While Quanterix Corp has underperformed by -7.06%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, QTRX rose by 23.47%, with highs and lows ranging from $29.70 to $11.39, whereas the simple moving average fell by -33.98% in the last 200 days.
On February 01, 2024, Scotiabank started tracking Quanterix Corp (NASDAQ: QTRX) recommending Sector Outperform. A report published by Canaccord Genuity on September 25, 2023, Upgraded its rating to ‘Buy’ for QTRX. SVB Securities also Upgraded QTRX shares as ‘Outperform’, setting a target price of $30 on the company’s shares in a report dated August 08, 2023. Goldman May 23, 2023d the rating to Buy on May 23, 2023, and set its price target from $13 to $27. Canaccord Genuity August 15, 2022d its ‘Buy’ rating to ‘Hold’ for QTRX, as published in its report on August 15, 2022. SVB Leerink’s report from August 09, 2022 suggests a price prediction of $15 for QTRX shares, giving the stock a ‘Mkt Perform’ rating. Cowen also rated the stock as ‘Market Perform’.
Analysis of Quanterix Corp (QTRX)
Further, the quarter-over-quarter increase in sales is 22.17%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Quanterix Corp’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -9.16% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 9.26, 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and QTRX is recording an average volume of 343.08K. On a monthly basis, the volatility of the stock is set at 6.31%, whereas on a weekly basis, it is put at 7.23%, with a loss of -26.58% over the past seven days. Furthermore, long-term investors anticipate a median target price of $32.00, showing growth from the present price of $15.94, which can serve as yet another indication of whether QTRX is worth investing in or should be passed over.
How Do You Analyze Quanterix Corp Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 9.52%. 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 83.57% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
QTRX shares are owned by institutional investors to the tune of 83.57% at present.
