Quotient Ltd (NASDAQ:QTNT) Receives Consensus Recommendation of “Strong Buy” from Brokerages

Shares of Quotient Ltd (NASDAQ:QTNT) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 1 year consensus price objective of $13.75 for the company and are expecting that the company will post ($0.40) earnings per share for the current quarter, according to Zacks. Zacks has also given Quotient an industry rank of 79 out of 256 based on the ratings given to related companies.

Several equities research analysts have weighed in on the stock. BidaskClub cut shares of Quotient from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 10th. ValuEngine upgraded shares of Quotient from a “hold” rating to a “buy” rating in a report on Thursday, September 12th.

QTNT traded up $0.12 during trading on Friday, hitting $8.27. 255,308 shares of the stock traded hands, compared to its average volume of 354,452. The firm has a market capitalization of $567.93 million, a P/E ratio of -4.31 and a beta of 1.00. The company has a debt-to-equity ratio of 72.27, a current ratio of 5.17 and a quick ratio of 4.42. The firm has a 50-day moving average of $9.34 and a 200 day moving average of $9.29. Quotient has a 12-month low of $5.52 and a 12-month high of $11.30.

Quotient (NASDAQ:QTNT) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.36) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.03. The firm had revenue of $8.17 million for the quarter, compared to analysts’ expectations of $8.40 million. As a group, equities analysts predict that Quotient will post -1.57 EPS for the current fiscal year.

In other Quotient news, insider Roland Boyd sold 21,100 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $10.95, for a total value of $231,045.00. Following the completion of the transaction, the insider now directly owns 62,508 shares in the company, valued at approximately $684,462.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.20% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of QTNT. Artisan Partners Limited Partnership bought a new position in Quotient in the 1st quarter worth $3,342,000. Fosun International Ltd bought a new position in shares of Quotient in the 1st quarter worth about $2,448,000. Park West Asset Management LLC increased its stake in shares of Quotient by 27.1% in the 2nd quarter. Park West Asset Management LLC now owns 1,042,806 shares of the company’s stock worth $9,750,000 after acquiring an additional 222,297 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Quotient in the 1st quarter worth about $1,854,000. Finally, River & Mercantile Asset Management LLP bought a new position in shares of Quotient in the 2nd quarter worth about $1,356,000. Institutional investors and hedge funds own 70.56% of the company’s stock.

About Quotient

Quotient Limited, a commercial-stage diagnostics company, develops, manufactures, and commercializes conventional reagent products used for blood grouping in the transfusion diagnostics market worldwide. The company is developing MosaiQ, a proprietary technology platform, which provides tests for blood grouping and serological disease screening.

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