Fluidigm (NASDAQ:FLDM) Stock Price Down 6.2%

Fluidigm Co. (NASDAQ:FLDM)’s stock price fell 6.2% on Wednesday . The stock traded as low as $3.30 and last traded at $3.35, 529,460 shares changed hands during mid-day trading. A decline of 31% from the average session volume of 769,420 shares. The stock had previously closed at $3.57.

Several brokerages recently weighed in on FLDM. Janney Montgomery Scott downgraded shares of Fluidigm from a “buy” rating to a “neutral” rating in a report on Wednesday, November 6th. Piper Sandler dropped their price objective on shares of Fluidigm from to in a research note on Tuesday, February 11th. BidaskClub raised shares of Fluidigm from a “buy” rating to a “strong-buy” rating in a research note on Saturday. ValuEngine raised shares of Fluidigm from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Finally, Zacks Investment Research raised shares of Fluidigm from a “sell” rating to a “hold” rating and set a $4.00 price objective on the stock in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $10.20.

The firm has a market cap of $258.78 million, a price-to-earnings ratio of -3.32 and a beta of 2.34. The business’s 50 day moving average price is $3.83 and its 200 day moving average price is $4.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.44 and a current ratio of 2.89.

Fluidigm (NASDAQ:FLDM) last issued its quarterly earnings data on Monday, February 10th. The medical research company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05). The firm had revenue of $32.44 million for the quarter, compared to analyst estimates of $32.14 million. Fluidigm had a negative return on equity of 20.31% and a negative net margin of 55.26%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts anticipate that Fluidigm Co. will post -0.44 earnings per share for the current fiscal year.

In related news, Director Nicolas Barthelemy purchased 12,257 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $3.64 per share, with a total value of $44,615.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY purchased a new position in Fluidigm in the first quarter worth about $151,000. FMR LLC purchased a new position in Fluidigm in the first quarter worth about $24,188,000. Bank of America Corp DE raised its holdings in Fluidigm by 64.7% in the second quarter. Bank of America Corp DE now owns 48,835 shares of the medical research company’s stock worth $602,000 after buying an additional 19,182 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Fluidigm in the third quarter worth about $965,000. Finally, Dupont Capital Management Corp raised its holdings in Fluidigm by 31.9% in the third quarter. Dupont Capital Management Corp now owns 60,680 shares of the medical research company’s stock worth $281,000 after buying an additional 14,690 shares during the last quarter. 90.91% of the stock is currently owned by hedge funds and other institutional investors.

About Fluidigm (NASDAQ:FLDM)

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.

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