Elutia (NASDAQ:ELUT) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of Elutia (NASDAQ:ELUT) to a sell rating in a research report released on Saturday morning.

Other research analysts also recently issued research reports about the company. Lake Street Capital dropped their price objective on Elutia from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Elutia in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.00.

Elutia Stock Down 5.0%

Elutia stock traded down $0.05 during trading on Friday, reaching $0.90. The stock had a trading volume of 241,275 shares, compared to its average volume of 97,348. Elutia has a 52-week low of $0.85 and a 52-week high of $5.12. The stock has a market cap of $37.95 million, a PE ratio of -0.84 and a beta of 0.78. The business has a 50 day moving average price of $1.11 and a 200 day moving average price of $1.69.

Elutia (NASDAQ:ELUT) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.15. The firm had revenue of $3.32 million for the quarter, compared to analysts’ expectations of $6.65 million. On average, equities analysts predict that Elutia will post -1.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Elutia

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AIGH Capital Management LLC raised its stake in Elutia by 10.0% during the 1st quarter. AIGH Capital Management LLC now owns 3,381,415 shares of the company’s stock valued at $8,555,000 after acquiring an additional 306,740 shares during the last quarter. Perkins Capital Management Inc. lifted its holdings in shares of Elutia by 32.1% during the first quarter. Perkins Capital Management Inc. now owns 1,136,377 shares of the company’s stock worth $2,875,000 after purchasing an additional 276,300 shares during the period. Knollwood Investment Advisory LLC lifted its position in shares of Elutia by 10.7% during the 1st quarter. Knollwood Investment Advisory LLC now owns 1,034,617 shares of the company’s stock valued at $2,618,000 after acquiring an additional 100,000 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in shares of Elutia during the 1st quarter worth approximately $28,000. Finally, Nantahala Capital Management LLC grew its holdings in shares of Elutia by 11.2% in the 1st quarter. Nantahala Capital Management LLC now owns 3,184,947 shares of the company’s stock worth $8,058,000 after acquiring an additional 320,000 shares during the period. Hedge funds and other institutional investors own 74.03% of the company’s stock.

About Elutia

Elutia Inc, a commercial-stage company, develops and commercializes drug-eluting biologics products for neurostimulation, wound care, and breast reconstruction in the United States. The company operates in three segments: Device Protection; Women's Health; and Cardiovascular. It offers CanGaroo Envelope, which is used to accommodate cardiac implantable electronic devices, such as pacemakers and internal defibrillators.