BidaskClub Lowers Fluidigm (NASDAQ:FLDM) to Hold

BidaskClub downgraded shares of Fluidigm (NASDAQ:FLDM) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, BidAskClub reports.

Other equities analysts also recently issued reports about the stock. Piper Sandler raised their target price on shares of Fluidigm from $9.00 to $12.00 and gave the company an overweight rating in a report on Friday, August 7th. UBS Group raised their target price on shares of Fluidigm from $12.00 to $16.00 and gave the company a buy rating in a report on Thursday, August 27th. Zacks Investment Research downgraded shares of Fluidigm from a buy rating to a hold rating in a report on Wednesday, October 7th. ValuEngine downgraded shares of Fluidigm from a buy rating to a hold rating in a report on Thursday, August 27th. Finally, BTIG Research reiterated a buy rating and set a $12.00 price target on shares of Fluidigm in a report on Thursday, July 9th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $11.00.

Shares of FLDM opened at $6.75 on Thursday. The company has a 50-day simple moving average of $7.43 and a 200-day simple moving average of $5.35. The company has a quick ratio of 1.55, a current ratio of 2.05 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $481.38 million, a PE ratio of -8.65 and a beta of 2.05. Fluidigm has a 52-week low of $1.17 and a 52-week high of $12.45.

Fluidigm (NASDAQ:FLDM) last posted its earnings results on Thursday, August 6th. The medical research company reported ($0.18) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.05. Fluidigm had a negative net margin of 48.46% and a negative return on equity of 23.91%. The firm had revenue of $26.06 million during the quarter, compared to the consensus estimate of $21.98 million. On average, research analysts anticipate that Fluidigm will post -0.42 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cerity Partners LLC raised its stake in shares of Fluidigm by 9.4% during the second quarter. Cerity Partners LLC now owns 23,257 shares of the medical research company’s stock valued at $93,000 after purchasing an additional 2,000 shares during the period. American International Group Inc. increased its stake in shares of Fluidigm by 5.5% in the second quarter. American International Group Inc. now owns 43,163 shares of the medical research company’s stock worth $173,000 after buying an additional 2,234 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Fluidigm by 8.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 33,096 shares of the medical research company’s stock worth $133,000 after buying an additional 2,558 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Fluidigm by 7.0% in the second quarter. Bank of America Corp DE now owns 67,035 shares of the medical research company’s stock worth $268,000 after buying an additional 4,387 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Fluidigm in the second quarter worth $31,000. Institutional investors own 86.68% of the company’s stock.

About Fluidigm

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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