Quotient (NASDAQ:QTNT) Shares Up 6.8%

Quotient Ltd (NASDAQ:QTNT)’s share price shot up 6.8% during trading on Friday . The stock traded as high as $9.00 and last traded at $8.47, 900,570 shares were traded during mid-day trading. An increase of 160% from the average session volume of 345,792 shares. The stock had previously closed at $7.93.

Several brokerages have commented on QTNT. BidaskClub raised Quotient from a “strong sell” rating to a “sell” rating in a research report on Friday. ValuEngine raised Quotient from a “sell” rating to a “hold” rating in a research report on Saturday.

The company has a current ratio of 5.17, a quick ratio of 4.42 and a debt-to-equity ratio of 72.27. The business has a 50-day moving average price of $8.15 and a 200-day moving average price of $9.12. The firm has a market cap of $525.52 million, a P/E ratio of -4.41 and a beta of 0.99.

Quotient (NASDAQ:QTNT) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.03. The firm had revenue of $8.17 million for the quarter, compared to the consensus estimate of $8.40 million. On average, equities analysts anticipate that Quotient Ltd will post -1.57 earnings per share for the current fiscal year.

In other news, insider Roland Boyd sold 21,100 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $10.95, for a total transaction of $231,045.00. Following the transaction, the insider now owns 62,508 shares of the company’s stock, valued at approximately $684,462.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 14.20% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Parallax Volatility Advisers L.P. acquired a new stake in Quotient in the second quarter valued at approximately $289,000. River & Mercantile Asset Management LLP acquired a new position in Quotient during the 2nd quarter worth $1,356,000. Park West Asset Management LLC boosted its position in shares of Quotient by 27.1% during 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. Rehmann Capital Advisory Group boosted its position in shares of Quotient by 145.4% during the 2nd quarter. Rehmann Capital Advisory Group now owns 41,880 shares of the company’s stock worth $392,000 after acquiring an additional 24,812 shares in the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Quotient during the 2nd quarter worth about $172,000. 70.56% of the stock is currently owned by institutional investors and hedge funds.

About Quotient (NASDAQ:QTNT)

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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