Fulgent Genetics, Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 2.5. If we narrow it down even further, the data shows that 1 out of 4 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 1 recommended FLGT as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. Fulgent Genetics, Inc. is expected to report earnings per share of $4.05 for the current quarter.
Fulgent Genetics, Inc. (NASDAQ:FLGT): Trading Information
Although FLGT has showed a red trend with a performance of -2.97% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $174.2 on Friday, Feb 12 increased the stock’s daily price by 23.68%. The company’s shares are currently up 1.55% year-to-date, but still down -0.222 over the last five days. On the other hand, Fulgent Genetics, Inc. (NASDAQ:FLGT) is 0.73% up in the 30-day period. We can see from the shorts that 4.18 Million shares have been sold at a short interest cover period of 1.96 day(s).
The consensus price target as assigned by Wall Street analysts is $101.67, which translates to bears needing to reduce their stock price by -23.57% from its current value. Analyst projections state that FLGT is forecast to be at a low of $40 and a high of $135. In order for the stock price to hit the forecast high, the stock would need to surge +1.49% from its current level, while the stock would need to crash -69.93% from its current level to reach the projected low.
Fulgent Genetics, Inc. (FLGT) projections and forecasts
Fulgent Genetics, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +202.25 percent over the past six months and at a 3389.47% annual growth rate that is well above the industry average of 15.2%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +10025% in revenue this quarter, and will report an increase of 19266.7% in the next quarter. The year-over-year growth rate is expected to be 902.8%, up from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $199.44 Million in revenue for the current quarter. 4 analysts expect Fulgent Genetics, Inc. to make $245.05 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarter a year ago was $8.39 Million. Analysts predict that the company’s current quarter sales will jump, forecast at 2278%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 17.3%. Fulgent Genetics, Inc. earnings are expected to increase by 93% in 2021, but the outlook is positive 72.66% per year for the next five years.
Fulgent Genetics, Inc. (NASDAQ:FLGT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 41.14% of Fulgent Genetics, Inc. shares, and 34.79% of them are in the hands of institutional investors. The stock currently has a share float of 59.1%. Fulgent Genetics, Inc. stock is held by 176 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2020, it held 8.18% of the shares, which is about 1.98 Million shares worth $103.41 Million.
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