Fulgent Genetics (NASDAQ:FLGT) Stock Price Up 6%

Shares of Fulgent Genetics Inc (NASDAQ:FLGT) rose 6% during mid-day trading on Wednesday . The stock traded as high as $12.20 and last traded at $11.86, approximately 295,200 shares changed hands during trading. An increase of 228% from the average daily volume of 90,014 shares. The stock had previously closed at $11.19.

FLGT has been the topic of several research reports. ValuEngine raised Fulgent Genetics from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Zacks Investment Research lowered 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, Piper Jaffray Companies raised 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. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $13.15.

The stock has a fifty day moving average of $11.46 and a 200-day moving average of $9.24. The stock has a market cap of $221.90 million, a PE ratio of -62.42 and a beta of 1.01. The company has a quick ratio of 9.22, a current ratio of 9.22 and a debt-to-equity ratio of 0.04.

Fulgent Genetics (NASDAQ:FLGT) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.08. Fulgent Genetics had a negative return on equity of 0.16% and a negative net margin of 3.52%. The company had revenue of $10.35 million for the quarter, compared to analyst estimates of $8.48 million. Equities research analysts forecast that Fulgent Genetics Inc will post 0.06 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Trust N.A. purchased a new stake in Fulgent Genetics in the 3rd quarter valued at approximately $5,195,000. River & Mercantile Asset Management LLP purchased a new stake in Fulgent Genetics in the 2nd quarter valued at approximately $1,034,000. BlackRock Inc. boosted its holdings in Fulgent Genetics by 15.9% in the 2nd 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. Finally, Russell Investments Group Ltd. purchased a new stake in Fulgent Genetics in the 3rd quarter valued at approximately $27,000. 15.65% of the stock is currently owned by institutional investors.

Fulgent Genetics Company Profile (NASDAQ:FLGT)

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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