Standard BioTools (NASDAQ:LAB) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Standard BioTools Inc. (NASDAQ:LAB) passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $0.68 and traded as high as $0.7179. Standard BioTools shares last traded at $0.6942, with a volume of 730,105 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Standard BioTools in a research note on Wednesday, November 4th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Standard BioTools Price Performance

The stock has a 50 day moving average price of $0.68 and a 200-day moving average price of $0.88.

Standard BioTools (NASDAQ:LAB) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.05. The firm had revenue of $19.39 million during the quarter, compared to the consensus estimate of $18.80 million. Standard BioTools had a negative return on equity of 5.61% and a net margin of 157.62%.

Insider Activity

In related news, Director Thomas D. Carey bought 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was purchased at an average cost of $0.63 per share, for a total transaction of $47,250.00. Following the completion of the acquisition, the director owned 419,456 shares in the company, valued at approximately $264,257.28. This trade represents a 21.77% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Standard BioTools

Several institutional investors have recently added to or reduced their stakes in the stock. Front Street Capital Management Inc. raised its stake in Standard BioTools by 9.9% during the 1st quarter. Front Street Capital Management Inc. now owns 141,231 shares of the company’s stock valued at $130,000 after acquiring an additional 12,706 shares during the last quarter. Rangeley Capital LLC purchased a new position in shares of Standard BioTools in the 1st quarter valued at approximately $46,000. Public Employees Retirement System of Ohio acquired a new position in shares of Standard BioTools in the second quarter valued at approximately $42,000. Engineers Gate Manager LP acquired a new position in shares of Standard BioTools in the second quarter valued at approximately $56,000. Finally, State of Wyoming acquired a new position in shares of Standard BioTools in the second quarter valued at approximately $62,000. Institutional investors and hedge funds own 53.74% of the company’s stock.

Standard BioTools Company Profile

Standard BioTools Inc. (NASDAQ: LAB) develops and supplies technologies, instruments and consumables used by researchers and biopharmaceutical companies to analyze biological systems. Its portfolio supports applications in proteomics, genomics, single-cell analysis, mass cytometry and spatial biology. The company’s offerings include the SomaScan protein profiling platform, which measures large numbers of proteins from biological samples, as well as CyTOF mass cytometry systems for high-dimensional single-cell analysis.