Quanterix Corp (NASDAQ:QTRX) price on Thursday, January 16, rose 2.32% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $8.82.
A look at the stock’s price movement, the close in the last trading session was $8.62, moving within a range at $8.29 and $8.94. The beta value (5-Year monthly) was 1.362. Turning to its 52-week performance, $29.70 and $8.21 were the 52-week high and 52-week low respectively. Overall, QTRX moved -17.42% over the past month.
Quanterix Corp’s market cap currently stands at around $339.78 million, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 34.35M for the company’s revenue for the quarter, with a low and high estimate of 33.3M and 35.56M respectively. The average forecast suggests up to a 8.89% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 136.43M, representing a 11.50% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that QTRX is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 1 recommend QTRX as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
QTRX’s current price about -15.81% and -24.63% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 34.03, while 7-day volatility ratio is 14.78% and 8.65% in the 30-day chart. Further, Quanterix Corp (QTRX) has a beta value of 1.34, and an average true range (ATR) of 0.92. Analysts have given the company’s stock an average 52-week price target of $25, forecast between a low of $13 and high of $32. Looking at the price targets, the low is -47.39% off current price level while to achieve the yearly target high, price needs to move -262.81%. Nonetheless, investors will most likely welcome a -183.45% jump to $25 which is the analysts’ median price.
If we refocus on Quanterix Corp (NASDAQ:QTRX), historical trading data shows that trading volumes averaged 0.96 over the past 10 days and 498.75K over the past 3 months. The company’s latest data on shares outstanding shows there are 38.48 million shares.
The 6.76% of Quanterix Corp’s shares are in the hands of company insiders while institutional holders own 87.21% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 1.98 million on 2024-11-29, giving us a short ratio of 4.56. The data shows that as of 2024-11-29 short interest in Quanterix Corp (QTRX) stood at 548.0 of shares outstanding, with shares short falling to 1.99 million registered in 2024-10-31. Current price change has pushed the stock -17.03% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the QTRX stock continues to rise going into the next quarter.
