T2 Biosystems Inc. (NASDAQ:TTOO) price closed lower on Monday, September 13, dropping -7.52% below its previous close.
A look at the daily price movement shows that the last close reads $1.07, with intraday deals fluctuated between $0.923 and $1.04. The company’s 5Y monthly beta was ticking 0.27. Taking into account the 52-week price action we note that the stock hit a 52-week high of $3.79 and 52-week low of $0.85. The stock subtracted -3.93% on its value in the past month.
T2 Biosystems Inc., which has a market valuation of $132.89 million, is expected to release its quarterly earnings report Nov 02, 2021 – Nov 08, 2021. Analysts tracking TTOO have forecast the quarterly EPS to shrink by -0.08 per share this quarter, while the same analysts predict the annual EPS to hit -$0.32 for the year 2021 and up to -$0.3 for 2022. In this case, analysts estimate an annual EPS growth of 17.90% for the year and 6.30% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $5.62 million, with the likely lows of $5.4 million and highs of $5.9 million. The average estimate suggests sales growth for the quarter will likely rise by 7.10% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $25.2 million for the company’s annual revenue in 2021. Per this projection, the revenue is forecast to grow 39.00% above that which the company brought in 2021.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give TTOO a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 4 analysts have assigned TTOO a recommendation rating as follows: 1 rate it as a Hold; 3 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the T2 Biosystems Inc. (TTOO) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Overweight, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that TTOO’s price is at present 6.72% off the SMA20 and -2.46% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 52.30, with weekly volatility standing at 7.91%. The indicator jumps to 5.34% when calculated based on the past 30 days. T2 Biosystems Inc. (NASDAQ:TTOO)’s beta value is holding at 0.29, while the average true range (ATR) indicator is currently reading 0.07. Considering analysts have assigned the stock a price target range of $1.25-$3.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $2.31. Based on this estimate, we see that current price is roughly -26.26% off the estimated low and -203.03% off the forecast high. Investors will no doubt be excited to see the share price fall to $2.50, which is the median consensus price, and at that level TTOO would be -152.53% from current price.
An analysis of the T2 Biosystems Inc. (NASDAQ:TTOO) stock in terms of its daily trading volume indicates that the 3-month average is 3.51 million.
Current records show that the company has 154.88M in outstanding shares. The insiders’ percentage holdings are 0.70% of outstanding shares while the percentage share held by institutions stands at 16.90%. But the -20.20% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.