In today’s recent session, 0.66 million shares of the T2 Biosystems Inc (NASDAQ:TTOO) have been traded, and its beta is 0.31. Most recently the company’s share price was $1.71, and it changed around -$0.11 or -6.04% from the last close, which brings the market valuation of the company to $29.89M. TTOO at last check was trading at a discount to its 52-week high of $33.20, offering almost -1841.52% off that amount. The share price’s 52-week low was $1.78, which indicates that the recent value has fallen by an impressive -4.09% since then. We note from T2 Biosystems Inc’s average daily trading volume that its 10-day average is 0.15 million shares, with the 3-month average coming to 173.37K.
T2 Biosystems Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.00. If we narrow it down even further, the data shows that 0 out of 5 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 2 recommended TTOO as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. T2 Biosystems Inc is expected to report earnings per share of -0.64 for the current quarter.
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T2 Biosystems Inc (NASDAQ:TTOO) trade information
Instantly TTOO has been showing red trend so far today with a performance of -6.04% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 1.9998 on recent trading dayincreased the stock’s daily price by 14.49%. The company’s shares are currently down -72.75% year-to-date, but still down -13.20% over the last five days. On the other hand, T2 Biosystems Inc (NASDAQ:TTOO) is -42.03% down in the 30-day period. We can see from the shorts that 0.37 million shares have been sold at a short interest cover period of 1.6 day(s).
The consensus price target as assigned by Wall Street analysts is $5, which translates to bulls needing to increase their stock price by 65.8% from its current value. Analyst projections state that TTOO is forecast to be at a low of $5 and a high of $5.
T2 Biosystems Inc (TTOO) estimates and forecasts
Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 92.00% in revenue this quarter, and will report an increase of 85.80% in the next quarter. The year-over-year growth rate is expected to be 47.40%, up from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of 2.8M in revenue for the current quarter. 1 analysts expect T2 Biosystems Inc to make 3.7M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 1.47M and 1.68M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 90.20%. Forecasts for the next quarter put sales growth at 120.40%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 68.62%.
TTOO Dividends
T2 Biosystems Inc’s next quarterly earnings report is expected to be released on 2024-Oct-10.
T2 Biosystems Inc (NASDAQ:TTOO)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 4.45% of T2 Biosystems Inc shares, and 74.65% of them are in the hands of institutional investors. The stock currently has a share float of 78.12%.
