HTG Molecular Diagnostics (HTGM) Trading Down 11.8%

HTG Molecular Diagnostics Inc (NASDAQ:HTGM)’s share price fell 11.8% during trading on Friday . The stock traded as low as $3.46 and last traded at $3.65. 610,059 shares were traded during trading, a decline of 40% from the average session volume of 1,010,639 shares. The stock had previously closed at $4.14.

Several research firms have recently commented on HTGM. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of HTG Molecular Diagnostics in a research report on Friday, September 28th. ValuEngine upgraded shares of HTG Molecular Diagnostics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 27th. Cantor Fitzgerald began coverage on shares of HTG Molecular Diagnostics in a research report on Thursday, September 20th. They set a “buy” rating and a $7.00 price target for the company. Finally, Zacks Investment Research lowered shares of HTG Molecular Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $6.25.

The stock has a market capitalization of $112.55 million, a P/E ratio of -2.04 and a beta of 2.03. The company has a current ratio of 9.50, a quick ratio of 9.29 and a debt-to-equity ratio of 0.35.

HTG Molecular Diagnostics (NASDAQ:HTGM) last released its quarterly earnings results on Thursday, November 8th. The medical research company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.01. The business had revenue of $4.71 million during the quarter, compared to analyst estimates of $5.14 million. HTG Molecular Diagnostics had a negative net margin of 81.10% and a negative return on equity of 132.67%. Sell-side analysts forecast that HTG Molecular Diagnostics Inc will post -0.7 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in HTGM. Northern Trust Corp bought a new position in HTG Molecular Diagnostics in the 1st quarter valued at about $189,000. BlackRock Inc. grew its position in HTG Molecular Diagnostics by 322.8% in the 2nd quarter. BlackRock Inc. now owns 73,044 shares of the medical research company’s stock valued at $238,000 after buying an additional 55,769 shares in the last quarter. Acadian Asset Management LLC bought a new position in HTG Molecular Diagnostics in the 2nd quarter valued at about $353,000. GSA Capital Partners LLP bought a new position in HTG Molecular Diagnostics in the 2nd quarter valued at about $650,000. Finally, Spark Investment Management LLC bought a new position in HTG Molecular Diagnostics in the 2nd quarter valued at about $663,000. Hedge funds and other institutional investors own 50.55% of the company’s stock.

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HTG Molecular Diagnostics Company Profile (NASDAQ:HTGM)

HTG Molecular Diagnostics, Inc develops and markets products and services based on proprietary technology that facilitates the routine use of targeted molecular profiling. The company offers instrumentation (or platforms); consumables comprising assay kits; and software analytics that automate sample processing and profiles various molecular targets.

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