CryoPort (NASDAQ:CYRX) released its earnings results on Thursday. The consumer goods maker reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01, Briefing.com reports. CryoPort had a negative net margin of 62.80% and a negative return on equity of 45.60%. The company had revenue of $5.30 million during the quarter, compared to analyst estimates of $5.06 million. During the same period in the prior year, the firm posted $0.08 EPS. The firm’s quarterly revenue was up 76.7% compared to the same quarter last year.
CYRX traded down $0.19 during trading on Friday, reaching $11.37. 180,626 shares of the company traded hands, compared to its average volume of 217,421. CryoPort has a 12-month low of $6.02 and a 12-month high of $16.88. The firm has a market cap of $329.71 million, a P/E ratio of -33.44 and a beta of 1.42.
A number of equities research analysts have issued reports on the stock. B. Riley assumed coverage on shares of CryoPort in a report on Wednesday, October 10th. They set a “buy” rating and a $22.00 price objective for the company. BidaskClub lowered shares of CryoPort from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. Finally, Cowen increased their price objective on shares of CryoPort from $11.00 to $16.00 and gave the company an “outperform” rating in a report on Monday, August 13th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CryoPort currently has an average rating of “Buy” and an average price target of $19.75.
Several hedge funds have recently bought and sold shares of the stock. Fred Alger Management Inc. purchased a new position in shares of CryoPort in the second quarter valued at $43,068,000. BlackRock Inc. grew its holdings in shares of CryoPort by 507.7% in the second quarter. BlackRock Inc. now owns 1,745,626 shares of the consumer goods maker’s stock valued at $27,545,000 after purchasing an additional 1,458,357 shares in the last quarter. Creative Planning grew its holdings in shares of CryoPort by 0.8% in the second quarter. Creative Planning now owns 603,540 shares of the consumer goods maker’s stock valued at $9,524,000 after purchasing an additional 4,860 shares in the last quarter. Millennium Management LLC grew its holdings in shares of CryoPort by 205.0% in the first quarter. Millennium Management LLC now owns 434,068 shares of the consumer goods maker’s stock valued at $3,733,000 after purchasing an additional 291,737 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in shares of CryoPort by 4.1% in the second quarter. OppenheimerFunds Inc. now owns 426,735 shares of the consumer goods maker’s stock valued at $6,734,000 after purchasing an additional 16,904 shares in the last quarter. 48.25% of the stock is owned by hedge funds and other institutional investors.
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Cryoport, Inc provides cryogenic logistics solutions to the life sciences industry in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, a dry vapor cryogenic shipper that use liquid nitrogen contained inside a vacuum insulated vessel, which serves as a refrigerant to provide stable storage temperatures.
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