Brokerages expect Polarityte Inc (NASDAQ:PTE) to report sales of $1.62 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Polarityte’s earnings, with estimates ranging from $1.30 million to $1.80 million. The business is expected to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Polarityte will report full year sales of $5.82 million for the current year, with estimates ranging from $5.50 million to $6.02 million. For the next financial year, analysts expect that the company will post sales of $14.73 million, with estimates ranging from $10.75 million to $20.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Polarityte.
Polarityte (NASDAQ:PTE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.87) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.14. The business had revenue of $1.40 million during the quarter, compared to the consensus estimate of $1.41 million. During the same quarter in the prior year, the company earned ($0.86) earnings per share.
Several equities analysts have recently commented on PTE shares. HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of Polarityte in a research report on Wednesday, November 13th. Zacks Investment Research upgraded Polarityte from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research report on Wednesday, January 1st. Northland Securities reiterated a “buy” rating and set a $20.00 price objective on shares of Polarityte in a research report on Thursday, December 5th. Piper Jaffray Companies reduced their price objective on Polarityte from $26.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reduced their price objective on Polarityte from $50.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $11.75.
In related news, CFO Paul Elliot Mann sold 11,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $2.71, for a total transaction of $29,810.00. Following the completion of the sale, the chief financial officer now directly owns 453,227 shares in the company, valued at approximately $1,228,245.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rainer M. Erdtmann sold 31,846 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $2.47, for a total value of $78,659.62. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at $49,400. The disclosure for this sale can be found here. Insiders have sold a total of 52,348 shares of company stock valued at $137,344 over the last 90 days. 8.38% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Polarityte by 24.9% in the 2nd quarter. BlackRock Inc. now owns 988,361 shares of the company’s stock worth $5,634,000 after buying an additional 196,956 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Polarityte in the 3rd quarter worth approximately $109,000. Bank of New York Mellon Corp lifted its holdings in Polarityte by 48.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 47,889 shares of the company’s stock worth $273,000 after buying an additional 15,707 shares during the period. Bernardo Wealth Planning LLC lifted its holdings in Polarityte by 91.7% in the 3rd quarter. Bernardo Wealth Planning LLC now owns 23,000 shares of the company’s stock worth $74,000 after buying an additional 11,000 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Polarityte by 50.9% in the 2nd quarter. Marshall Wace LLP now owns 17,881 shares of the company’s stock worth $102,000 after buying an additional 6,031 shares during the period. Institutional investors and hedge funds own 32.57% of the company’s stock.
NASDAQ PTE traded down $0.36 during trading on Thursday, reaching $3.06. The company’s stock had a trading volume of 328,542 shares, compared to its average volume of 219,382. The stock has a market capitalization of $93.16 million, a PE ratio of -0.63 and a beta of 1.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 3.62. The firm has a fifty day moving average of $2.84 and a 200 day moving average of $3.73. Polarityte has a one year low of $2.10 and a one year high of $18.17.
Polarityte Company Profile
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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