Fulgent Genetics (NASDAQ:FLGT) Stock Passes Below Fifty Day Moving Average – Here’s Why

Fulgent Genetics, Inc. (NASDAQ:FLGT) shares crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $15.82 and traded as low as $14.94. Fulgent Genetics shares last traded at $15.96, with a volume of 754,530 shares.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FLGT shares. Zacks Research lowered Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Piper Sandler reissued a “neutral” rating and set a $15.00 price objective (down from $30.00) on shares of Fulgent Genetics in a report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Fulgent Genetics in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered Fulgent Genetics from a “sell” rating to a “strong sell” rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.00.

Fulgent Genetics Price Performance

The firm has a market capitalization of $474.81 million, a PE ratio of -6.68 and a beta of 0.88. The firm’s fifty day moving average is $15.82 and its two-hundred day moving average is $22.66.

Fulgent Genetics (NASDAQ:FLGT) last released its quarterly earnings results on Friday, February 27th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.14. Fulgent Genetics had a negative net margin of 23.04% and a negative return on equity of 3.24%. The business had revenue of $83.34 million for the quarter, compared to analysts’ expectations of $85.38 million. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. As a group, equities research analysts predict that Fulgent Genetics, Inc. will post -2.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its holdings in Fulgent Genetics by 25.2% during the first quarter. Hsbc Holdings PLC now owns 65,174 shares of the company’s stock worth $1,031,000 after purchasing an additional 13,118 shares during the last quarter. Counterpoint Mutual Funds LLC raised its position in Fulgent Genetics by 78.2% in the first quarter. Counterpoint Mutual Funds LLC now owns 34,306 shares of the company’s stock worth $545,000 after acquiring an additional 15,056 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Fulgent Genetics in the first quarter valued at about $1,076,000. Caitong International Asset Management Co. Ltd boosted its stake in Fulgent Genetics by 214.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock valued at $48,000 after acquiring an additional 1,251 shares during the last quarter. Finally, XTX Topco Ltd grew its position in shares of Fulgent Genetics by 33.1% during the 4th quarter. XTX Topco Ltd now owns 22,195 shares of the company’s stock valued at $583,000 after acquiring an additional 5,523 shares during the period. 48.06% of the stock is currently owned by hedge funds and other institutional investors.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.