TearLab Corp Sees Strong Trading Volume After Insider Buying Activity (TEAR)
TearLab Corp (NASDAQ:TEAR) saw unusually-high trading volume on Thursday after an insider bought additional shares in the company, Stock Ratings Network.com reports. Approximately 658,205 shares were traded during mid-day trading, an increase of 68% from the previous session’s volume of 392,092 shares.The stock last traded at $3.62 and had previously closed at $3.31.
Specifically, CEO Elias Vamvakas acquired 70,000 shares of the company’s stock on the open market in a transaction dated Tuesday, August 12th. The shares were purchased at an average price of $3.43 per share, with a total value of $240,100.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of TearLab Corp from $10.00 to $8.00 in a research note on Friday, August 8th. Analysts at Feltl & Co. downgraded shares of TearLab Corp from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 8th.
The stock’s 50-day moving average is $4.69 and its 200-day moving average is $5.57. The company’s market cap is $121.9 million.
TearLab Corp (NASDAQ:TEAR) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by $0.01. The company had revenue of $9.20 million for the quarter, compared to the consensus estimate of $5.12 million. The company’s quarterly revenue was up 53.3% on a year-over-year basis. On average, analysts predict that TearLab Corp will post $-0.67 earnings per share for the current fiscal year.
TearLab Corp. is an in-vitro diagnostic company. The Company is commercializing a tear testing platform, the TearLab Osmolarity System that enables eye care practitioners to test for sensitive and specific biomarkers using nanoliters of tear film at the point-of-care.
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