TTOO, holding 549,542 shares or 2.71% stake. With a 0.65% stake in TTOO, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 130,994 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.09% of TTOO stock, is the second-largest Mutual Fund holder. It holds 17,448 shares valued at 5758.0. Fidelity Series Total Market Inde holds 0.05% of the stake in TTOO, owning 9,369 shares worth 3092.0.
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, 2023, TTOO reported revenue of $5.91M and operating income of -$15.02M. The EBITDA in the recently reported quarter was -$14.47M and diluted EPS was -$5.00.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TTOO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TTOO analysts setting a high price target of $0.20 and a low target of $0.12, the average target price over the next 12 months is $0.16. Based on these targets, TTOO could surge 81.82% to reach the target high and rise by 9.09% to reach the target low. Reaching the average price target will result in a growth of 45.45% 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.
Summary of Insider Activity:
Insiders traded TTOO stock several times over the past three months with 1 Buys and 4 Sells. In these transactions, 334 shares were bought while 5,870 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 558,495 while 18,264 shares were sold.