Stocks of NanoString Technologies Inc. (NSTG) are poised to climb above their peers

NanoString Technologies Inc. (NASDAQ: NSTG) stock jumped 0.71% on Wednesday to $5.69 against a previous-day closing price of $5.65. With 2.0 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.89 million shares. During the session, the Medical Instruments & Supplies company that operates in wider Healthcare sector, reached to the highest price of $5.80 whereas the lowest price it dropped to was $5.31. The 52-week range on NSTG shows that it touched its highest point at $18.51 and its lowest point at $4.37 during that stretch. It currently has a 1-year price target of $16.43. Beta for the stock currently stands at 1.66.

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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 NSTG was down-trending over the past week, with a drop of -33.14%, but this was down by -38.35% over a month. Three-month performance dropped to -40.67% while six-month performance fell -14.56%. The stock lost -65.62% in the past year, while it has lost -28.61% so far this year. A look at the trailing 12-month EPS for NSTG yields -3.46 with Next year EPS estimates of -1.83. For the next quarter, that number is -0.67. This implies an EPS growth rate of -35.10% for this year and 30.70% for next year.

Float and Shares Shorts:

At present, 46.94 million NSTG shares are outstanding with a float of 46.24 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.31 million, which was 9.10% higher than short shares on Mar 30, 2023. In addition to Mr. R. Bradley Gray as the firm’s CEO, Pres & Director, Mr. K. Thomas Bailey M.B.A. serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 104.64% of NSTG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 61.57% of NSTG, in contrast to 40.23% held by mutual funds. Shares owned by individuals account for 15.46%. As the largest shareholder in NSTG with 10.51% of the stake, Wellington Management Co. LLP holds 4,916,409 shares worth 4,916,409. A second-largest stockholder of NSTG, Polar Capital LLP, holds 4,000,000 shares, controlling over 8.55% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in NSTG, holding 3,679,484 shares or 7.86% stake. With a 7.48% stake in NSTG, the Polar Capital Funds Plc – Biotech is the largest stakeholder. A total of 3,500,000 shares are owned by the mutual fund manager. The Vanguard Health Care Fund, which owns about 3.03% of NSTG stock, is the second-largest Mutual Fund holder. It holds 1,416,596 shares valued at 13.88 million. Vanguard Total Stock Market ETF holds 3.01% of the stake in NSTG, owning 1,409,732 shares worth 13.82 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, 2023, NSTG reported revenue of $32.22M and operating income of -$37.09M. The EBITDA in the recently reported quarter was -$35.21M and diluted EPS was -$0.85.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NSTG 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 NSTG analysts setting a high price target of $24.00 and a low target of $13.00, the average target price over the next 12 months is $16.43. Based on these targets, NSTG could surge 321.79% to reach the target high and rise by 128.47% to reach the target low. Reaching the average price target will result in a growth of 188.75% 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 NSTG stock several times over the past three months with 16 Buys and 9 Sells. In these transactions, 121,731 shares were bought while 34,006 shares were sold. The number of buy transactions has increased to 33 while that of sell transactions has risen to 14 over the past year. The total number of shares bought during that period was 285,539 while 51,334 shares were sold.

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