Wall Street analysts expect Polarityte Inc (NASDAQ:PTE) to post sales of $1.62 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Polarityte’s earnings, with estimates ranging from $1.30 million to $1.80 million. The business is scheduled to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Polarityte will report full year sales of $5.82 million for the current financial year, with estimates ranging from $5.50 million to $6.02 million. For the next fiscal year, analysts expect that the business will post sales of $14.73 million, with estimates ranging from $10.75 million to $20.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Polarityte.
Several research firms have issued reports on PTE. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Polarityte in a research note on Wednesday, November 13th. Zacks Investment Research upgraded Polarityte from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Wednesday, January 1st. Piper Jaffray Companies cut their target price on Polarityte from $26.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Northland Securities restated a “buy” rating and set a $20.00 price target on shares of Polarityte in a research note on Thursday, December 5th. Finally, Cantor Fitzgerald dropped their price target on Polarityte from $50.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $11.75.
Institutional investors have recently added to or reduced their stakes in the stock. Comprehensive Portfolio Management LLC lifted its holdings in shares of Polarityte by 74.2% during the fourth quarter. Comprehensive Portfolio Management LLC now owns 58,700 shares of the company’s stock worth $153,000 after purchasing an additional 25,000 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Polarityte during the third quarter worth about $109,000. Bernardo Wealth Planning LLC lifted its holdings in Polarityte by 91.7% in the third quarter. Bernardo Wealth Planning LLC now owns 23,000 shares of the company’s stock valued at $74,000 after acquiring an additional 11,000 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Polarityte by 38.3% in the third quarter. Oppenheimer & Co. Inc. now owns 57,522 shares of the company’s stock valued at $186,000 after acquiring an additional 15,923 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Polarityte by 22.1% in the second quarter. Vanguard Group Inc. now owns 632,559 shares of the company’s stock valued at $3,606,000 after acquiring an additional 114,413 shares during the period. 28.45% of the stock is owned by hedge funds and other institutional investors.
Shares of Polarityte stock traded down $0.06 during trading on Friday, hitting $1.37. 911,856 shares of the stock traded hands, compared to its average volume of 668,754. The firm has a market cap of $41.95 million, a P/E ratio of -0.28 and a beta of 1.60. The company has a current ratio of 3.65, a quick ratio of 3.62 and a debt-to-equity ratio of 0.07. Polarityte has a 52-week low of $1.34 and a 52-week high of $17.75. The stock’s fifty day simple moving average is $2.87 and its 200 day simple moving average is $3.24.
Polarityte Company Profile
PolarityTE, Inc, a biotechnology and regenerative biomaterials company, focuses on discovering, designing, and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences in the United States. The company operates in two segments, Regenerative Medicine and Contract Services.
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