HTG Molecular Diagnostics, Inc. (HTGM) Sees Strong Trading Volume
HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) shares saw strong trading volume on Wednesday . 916,571 shares were traded during trading, an increase of 63% from the previous session’s volume of 561,894 shares.The stock last traded at $1.80 and had previously closed at $1.73.
A number of analysts have weighed in on the company. Zacks Investment Research cut HTG Molecular Diagnostics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. ValuEngine raised HTG Molecular Diagnostics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Finally, HC Wainwright set a $6.00 price objective on HTG Molecular Diagnostics and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. HTG Molecular Diagnostics has an average rating of “Hold” and an average price target of $6.17.
The company’s 50 day moving average is $1.84 and its 200-day moving average is $1.84. The firm’s market capitalization is $23.58 million.
HTG Molecular Diagnostics (NASDAQ:HTGM) last issued its quarterly earnings data on Tuesday, August 8th. The medical research company reported ($0.60) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.60). The business had revenue of $1.76 million during the quarter, compared to the consensus estimate of $1.80 million. Equities analysts anticipate that HTG Molecular Diagnostics, Inc. will post ($2.29) earnings per share for the current fiscal year.
In related news, major shareholder Holdings A/S Novo sold 1,149,813 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $1.81, for a total value of $2,081,161.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,659,998 shares of company stock valued at $3,073,696 over the last three months. Corporate insiders own 7.60% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HTGM. Vanguard Group Inc. lifted its position in HTG Molecular Diagnostics by 38.9% in the second quarter. Vanguard Group Inc. now owns 135,234 shares of the medical research company’s stock worth $359,000 after purchasing an additional 37,841 shares during the period. Granahan Investment Management Inc. MA acquired a new stake in HTG Molecular Diagnostics in the first quarter worth approximately $228,000. Two Sigma Securities LLC acquired a new stake in HTG Molecular Diagnostics in the first quarter worth approximately $150,000. Finally, UBS Group AG acquired a new stake in HTG Molecular Diagnostics in the first quarter worth approximately $137,000. Hedge funds and other institutional investors own 21.67% of the company’s stock.
About HTG Molecular Diagnostics
HTG Molecular Diagnostics, Inc is a commercial-stage company that develops and markets a technology platform to facilitate the routine use of complex molecular profiling. The Company’s HTG Edge and HTG EdgeSeq platforms, consisting of instrumentation, consumables and software analytics, are used in sample profiling applications, including tumor profiling, molecular diagnostic testing and biomarker development.
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