HTG Molecular Diagnostics Inc (NASDAQ:HTGM)’s share price dropped 11.1% on Thursday . The company traded as low as $2.65 and last traded at $2.72. Approximately 544,052 shares changed hands during mid-day trading, an increase of 55% from the average daily volume of 350,386 shares. The stock had previously closed at $3.06.

HTGM has been the subject of a number of analyst reports. Cantor Fitzgerald reissued a “buy” rating and issued a $7.00 price target on shares of HTG Molecular Diagnostics in a report on Monday, January 14th. Zacks Investment Research raised HTG Molecular Diagnostics from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Thursday, January 10th. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of HTG Molecular Diagnostics in a report on Wednesday, December 19th. Finally, ValuEngine cut HTG Molecular Diagnostics from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. HTG Molecular Diagnostics currently has an average rating of “Buy” and a consensus target price of $6.25.

The firm has a market capitalization of $81.53 million, a price-to-earnings ratio of -4.53 and a beta of 1.84. The company has a debt-to-equity ratio of 0.32, a current ratio of 5.42 and a quick ratio of 5.23.

HTG Molecular Diagnostics (NASDAQ:HTGM) last released its quarterly earnings results on Thursday, March 7th. The medical research company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.13. HTG Molecular Diagnostics had a negative return on equity of 64.49% and a negative net margin of 76.52%. The company had revenue of $7.73 million during the quarter, compared to analysts’ expectations of $7.87 million. On average, research analysts anticipate that HTG Molecular Diagnostics Inc will post -0.59 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Kalos Management Inc. increased its stake in HTG Molecular Diagnostics by 6.5% in the fourth quarter. Kalos Management Inc. now owns 74,420 shares of the medical research company’s stock valued at $179,000 after purchasing an additional 4,520 shares during the last quarter. Virtu Financial LLC acquired a new position in HTG Molecular Diagnostics in the third quarter valued at $215,000. FMR LLC increased its stake in HTG Molecular Diagnostics by 2.9% in the third quarter. FMR LLC now owns 3,588,045 shares of the medical research company’s stock valued at $18,120,000 after purchasing an additional 100,000 shares during the last quarter. Stonepine Capital Management LLC increased its stake in HTG Molecular Diagnostics by 399.6% in the fourth quarter. Stonepine Capital Management LLC now owns 2,675,889 shares of the medical research company’s stock valued at $6,797,000 after purchasing an additional 2,140,299 shares during the last quarter. Finally, Symmetry Peak Management LLC acquired a new position in HTG Molecular Diagnostics in the third quarter valued at $429,000. Hedge funds and other institutional investors own 50.52% of the company’s stock.

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HTG Molecular Diagnostics Company Profile (NASDAQ:HTGM)

HTG Molecular Diagnostics, Inc develops and markets products and services based on proprietary technology that facilitates the routine use of targeted molecular profiling. The company offers instrumentation (or platforms); consumables comprising assay kits; and software analytics that automate sample processing and profiles various molecular targets.

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