Fluidigm (NASDAQ:FLDM) Downgraded to Buy at BidaskClub

BidaskClub downgraded shares of Fluidigm (NASDAQ:FLDM) from a strong-buy rating to a buy rating in a research note published on Thursday, BidAskClub reports.

A number of other analysts also recently issued reports on FLDM. UBS Group raised shares of Fluidigm from a neutral rating to a buy rating and dropped their price objective for the stock from $14.00 to $7.00 in a report on Friday, October 18th. Janney Montgomery Scott cut shares of Fluidigm from a buy rating to a neutral rating in a research report on Wednesday, November 6th. Piper Sandler decreased their target price on shares of Fluidigm from to in a research report on Tuesday. ValuEngine upgraded shares of Fluidigm from a hold rating to a buy rating in a research report on Friday, January 3rd. Finally, Zacks Investment Research upgraded shares of Fluidigm from a sell rating to a hold rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $10.45.

Shares of NASDAQ FLDM traded up $0.01 during mid-day trading on Thursday, reaching $3.65. 290,530 shares of the company were exchanged, compared to its average volume of 812,766. Fluidigm has a 52 week low of $2.12 and a 52 week high of $14.90. The company has a quick ratio of 2.44, a current ratio of 2.89 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $253.22 million, a PE ratio of -3.61 and a beta of 2.34. The company’s 50 day moving average price is $3.75 and its 200 day moving average price is $4.53.

Fluidigm (NASDAQ:FLDM) last posted its quarterly earnings data on Monday, February 10th. The medical research company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05). Fluidigm had a negative return on equity of 20.31% and a negative net margin of 55.26%. The company had revenue of $32.44 million for the quarter, compared to the consensus estimate of $32.14 million. The firm’s quarterly revenue was up .4% on a year-over-year basis. On average, sell-side analysts predict that Fluidigm will post -0.5 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its position in Fluidigm by 21,055.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,135 shares of the medical research company’s stock worth $29,000 after purchasing an additional 6,106 shares during the period. Banque Cantonale Vaudoise purchased a new position in Fluidigm in the 4th quarter worth $38,000. Metropolitan Life Insurance Co NY purchased a new position in Fluidigm in the 1st quarter worth $151,000. Bailard Inc. purchased a new position in Fluidigm in the 3rd quarter worth $59,000. Finally, Citigroup Inc. raised its position in Fluidigm by 131.7% in the 4th quarter. Citigroup Inc. now owns 14,243 shares of the medical research company’s stock worth $50,000 after purchasing an additional 8,095 shares during the period. Institutional investors own 90.91% of the company’s stock.

Fluidigm Company Profile

Fluidigm Corporation creates, manufactures, and markets technologies and tools for life sciences research in the United States and Europe. It offers analytical systems comprising Helios, a CyTOF system, Hyperion imaging system, and Hyperion tissue imager; and assays and reagents, including Maxpar reagents and Maxpar human immune monitoring panel kit and workflow.

Further Reading: Quiet Period

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