Wall Street Zen Upgrades Quanterix (NASDAQ:QTRX) to Hold

Quanterix (NASDAQ:QTRX) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quanterix in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.33.

Quanterix Price Performance

Shares of QTRX opened at $7.56 on Friday. Quanterix has a 1-year low of $4.05 and a 1-year high of $12.41. The stock has a market cap of $353.13 million, a price-to-earnings ratio of -3.24 and a beta of 1.01. The firm has a 50 day simple moving average of $6.14 and a 200-day simple moving average of $5.73.

Quanterix (NASDAQ:QTRX) last posted its earnings results on Monday, November 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.13). The company had revenue of $40.23 million during the quarter, compared to analysts’ expectations of $37.85 million. Quanterix had a negative net margin of 73.47% and a negative return on equity of 21.34%. On average, equities analysts expect that Quanterix will post -0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanterix

Several large investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC increased its stake in shares of Quanterix by 13.4% during the 3rd quarter. Intech Investment Management LLC now owns 19,161 shares of the company’s stock valued at $104,000 after acquiring an additional 2,268 shares during the last quarter. Jane Street Group LLC grew its holdings in Quanterix by 4.2% in the first quarter. Jane Street Group LLC now owns 58,313 shares of the company’s stock valued at $380,000 after purchasing an additional 2,366 shares during the period. Rhumbline Advisers increased its position in Quanterix by 7.2% during the second quarter. Rhumbline Advisers now owns 60,629 shares of the company’s stock worth $403,000 after purchasing an additional 4,094 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Quanterix by 40.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,024 shares of the company’s stock worth $100,000 after purchasing an additional 4,330 shares during the last quarter. Finally, Quarry LP raised its stake in Quanterix by 277,300.0% during the third quarter. Quarry LP now owns 5,548 shares of the company’s stock worth $30,000 after purchasing an additional 5,546 shares during the period. 86.48% of the stock is currently owned by hedge funds and other institutional investors.

About Quanterix

Quanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers HD-X instrument, a protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection in an expanded range of applications.