NanoString Technologies, Inc. (NASDAQ:NSTG) Sees Significant Growth in Short Interest – MarketBeat
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NanoString Technologies, Inc. (NASDAQ:NSTG – Get Rating) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 4,280,000 shares, an increase of 19.6% from the July 15th total of 3,580,000 shares. Based on an average daily volume of 864,900 shares, the short-interest ratio is currently 4.9 days. Approximately 9.6% of the shares of the company are sold short.
Institutional Investors Weigh In On NanoString Technologies
Institutional investors and hedge funds have recently bought and sold shares of the business. Pinebridge Investments L.P. bought a new position in NanoString Technologies during the 4th quarter valued at approximately $30,000. Advisor Group Holdings Inc. increased its holdings in shares of NanoString Technologies by 15.0% in the 4th quarter. Advisor Group Holdings Inc. now owns 3,795 shares of the biotechnology company’s stock worth $160,000 after purchasing an additional 496 shares in the last quarter. Bailard Inc. bought a new stake in shares of NanoString Technologies in the 4th quarter worth $211,000. Commonwealth Equity Services LLC bought a new stake in shares of NanoString Technologies in the 1st quarter worth $211,000. Finally, Wrapmanager Inc. bought a new stake in shares of NanoString Technologies in the 4th quarter worth $304,000.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on NSTG. Cowen cut their price objective on NanoString Technologies to $31.00 in a research report on Tuesday. Robert W. Baird dropped their price target on NanoString Technologies from $30.00 to $21.00 in a research report on Friday, August 5th. Finally, Morgan Stanley dropped their price target on NanoString Technologies from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, NanoString Technologies currently has an average rating of “Moderate Buy” and an average target price of $39.14.
NanoString Technologies Price Performance
NASDAQ:NSTG opened at $16.98 on Friday. The company has a current ratio of 6.84, a quick ratio of 7.11 and a debt-to-equity ratio of 2.00. NanoString Technologies has a 52-week low of $11.12 and a 52-week high of $62.34. The business’s fifty day moving average is $13.66 and its 200 day moving average is $22.67.
NanoString Technologies (NASDAQ:NSTG – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.23). The company had revenue of $32.22 million for the quarter, compared to the consensus estimate of $32.32 million. NanoString Technologies had a negative net margin of 97.45% and a negative return on equity of 87.86%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.60) earnings per share. As a group, equities research analysts forecast that NanoString Technologies will post -2.55 earnings per share for the current fiscal year.
NanoString Technologies Company Profile
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NanoString Technologies, Inc develops, manufactures, and sells tools for scientific and clinical research in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.
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