Zacks Investment Research Downgrades Quotient Limited (QTNT) to Strong Sell
Zacks Investment Research downgraded shares of Quotient Limited (NASDAQ:QTNT) from a hold rating to a strong sell rating in a research note released on Wednesday.
According to Zacks, “Quotient Limited is a commercial-stage transfusion diagnostics company. It is focused on supplying blood-grouping consumables and developing MosaiQ, a fully automated platform for use in donor centers and patient-testing sites. Quotient Limited is headquartered in Edinburgh, Scotland and Newton, Pennsylvania. “
QTNT has been the subject of a number of other reports. BTIG Research reaffirmed a buy rating and issued a $22.00 price objective on shares of Quotient Limited in a research note on Tuesday, April 18th. ValuEngine raised shares of Quotient Limited from a strong sell rating to a sell rating in a research note on Friday, June 30th.
Quotient Limited (QTNT) opened at 5.42 on Wednesday. The company’s 50-day moving average is $6.84 and its 200-day moving average is $6.74. Quotient Limited has a 12 month low of $3.75 and a 12 month high of $8.64. The stock’s market capitalization is $77.92 million.
Quotient Limited (NASDAQ:QTNT) last released its quarterly earnings data on Monday, May 22nd. The company reported ($0.69) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.76) by $0.07. Quotient Limited had a negative net margin of 382.71% and a negative return on equity of 1,303.22%. The company had revenue of $5.53 million during the quarter, compared to analyst estimates of $4.30 million. Equities research analysts forecast that Quotient Limited will post ($2.04) EPS for the current year.
In other Quotient Limited news, insider D J. Paul E. Cowan sold 90,580 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $6.39, for a total transaction of $578,806.20. Following the completion of the sale, the insider now directly owns 26,666 shares of the company’s stock, valued at $170,395.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider D J. Paul E. Cowan sold 45,032 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $6.57, for a total transaction of $295,860.24. Following the sale, the insider now directly owns 26,666 shares of the company’s stock, valued at $175,195.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,612 shares of company stock valued at $1,061,671. Insiders own 40.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in QTNT. FNY Partners Fund LP purchased a new stake in Quotient Limited during the first quarter valued at approximately $636,000. Perceptive Advisors LLC raised its stake in Quotient Limited by 2.2% in the first quarter. Perceptive Advisors LLC now owns 2,917,785 shares of the company’s stock valued at $20,372,000 after buying an additional 63,299 shares during the last quarter. Nicholas Hoffman & Company LLC. purchased a new stake in Quotient Limited during the first quarter valued at approximately $150,000. Finally, Ameriprise Financial Inc. raised its stake in Quotient Limited by 3.1% in the first quarter. Ameriprise Financial Inc. now owns 1,739,838 shares of the company’s stock valued at $12,161,000 after buying an additional 52,761 shares during the last quarter. 38.61% of the stock is owned by institutional investors and hedge funds.
Quotient Limited Company Profile
Quotient Limited is a diagnostics company. The Company focuses on blood grouping and donor disease screening, which is referred to as transfusion diagnostics. It is engaged in developing, manufacturing and commercializing conventional reagent products used for blood grouping within the global transfusion diagnostics market.
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