Brokerages predict that Polarityte Inc (NASDAQ:PTE) will announce earnings per share (EPS) of ($1.05) for the current quarter, according to Zacks. Three analysts have issued estimates for Polarityte’s earnings, with the lowest EPS estimate coming in at ($1.18) and the highest estimate coming in at ($0.82). The business is scheduled to report its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Polarityte will report full-year earnings of ($4.40) per share for the current financial year, with EPS estimates ranging from ($4.85) to ($3.65). For the next year, analysts expect that the business will report earnings of ($4.17) per share, with EPS estimates ranging from ($4.75) to ($3.36). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Polarityte.
Polarityte (NASDAQ:PTE) last announced its earnings results on Friday, May 10th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.01) by ($0.17). The business had revenue of $1.50 million during the quarter, compared to the consensus estimate of $1.33 million. Polarityte had a negative net margin of 4,259.44% and a negative return on equity of 99.38%. Polarityte’s revenue was up 49900.0% compared to the same quarter last year.
PTE has been the subject of a number of analyst reports. Northland Securities reissued a “buy” rating and issued a $50.00 price target on shares of Polarityte in a research report on Monday, March 18th. Evercore ISI assumed coverage on Polarityte in a research report on Wednesday, March 20th. They set an “outperform” rating and a $26.00 price target for the company. Cantor Fitzgerald set a $65.00 price target on Polarityte and gave the company a “buy” rating in a research report on Monday, April 8th. National Securities decreased their price objective on Polarityte from $5.00 to $3.00 and set a “sell” rating on the stock in a report on Monday, May 13th. Finally, Zacks Investment Research cut Polarityte from a “hold” rating to a “sell” rating in a report on Saturday, April 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $34.00.
In other Polarityte news, Director Peter A. Cohen bought 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average price of $5.63 per share, for a total transaction of $84,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steve Gorlin sold 53,700 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $5.94, for a total value of $318,978.00. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 54,000 shares of company stock valued at $293,680. 43.30% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of PTE. FMR LLC purchased a new stake in shares of Polarityte during the first quarter worth $24,884,000. Marshall Wace North America L.P. purchased a new position in shares of Polarityte during the first quarter worth about $73,000. Marshall Wace LLP purchased a new position in shares of Polarityte during the first quarter worth about $126,000. Glassman Wealth Services purchased a new position in shares of Polarityte during the first quarter worth about $45,000. Finally, Cheyne Capital Management UK LLP acquired a new stake in shares of Polarityte during the first quarter worth about $1,056,000. 41.58% of the stock is owned by institutional investors and hedge funds.
Shares of PTE traded up $0.04 during trading hours on Friday, reaching $5.90. The stock had a trading volume of 187,114 shares, compared to its average volume of 390,674. Polarityte has a 12 month low of $4.96 and a 12 month high of $40.51. The company has a quick ratio of 5.55, a current ratio of 5.59 and a debt-to-equity ratio of 0.07. The stock has a market cap of $145.86 million, a P/E ratio of -1.21 and a beta of 1.66.
PolarityTE, Inc, a biotechnology and regenerative biomaterials company, focuses on discovering, designing, and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences in the United States. The company operates in two segments, Regenerative Medicine and Contract Services.
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