Fulgent Genetics Inc (NASDAQ:FLGT) Short Interest Update

Fulgent Genetics Inc (NASDAQ:FLGT) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 135,700 shares, an increase of 45.3% from the September 30th total of 93,400 shares. Approximately 2.1% of the shares of the company are sold short. Based on an average daily trading volume, of 94,000 shares, the days-to-cover ratio is presently 1.4 days.

Shares of FLGT traded down $0.02 on Wednesday, reaching $13.64. The company’s stock had a trading volume of 393,800 shares, compared to its average volume of 60,432. The company has a debt-to-equity ratio of 0.05, a current ratio of 11.96 and a quick ratio of 11.96. Fulgent Genetics has a 12-month low of $3.05 and a 12-month high of $16.50. The stock has a market capitalization of $292.45 million, a P/E ratio of -71.79 and a beta of 0.93. The stock’s 50 day simple moving average is $11.19 and its two-hundred day simple moving average is $8.66.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.08. Fulgent Genetics had a negative net margin of 3.52% and a negative return on equity of 0.17%. The business had revenue of $10.35 million for the quarter, compared to the consensus estimate of $8.48 million. Analysts expect that Fulgent Genetics will post 0.06 earnings per share for the current year.

FLGT has been the topic of a number of research reports. Piper Jaffray Companies raised shares of Fulgent Genetics from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $9.50 to $12.30 in a report on Tuesday, November 5th. Zacks Investment Research downgraded shares of Fulgent Genetics from a “strong-buy” rating to a “hold” rating and set a $14.00 price objective on the stock. in a report on Tuesday, October 8th. Finally, ValuEngine raised shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Fulgent Genetics has a consensus rating of “Hold” and a consensus target price of $13.15.

Large investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Fulgent Genetics by 15.9% during the second quarter. BlackRock Inc. now owns 16,607 shares of the company’s stock valued at $111,000 after purchasing an additional 2,281 shares in the last quarter. Raymond James Trust N.A. purchased a new position in Fulgent Genetics during the third quarter valued at approximately $5,195,000. River & Mercantile Asset Management LLP purchased a new position in Fulgent Genetics during the second quarter valued at approximately $1,034,000. Finally, Russell Investments Group Ltd. purchased a new position in Fulgent Genetics during the third quarter valued at approximately $27,000. 9.21% of the stock is currently owned by institutional investors and hedge funds.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, learning software, and genetic diagnostics tools and integrated laboratory processes.

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