While Quanterix Corp has overperformed by 30.04%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, QTRX fell by -57.87%, with highs and lows ranging from $19.17 to $4.05, whereas the simple moving average fell by -30.57% 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 decrease in sales is -5.40%, showing a negative trend in the upcoming months.
Quanterix Corp’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -14.51% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 7.53, 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.
The average volume for any stock is also a very valuable indicator of volatility, and QTRX has an average volume of 740.41K. On a monthly basis, the volatility of the stock is set at 8.73%, whereas on a weekly basis, it is put at 15.65%, with a gain of 21.29% over the past seven days. Furthermore, long-term investors anticipate a median target price of $11.40, showing growth from the present price of $6.58, 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?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. 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 14.29%. 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 93.83% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
