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

HTG Molecular Diagnostics (NASDAQ:HTGM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, 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. “

A number of other equities analysts have also recently weighed in on the company. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. HC Wainwright reissued a “buy” rating on shares of CytoDyn in a report on Tuesday, June 18th. Cantor Fitzgerald set a $6.00 price objective on HTG Molecular Diagnostics and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Canaccord Genuity raised their price objective on TransAlta Renewables from C$13.00 to C$13.50 in a report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $6.00.

Shares of NASDAQ HTGM opened at $1.48 on Tuesday. The stock has a market cap of $41.91 million, a PE ratio of -2.47 and a beta of 1.56. The company has a current ratio of 6.30, a quick ratio of 6.05 and a debt-to-equity ratio of 0.63. HTG Molecular Diagnostics has a 1-year low of $1.44 and a 1-year high of $5.46. The firm’s 50-day moving average price is $1.83.

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 for the quarter, missing the Zacks’ 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%. As a group, sell-side analysts anticipate that HTG Molecular Diagnostics will post -0.62 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. TD Asset Management Inc. increased its stake in HTG Molecular Diagnostics by 4.9% in the 1st 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 period. Cowen Prime Services LLC purchased a new position in HTG Molecular Diagnostics in the 1st quarter worth approximately $50,000. Perkins Capital Management Inc. increased its stake in HTG Molecular Diagnostics by 37.8% in the 1st 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 period. FMR LLC increased its stake in HTG Molecular Diagnostics by 0.6% in the 4th quarter. FMR LLC now owns 3,607,849 shares of the medical research company’s stock worth $9,164,000 after purchasing an additional 19,804 shares during the period. Finally, Millennium Management LLC purchased a new position in HTG Molecular Diagnostics in the 4th quarter worth approximately $151,000. 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: What is a Candlestick Chart?

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.