Quanterix Corporation (NASDAQ:QTRX) marked $15.95 per share on Tuesday, up from a previous closing price of $15.18. While Quanterix Corporation has overperformed by 5.07%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, QTRX fell by -70.13%, with highs and lows ranging from $60.92 to $14.58, whereas the simple moving average fell by -47.76% in the last 200 days.
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On March 02, 2022, Goldman Upgraded Quanterix Corporation (NASDAQ: QTRX) to Neutral. Goldman also rated QTRX shares as ‘Sell’, setting a target price of $53 on the company’s shares in an initiating report dated June 04, 2021.
Analysis of Quanterix Corporation (QTRX)
Further, the quarter-over-quarter increase in sales is 8.80%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Quanterix Corporation’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -14.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 12.90, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 344.72K can be a very valuable indicator of volatility for QTRX stock. On a monthly basis, the volatility of the stock is set at 6.59%, whereas on a weekly basis, it is put at 5.57%, with a loss of -4.32% over the past seven days. Furthermore, long-term investors anticipate a median target price of $38.25, showing growth from the present price of $15.95, which can serve as yet another indication of whether QTRX is worth investing in or should be passed over.
How Do You Analyze Quanterix Corporation Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.60%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 87.50% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in QTRX shares?
The recent increase in stakes in QTRX appears to be a result of several institutional investors and hedge funds increasing their positions. Macquarie Investment Management B’s position in QTRX has decreased by -14.20% in the first quarter. The company now owns 2,659,037 shares of the stock, with a value of $43.05 million, following the sale of -440,071 additional shares during the last quarter. Gilder, Gagnon, Howe & Co. LLC made another decreased to its shares in QTRX during the first quarter, downing its stake by -20.61%. During the last quarter, the company dropped down -584,527 additional shares for a total stake of worth $36.45 million, bringing number of shares owned by the company to 2,251,472.
During the first quarter, BlackRock Fund Advisors subtracted a -5,516 position in QTRX. Millennium Management LLC purchased an additional 0.77 million shares in the last quarter, increasing its holdings by 73.15%, now holding 1.82 million shares worth $29.46 million. At the end of the first quarter, The Vanguard Group, Inc. decreased its QTRX holdings by -1.12% and now holds 1.68 million QTRX shares valued at $27.12 million with the lessened 18895.0 shares during the period. QTRX shares are owned by institutional investors to the tune of 87.50% at present.