Fulgent Genetics (NASDAQ:FLGT) Stock Price Up 11.2%

Shares of Fulgent Genetics Inc (NASDAQ:FLGT) were up 11.2% on Thursday . The stock traded as high as $13.93 and last traded at $13.64, approximately 466,300 shares traded hands during mid-day trading. An increase of 391% from the average daily volume of 94,978 shares. The stock had previously closed at $12.27.

Several equities research analysts have recently weighed in on FLGT shares. Zacks Investment Research downgraded Fulgent Genetics from a “strong-buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a report on Tuesday, October 8th. Piper Jaffray Companies raised Fulgent Genetics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $9.50 to $12.30 in a report on Tuesday, November 5th. Finally, ValuEngine raised Fulgent Genetics from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $13.15.

The firm has a market capitalization of $253.90 million, a price-to-earnings ratio of -71.42 and a beta of 1.02. The company has a fifty day moving average price of $11.62 and a two-hundred day moving average price of $9.55. The company has a quick ratio of 9.22, a current ratio of 9.22 and a debt-to-equity ratio of 0.04.

Fulgent Genetics (NASDAQ:FLGT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.08. The business had revenue of $10.35 million during the quarter, compared to the consensus estimate of $8.48 million. Fulgent Genetics had a negative return on equity of 0.16% and a negative net margin of 3.52%. On average, equities analysts anticipate that Fulgent Genetics Inc will post 0.06 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Fulgent Genetics by 15.9% in the second quarter. BlackRock Inc. now owns 16,607 shares of the company’s stock valued at $111,000 after acquiring an additional 2,281 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Fulgent Genetics during the third quarter worth approximately $27,000. River & Mercantile Asset Management LLP purchased a new stake in shares of Fulgent Genetics during the second quarter worth approximately $1,034,000. Finally, Raymond James Trust N.A. purchased a new stake in shares of Fulgent Genetics during the third quarter worth approximately $5,195,000. 15.65% of the stock is owned by institutional investors and hedge funds.

Fulgent Genetics Company Profile (NASDAQ:FLGT)

Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, learning software, and genetic diagnostics tools and integrated laboratory processes.

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