In the last trading session, 1.11 million shares of the PolarityTE Inc. (NASDAQ:PTE) were traded, and its beta was 0.99. Most recently the company’s share price was $0.62, and it changed around $0.03 or 5.37% from the last close, which brings the market valuation of the company to $47.90M. PTE currently trades at a discount to its 52-week high of $1.99, offering almost -220.97% off that amount. The share price’s 52-week low was $0.55, which indicates that the current value has risen by an impressive 11.29% since then. We note from PolarityTE Inc.’s average daily trading volume that its 10-day average is 0.87 million shares, with the 3-month average coming to 770.79K.
PolarityTE Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.30. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended PTE as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. PolarityTE Inc. is expected to report earnings per share of -$0.12 for the current quarter.
PolarityTE Inc. (NASDAQ:PTE) trade information
Instantly PTE has showed a green trend with a performance of 5.37% 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 0.6887 on Friday, 10/08/21 increased the stock’s daily price by 9.98%. The company’s shares are currently down -8.82% year-to-date, but still down -4.73% over the last five days. On the other hand, PolarityTE Inc. (NASDAQ:PTE) is -9.46% down in the 30-day period. We can see from the shorts that 4.58 million shares have been sold at a short interest cover period of 0.6 day(s).
The consensus price target as assigned by Wall Street analysts is $2.25, which translates to bulls needing to increase their stock price by 72.44% from its current value. Analyst projections state that PTE is forecast to be at a low of $2.00 and a high of $2.50. In order for the stock price to hit the forecast high, the stock would need to plunge -303.23% from its current level, while the stock would need to crash -222.58% from its current level to reach the projected low.
PolarityTE Inc. (PTE) estimates and forecasts
PolarityTE 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 fallen -34.81 percent over the past six months and at a 53.51% annual growth rate that is well above the industry average of 17.50%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 33.30% in revenue this quarter, and will report an increase of 53.80% in the next quarter. The year-over-year growth rate is expected to be -14.50%, down from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $810k in revenue for the current quarter. 3 analysts expect PolarityTE Inc. to make $730k in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $3.34 million and $3.59 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -75.70%. Forecasts for the next quarter put sales growth at -79.70%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 25.10%. PolarityTE Inc. earnings are expected to increase by 70.20% in 2021, but the outlook is positive 15.00% per year for the next five years.
PolarityTE Inc.’s next quarterly earnings report is expected to be released around November 08 and November 12.
PolarityTE Inc. (NASDAQ:PTE)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 16.44% of PolarityTE Inc. shares, and 16.95% of them are in the hands of institutional investors. The stock currently has a share float of 20.28%. PolarityTE Inc. stock is held by 65 institutions, with Advisor Group, Inc. being the largest institutional investor. By Mar 30, 2021, it held 2.79% of the shares, which is about 2.25 million shares worth $2.5 million.
FMR, LLC, with 2.49% or 2.01 million shares worth $2.23 million as of Mar 30, 2021, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Mar 30, 2021. The former held 0.6 million shares worth $0.67 million, making up 0.75% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 0.39 million shares worth around $0.43 million, which represents about 0.48% of the total shares outstanding.