Zacks Investment Research Downgrades Fluidigm (NASDAQ:FLDM) to Sell

Fluidigm (NASDAQ:FLDM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

According to Zacks, “Fluidigm Corporation operates as a biotech tools company that creates microfluidic-based chips and instrumentation for biological research. Products offered by the Company include BioMark HD System- a real time PCR; EP1 system for SNP genotyping; Access Array System-an Integrated Fluidic Circuit (IFC); TOPAZ system for protein crystallography; Dynamic Array integrated fluidic circuits (IFCs); and Access Array Assay Design Services. The Company’s products find its application in Gene Expression, Single-Cell Gene Expression, SNP Genotyping, Targeted Resequencing, Sample Quantitation, Copy Number Variation and Protein Crystallization. Fluidigm Corporation is based in San Francisco, California. “

NASDAQ:FLDM opened at $4.10 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.33 and a quick ratio of 1.87. The firm has a market cap of $261.61 million, a price-to-earnings ratio of -5.12 and a beta of 2.02. The company has a 50 day moving average price of $4.21 and a 200-day moving average price of $3.38. Fluidigm has a 1-year low of $1.17 and a 1-year high of $12.45.

Fluidigm (NASDAQ:FLDM) last posted its earnings results on Thursday, May 7th. The medical research company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.09). The firm had revenue of $27.62 million for the quarter. Fluidigm had a negative net margin of 48.20% and a negative return on equity of 23.20%. On average, sell-side analysts anticipate that Fluidigm will post -0.53 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of FLDM. Callan Capital LLC purchased a new stake in Fluidigm in the 1st quarter worth $25,000. Parallel Advisors LLC purchased a new stake in Fluidigm in the 1st quarter worth $26,000. Aperio Group LLC purchased a new stake in Fluidigm in the 1st quarter worth $27,000. Banque Cantonale Vaudoise purchased a new stake in Fluidigm in the 4th quarter worth $38,000. Finally, Arizona State Retirement System purchased a new stake in Fluidigm in the 1st quarter worth $41,000. 89.79% of the stock is owned by institutional investors.

About Fluidigm

Fluidigm Corporation creates, manufactures, and markets technologies and tools for life sciences research in the United States and Europe. It offers analytical systems comprising Helios, a CyTOF system, Hyperion imaging system, and Hyperion tissue imager; and assays and reagents, including Maxpar reagents and Maxpar human immune monitoring panel kit and workflow.

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