Quotient (NASDAQ:QTNT) Downgraded by BidaskClub to Hold

BidaskClub downgraded shares of Quotient (NASDAQ:QTNT) from a buy rating to a hold rating in a report released on Thursday, BidAskClub reports.

Several other equities analysts have also recently issued reports on QTNT. Zacks Investment Research raised shares of Quotient from a sell rating to a hold rating in a research note on Wednesday, May 8th. ValuEngine cut shares of Quotient from a buy rating to a hold rating in a research note on Thursday, August 1st.

QTNT traded up $0.03 during trading on Thursday, hitting $10.58. The stock had a trading volume of 505,024 shares, compared to its average volume of 277,514. The company has a quick ratio of 3.98, a current ratio of 5.17 and a debt-to-equity ratio of 72.27. The company has a market capitalization of $699.14 million, a price-to-earnings ratio of -5.51 and a beta of 0.91. The business has a 50-day moving average of $10.10. Quotient has a twelve month low of $5.52 and a twelve month high of $11.30.

Quotient (NASDAQ:QTNT) last announced its quarterly earnings data on Monday, August 5th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.03. The company had revenue of $8.17 million for the quarter, compared to analysts’ expectations of $8.40 million. Quotient had a negative net margin of 352.75% and a negative return on equity of 2,676.12%. As a group, analysts predict that Quotient will post -1.57 earnings per share for the current year.

In related news, Director Frederick Hallsworth purchased 3,150 shares of the stock in a transaction dated Thursday, June 13th. The shares were acquired at an average cost of $8.70 per share, with a total value of $27,405.00. Following the purchase, the director now directly owns 74,398 shares in the company, valued at approximately $647,262.60. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Jeremy Stackawitz sold 21,495 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $9.93, for a total transaction of $213,445.35. Following the transaction, the president now directly owns 131,939 shares in the company, valued at $1,310,154.27. The disclosure for this sale can be found here. Corporate insiders own 14.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Clearbridge Investments LLC lifted its stake in Quotient by 2.8% in the first quarter. Clearbridge Investments LLC now owns 2,456,616 shares of the company’s stock valued at $22,134,000 after buying an additional 67,290 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Quotient in the second quarter valued at approximately $195,000. PNC Financial Services Group Inc. purchased a new position in Quotient in the first quarter valued at approximately $1,854,000. Niemann Capital Management Inc. purchased a new position in Quotient in the first quarter valued at approximately $101,000. Finally, Artisan Partners Limited Partnership purchased a new position in Quotient in the first quarter valued at approximately $3,342,000. 63.67% of the stock is currently owned by institutional investors and hedge funds.

Quotient Company Profile

Quotient Limited, a commercial-stage diagnostics company, develops, manufactures, and commercializes conventional reagent products used for blood grouping in the transfusion diagnostics market worldwide. The company is developing MosaiQ, a proprietary technology platform, which provides tests for blood grouping and serological disease screening.

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