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PolarityTE Inc. (NASDAQ: PTE)’s 14.93% Gain This Week Just Tells Us Something New

During the last session, PolarityTE Inc. (NASDAQ:PTE)’s traded shares were 0.28 million, with the beta value of the company hitting 1.24. At the end of the trading day, the stock’s price was $1.54, reflecting an intraday loss of -9.41% or -$0.16. The 52-week high for the PTE share is $21.94, that puts it down -1324.68 from that peak though still a striking 17.53% gain since the share price plummeted to a 52-week low of $1.27. The company’s market capitalization is $6.67M, and the average intraday trading volume over the past 10 days was 0.13 million shares, and the average trade volume was 190.09K shares over the past three months.

PolarityTE Inc. (PTE) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.70. PTE has a Sell rating from 0 analyst(s) out of 2 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$1.25.

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PolarityTE Inc. (NASDAQ:PTE) trade information

PolarityTE Inc. (PTE) registered a -9.41% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -9.41% in intraday trading to $1.54 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is 14.93%, and it has moved by -2.53% in 30 days. Based on these gigs, the overall price performance for the year is -92.27%. The short interest in PolarityTE Inc. (NASDAQ:PTE) is 0.11 million shares and it means that shorts have 0.85 day(s) to cover.

The consensus price target of analysts on Wall Street is $15.38, which implies an increase of 89.99% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.00 and $28.75 respectively. As a result, PTE is trading at a discount of -1766.88% off the target high and -29.87% off the low.

PolarityTE Inc. (PTE) estimates and forecasts

Statistics show that PolarityTE Inc. has underperformed its competitors in share price, compared to the industry in which it operates. PolarityTE Inc. (PTE) shares have gone down -87.78% during the last six months, with a year-to-date growth rate less than the industry average at 5.26% against 11.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -25.00% this quarter and then drop -500.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -73.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $610k as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to $600k by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 57.30%. While earnings are projected to return 65.90% in 2022, the next five years will return 15.00% per annum.

PTE Dividends

PolarityTE Inc. is due to release its next quarterly earnings between March 28 and April 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

PolarityTE Inc. (NASDAQ:PTE)’s Major holders

PolarityTE Inc. insiders own 11.07% of total outstanding shares while institutional holders control 17.29%, with the float percentage being 19.45%. Armistice Capital, LLC is the largest shareholder of the company, while 43 institutions own stock in it. As of Mar 30, 2022, the company held over 0.34 million shares (or 7.58% of all shares), a total value of $2.07 million in shares.

The next largest institutional holding, with 0.11 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 2.50% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $0.68 million.

Also, the Mutual Funds coming in first place with the largest holdings of PolarityTE Inc. (PTE) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 74640.0 shares. This amounts to just over 1.67 percent of the company’s overall shares, with a $0.46 million market value. The same data shows that the other fund manager holds slightly less at 31876.0, or about 0.71% of the stock, which is worth about $0.2 million.

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