HTG Molecular Diagnostics (NASDAQ:HTGM) issued its quarterly earnings results on Thursday. The medical research company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.01, Morningstar.com reports. HTG Molecular Diagnostics had a negative return on equity of 132.67% and a negative net margin of 81.10%. The firm had revenue of $4.71 million during the quarter, compared to analyst estimates of $5.14 million. HTG Molecular Diagnostics updated its FY 2018 guidance to EPS.
HTGM stock traded down $0.49 during mid-day trading on Friday, hitting $3.65. 610,059 shares of the stock were exchanged, compared to its average volume of 382,269. The company has a quick ratio of 9.29, a current ratio of 9.50 and a debt-to-equity ratio of 0.35. HTG Molecular Diagnostics has a 12 month low of $1.71 and a 12 month high of $5.83. The firm has a market cap of $118.23 million, a P/E ratio of -2.04 and a beta of 2.03.
A number of hedge funds have recently modified their holdings of the business. FMR LLC lifted its stake in HTG Molecular Diagnostics by 0.8% during the second quarter. FMR LLC now owns 3,488,045 shares of the medical research company’s stock worth $11,371,000 after purchasing an additional 27,700 shares during the last quarter. Northern Trust Corp purchased a new position in shares of HTG Molecular Diagnostics in the first quarter worth about $189,000. BlackRock Inc. increased its holdings in shares of HTG Molecular Diagnostics by 322.8% in the second quarter. BlackRock Inc. now owns 73,044 shares of the medical research company’s stock worth $238,000 after buying an additional 55,769 shares during the period. Private Wealth Partners LLC increased its holdings in shares of HTG Molecular Diagnostics by 11.1% in the third quarter. Private Wealth Partners LLC now owns 1,000,000 shares of the medical research company’s stock worth $5,050,000 after buying an additional 100,000 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of HTG Molecular Diagnostics in the second quarter worth about $353,000. 50.55% of the stock is owned by hedge funds and other institutional investors.
HTGM has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of HTG Molecular Diagnostics in a research note on Friday, September 28th. Cantor Fitzgerald initiated coverage on HTG Molecular Diagnostics in a research note on Thursday, September 20th. They set a “buy” rating and a $7.00 price target for the company. Zacks Investment Research raised HTG Molecular Diagnostics from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Tuesday, August 14th. Finally, ValuEngine raised HTG Molecular Diagnostics from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $6.25.
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HTG Molecular Diagnostics Company Profile
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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