In the last trading session, 52,707,638 shares of the Conformis, Inc.(NASDAQ:CFMS) were traded, and its beta was 1.34. Most recently the company’s share price was $1.24, and it changed around $0.17 or 0.16% from the last close, which brings the market valuation of the company to $118.48 Million. CFMS currently trades at a discount to its 52-week high of $1.49, offering almost -20.16% off that amount. The share price’s 52-week low was $0.5, which indicates that the current value has risen by an impressive 59.68% since then. We note from Conformis, Inc.’s average daily trading volume that its 10-day average is 6.53 Million shares, with the 3-month average coming to 3.69 Million.
Conformis, Inc. stock received a consensus recommendation rating of Overweight, based on a mean score of 2. 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, no body recommended CFMS as a Hold, whereas 3 deemed it a Buy, and no one rated it as Underweight. Conformis, Inc. is expected to report earnings per share of -$0.1 for the current quarter.
Conformis, Inc. (NASDAQ:CFMS): Trading Information
Instantly CFMS has showed a green trend with a performance of 15.89% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $1.4 on Monday, Feb 22 increased the stock’s daily price by 11.43%. The company’s shares are currently up 0.88% year-to-date, but still up 0.1071 over the last five days. On the other hand, Conformis, Inc. (NASDAQ:CFMS) is -0.11% down in the 30-day period. We can see from the shorts that 893.49 Million shares have been sold at a short interest cover period of 242.14 day(s).
The consensus price target as assigned by Wall Street analysts is $2.33, which translates to bears needing to increase their stock price by 87.9% from its current value. Analyst projections state that CFMS is forecast to be at a low of $2 and a high of $3. In order for the stock price to hit the forecast high, the stock would need to surge +141.94% from its current level, while the stock would need to crash 61.29% from its current level to reach the projected low.
Conformis, Inc. (CFMS) projections and forecasts
Conformis, Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +87.88 percent over the past six months and at a 18.18% annual growth rate that is well below the industry average of 20.3%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -25% in revenue this quarter, and will report an increase of 42.9% in the next quarter. The year-over-year growth rate is expected to be -9.5%, down from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $17.68 Million in revenue for the current quarter. 2 analysts expect Conformis, Inc. to make $16.68 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $19.89 Million and $16.48 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -11.1%. Forecasts for the next quarter put sales growth at 1.2%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 17.6%. Conformis, Inc. earnings are expected to increase by 39.7% in 2021, but the outlook is negative -14.58% per year for the next five years.
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Conformis, Inc. (NASDAQ:CFMS)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 7.11% of Conformis, Inc. shares, and 30.64% of them are in the hands of institutional investors. The stock currently has a share float of 32.98%. Conformis, Inc. stock is held by 68 institutions, with Armistice Capital, LLC being the largest institutional investor. By Sep 29, 2020, it held 8.7% of the shares, which is about 7.48 Million shares worth $6.26 Million.
Renaissance Technologies, LLC, with 6.85% or 5.88 Million shares worth $3.88 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.