Polarityte Inc (NASDAQ:PTE) Short Interest Up 13.0% in August

Polarityte Inc (NASDAQ:PTE) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 6,123,000 shares, an increase of 13.0% from the July 31st total of 5,420,200 shares. Based on an average trading volume of 338,800 shares, the short-interest ratio is currently 18.1 days. Currently, 53.1% of the shares of the company are short sold.

A number of research firms have weighed in on PTE. Oppenheimer set a $14.00 target price on shares of Polarityte and gave the stock a “buy” rating in a research report on Wednesday, August 21st. ValuEngine raised shares of Polarityte from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Cantor Fitzgerald set a $50.00 target price on shares of Polarityte and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Zacks Investment Research lowered shares of Polarityte from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Northland Securities set a $50.00 target price on shares of Polarityte and gave the stock a “buy” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $23.41.

Polarityte stock traded up $0.21 on Friday, reaching $4.56. 22,725 shares of the stock were exchanged, compared to its average volume of 419,536. The firm has a fifty day moving average price of $4.41 and a two-hundred day moving average price of $7.54. Polarityte has a twelve month low of $3.40 and a twelve month high of $23.06. The company has a current ratio of 6.72, a quick ratio of 6.68 and a debt-to-equity ratio of 0.06. The stock has a market cap of $118.79 million, a PE ratio of -0.92 and a beta of 1.57.

Polarityte (NASDAQ:PTE) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.13. The company had revenue of $1.32 million for the quarter, compared to the consensus estimate of $1.57 million. During the same quarter in the previous year, the firm posted ($0.74) EPS. The business’s revenue for the quarter was up 312.5% compared to the same quarter last year. Equities analysts anticipate that Polarityte will post -4.14 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of Polarityte during the 2nd quarter worth about $89,000. D. E. Shaw & Co. Inc. bought a new position in shares of Polarityte during the 2nd quarter worth about $353,000. Cubist Systematic Strategies LLC bought a new position in shares of Polarityte during the 2nd quarter worth about $86,000. Marshall Wace LLP increased its holdings in shares of Polarityte by 50.9% during the 2nd quarter. Marshall Wace LLP now owns 17,881 shares of the company’s stock worth $102,000 after purchasing an additional 6,031 shares during the period. Finally, Marshall Wace North America L.P. increased its holdings in shares of Polarityte by 178.6% during the 2nd quarter. Marshall Wace North America L.P. now owns 19,020 shares of the company’s stock worth $109,000 after purchasing an additional 12,194 shares during the period. Institutional investors own 41.51% of the company’s stock.

About Polarityte

PolarityTE, Inc, a biotechnology and regenerative biomaterials company, focuses on discovering, designing, and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences in the United States. The company operates in two segments, Regenerative Medicine and Contract Services.

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