Fluidigm (NASDAQ:FLDM) Stock Rating Lowered by Zacks Investment Research

Fluidigm (NASDAQ:FLDM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Fluidigm Corporation operates as a biotech tools company that creates microfluidic-based chips and instrumentation for biological research. Products offered by the Company include BioMark HD System- a real time PCR; EP1 system for SNP genotyping; Access Array System-an Integrated Fluidic Circuit (IFC); TOPAZ system for protein crystallography; Dynamic Array integrated fluidic circuits (IFCs); and Access Array Assay Design Services. The Company’s products find its application in Gene Expression, Single-Cell Gene Expression, SNP Genotyping, Targeted Resequencing, Sample Quantitation, Copy Number Variation and Protein Crystallization. Fluidigm Corporation is based in San Francisco, California. “

A number of other research analysts have also commented on the company. UBS Group upgraded Fluidigm from a “neutral” rating to a “buy” rating and cut their price target for the stock from $14.00 to $7.00 in a report on Friday, October 18th. BidaskClub upgraded Fluidigm from a “sell” rating to a “hold” rating in a report on Saturday, November 2nd. ValuEngine upgraded Fluidigm from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Finally, Janney Montgomery Scott lowered Fluidigm from a “buy” rating to a “neutral” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $10.81.

Shares of FLDM stock traded up $0.30 during trading hours on Friday, reaching $4.22. 1,827,600 shares of the company’s stock were exchanged, compared to its average volume of 986,442. Fluidigm has a fifty-two week low of $2.12 and a fifty-two week high of $14.90. The stock has a market capitalization of $270.96 million, a P/E ratio of -5.28 and a beta of 2.21. The business has a fifty day moving average price of $3.17 and a 200-day moving average price of $5.59. The company has a quick ratio of 2.44, a current ratio of 2.89 and a debt-to-equity ratio of 0.33.

Fluidigm (NASDAQ:FLDM) last issued its quarterly earnings results on Tuesday, November 5th. The medical research company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. Fluidigm had a negative return on equity of 25.11% and a negative net margin of 57.10%. The company had revenue of $26.50 million during the quarter, compared to analyst estimates of $28.74 million. During the same period in the previous year, the company earned ($0.13) earnings per share. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, research analysts expect that Fluidigm will post -0.6 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of FLDM. Cadence Capital Management LLC increased its position in shares of Fluidigm by 1.1% during the third quarter. Cadence Capital Management LLC now owns 268,164 shares of the medical research company’s stock valued at $1,242,000 after purchasing an additional 2,928 shares during the period. Prudential Financial Inc. increased its position in shares of Fluidigm by 55.6% during the second quarter. Prudential Financial Inc. now owns 15,950 shares of the medical research company’s stock valued at $197,000 after purchasing an additional 5,700 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Fluidigm by 21,055.2% during the third quarter. Tower Research Capital LLC TRC now owns 6,135 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 6,106 shares during the period. Metropolitan Life Insurance Co NY bought a new stake in shares of Fluidigm during the first quarter valued at approximately $151,000. Finally, California Public Employees Retirement System increased its position in shares of Fluidigm by 10.5% during the third quarter. California Public Employees Retirement System now owns 122,978 shares of the medical research company’s stock valued at $569,000 after purchasing an additional 11,667 shares during the period. Institutional investors own 90.99% of the company’s stock.

Fluidigm Company Profile

Fluidigm Corporation creates, manufactures, and markets technologies and tools for life sciences research in the United States and Europe. It offers analytical systems comprising Helios, a CyTOF system, Hyperion imaging system, and Hyperion tissue imager; and assays and reagents, including Maxpar reagents and Maxpar human immune monitoring panel kit and workflow.

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