Zacks Investment Research Lowers HTG Molecular Diagnostics (NASDAQ:HTGM) to Hold

Zacks Investment Research lowered shares of HTG Molecular Diagnostics (NASDAQ:HTGM) from a buy rating to a hold rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “HTG Molecular Diagnostics, Inc. is engaged in developing and marketing a technology platform which consists of instrumentation, consumables and software analytics for sample profiling applications including tumor profiling, molecular diagnostic testing and biomarker development. Its products include HTG Edge System, HTG Edge Assays and HTG Assay Direct. HTG Molecular Diagnostics, Inc. is headquartered in Tucson, Arizona. “

Several other equities analysts also recently issued reports on HTGM. HC Wainwright reissued a buy rating on shares of CytoDyn in a research note on Tuesday, June 18th. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Cantor Fitzgerald set a $6.00 price objective on shares of HTG Molecular Diagnostics and gave the company a buy rating in a research note on Monday, April 8th. Finally, Canaccord Genuity upped their price objective on shares of TransAlta Renewables from C$13.00 to C$13.50 in a research note on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $6.00.



Shares of NASDAQ HTGM traded up $0.02 on Tuesday, hitting $1.47. The company’s stock had a trading volume of 17,312 shares, compared to its average volume of 258,698. HTG Molecular Diagnostics has a 12-month low of $1.44 and a 12-month high of $5.46. The stock has a market cap of $42.06 million, a P/E ratio of -2.44 and a beta of 1.56. The company has a debt-to-equity ratio of 0.63, a current ratio of 6.30 and a quick ratio of 6.05. The company has a 50 day simple moving average of $1.81.

HTG Molecular Diagnostics (NASDAQ:HTGM) last announced its quarterly earnings data on Thursday, May 9th. The medical research company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The firm had revenue of $3.20 million for the quarter, compared to analysts’ expectations of $2.77 million. HTG Molecular Diagnostics had a negative net margin of 80.03% and a negative return on equity of 75.50%. On average, sell-side analysts forecast that HTG Molecular Diagnostics will post -0.62 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of HTG Molecular Diagnostics by 0.6% during the fourth quarter. FMR LLC now owns 3,607,849 shares of the medical research company’s stock valued at $9,164,000 after buying an additional 19,804 shares during the period. Perkins Capital Management Inc. increased its position in HTG Molecular Diagnostics by 37.8% during the first quarter. Perkins Capital Management Inc. now owns 619,920 shares of the medical research company’s stock worth $1,550,000 after purchasing an additional 169,970 shares during the last quarter. Geode Capital Management LLC increased its position in HTG Molecular Diagnostics by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 217,965 shares of the medical research company’s stock worth $553,000 after purchasing an additional 28,472 shares during the last quarter. Requisite Energy Fund I LP acquired a new position in HTG Molecular Diagnostics during the fourth quarter worth approximately $254,000. Finally, TD Asset Management Inc. increased its position in HTG Molecular Diagnostics by 4.9% during the first quarter. TD Asset Management Inc. now owns 98,164 shares of the medical research company’s stock worth $245,000 after purchasing an additional 4,600 shares during the last quarter. 45.04% of the stock is currently owned by institutional investors and hedge funds.

About HTG Molecular Diagnostics

HTG Molecular Diagnostics, Inc a commercial stage life sciences company, focuses on the precision medicine. The company offers instrumentation (or platforms); consumables comprising assay kits; and software analytics that automate sample processing and profiles various molecular targets. Its platforms generate a molecular profiling library for detection using next-generation sequencing.

See Also: Liquidity

Get a free copy of the Zacks research report on HTG Molecular Diagnostics (HTGM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for HTG Molecular Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HTG Molecular Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.