NanoString Technologies Inc. (NASDAQ:NSTG) marked $10.45 per share on Monday, down from a previous closing price of $10.78. While NanoString Technologies Inc. has underperformed by -3.06%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NSTG fell by -66.29%, with highs and lows ranging from $41.00 to $4.37, whereas the simple moving average fell by -17.19% in the last 200 days.
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On March 24, 2022, Canaccord Genuity started tracking NanoString Technologies Inc. (NASDAQ: NSTG) recommending Buy. A report published by Cowen on January 06, 2021, Upgraded its rating to ‘Outperform’ for NSTG. Morgan Stanley also rated NSTG shares as ‘Equal-Weight’, setting a target price of $43 on the company’s shares in an initiating report dated September 09, 2020. UBS initiated its ‘Buy’ rating for NSTG, as published in its report on October 09, 2018. Morgan Stanley also rated the stock as ‘Equal-Weight’.
Analysis of NanoString Technologies Inc. (NSTG)
Further, the quarter-over-quarter decrease in sales is -20.70%, showing a negative trend in the upcoming months.
In order to gain a clear picture of NanoString Technologies Inc.’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 -111.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 5.40, 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 1.02M can be a very valuable indicator of volatility for NSTG stock. On a monthly basis, the volatility of the stock is set at 8.39%, whereas on a weekly basis, it is put at 7.30%, with a loss of -3.86% over the past seven days. Furthermore, long-term investors anticipate a median target price of $17.00, showing growth from the present price of $10.45, which can serve as yet another indication of whether NSTG is worth investing in or should be passed over.
How Do You Analyze NanoString Technologies Inc. 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 0.80%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in NSTG shares?
The recent increase in stakes in NSTG appears to be a result of several institutional investors and hedge funds increasing their positions. Wellington Management Co. LLP’s position in NSTG has decreased by -8.03% in the first quarter. The company now owns 5,729,786 shares of the stock, with a value of $45.67 million, following the sale of -500,182 additional shares during the last quarter. RA Capital Management LP made another increased to its shares in NSTG during the first quarter, upping its stake by 28.40%. During the last quarter, the company dropped down 1,018,000 additional shares for a total stake of worth $36.68 million, bringing number of shares owned by the company to 4,602,478.
During the first quarter, BlackRock Fund Advisors subtracted a -104,746 position in NSTG. The Vanguard Group, Inc. sold an additional 65415.0 shares in the last quarter, decreasing its holdings by -1.96%, now holding 3.28 million shares worth $26.14 million. At the end of the first quarter, Polar Capital LLP increased its NSTG holdings by 27.15% and now holds 2.58 million NSTG shares valued at $20.53 million with the added 0.55 million shares during the period.
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