T2 Biosystems Inc. (NASDAQ: TTOO) stock jumped 6.08% on Friday to $0.28 against a previous-day closing price of $0.26. With 66.56 million shares changed hands, the volume of the stock remained lighter than its average volume of 107.5 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $0.3000 whereas the lowest price it dropped to was $0.2349. The 52-week range on TTOO shows that it touched its highest point at $6.24 and its lowest point at $0.05 during that stretch. Beta for the stock currently stands at 0.28.
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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 -8.64%, but this was down by -51.27% over a month. Three-month performance surged to 211.46% while six-month performance fell -47.70%. The stock lost -95.25% in the past year, while it has lost -80.48% so far this year. A look at the trailing 12-month EPS for TTOO yields -5.70 with Next year EPS estimates of -0.09. For the next quarter, that number is -0.04. This implies an EPS growth rate of 21.10% for this year and 62.50% for next year.
Float and Shares Shorts:
At present, 333.58 million TTOO shares are outstanding with a float of 283.05 million shares on hand for trading. On Aug 30, 2023, short shares totaled 24.51 million, which was 7.35% higher than short shares on Jul 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.
Institutional Ownership:
Through their ownership of 19.48% of TTOO’s outstanding shares, institutional investors have minority control over the company.
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 Jun 29, 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 -$5.10.
Analysts Ratings:
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 $0.18 and a low target of $0.12, the average target price over the next 12 months is $0.15. Based on these targets, TTOO could drop -35.71% to reach the target high and fall by -57.14% to reach the target low. Reaching the average price target will result in a decline of -46.43% 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 7 Buys and 0 Sells. In these transactions, 48,347,160 shares were bought while 0 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 48,392,487 while 18,264 shares were sold.
