Fulgent Genetics Inc (NASDAQ:FLGT) Given Average Rating of “Hold” by Analysts

Shares of Fulgent Genetics Inc (NASDAQ:FLGT) have received a consensus recommendation of “Hold” from the six ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $14.15.

A number of analysts have commented on FLGT shares. BidaskClub upgraded shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 14th. ValuEngine upgraded shares of Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Zacks Investment Research upgraded shares of Fulgent Genetics from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Tuesday, January 14th. Finally, Piper Jaffray Companies upgraded shares of Fulgent Genetics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $9.50 to $12.30 in a research note on Tuesday, November 5th.

FLGT stock traded down $0.61 during midday trading on Tuesday, reaching $13.70. 207,560 shares of the company’s stock traded hands, compared to its average volume of 268,342. The firm’s fifty day moving average price is $13.04 and its 200-day moving average price is $10.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 9.22 and a current ratio of 9.22. Fulgent Genetics has a 52 week low of $3.57 and a 52 week high of $16.50.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wedge Capital Management L L P NC purchased a new position in Fulgent Genetics during the 4th quarter worth $1,099,000. Calamos Advisors LLC purchased a new position in Fulgent Genetics during the 4th quarter worth $656,000. Russell Investments Group Ltd. purchased a new position in Fulgent Genetics during the 3rd quarter worth $27,000. Raymond James Trust N.A. purchased a new position in Fulgent Genetics during the 3rd quarter worth $5,195,000. Finally, River & Mercantile Asset Management LLP purchased a new position in Fulgent Genetics during the 2nd quarter worth $1,034,000. 15.65% of the stock is currently owned by hedge funds and other institutional investors.

About Fulgent Genetics

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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