$5.54 Million in Sales Expected for HTG Molecular Diagnostics Inc (NASDAQ:HTGM) This Quarter

Wall Street analysts expect that HTG Molecular Diagnostics Inc (NASDAQ:HTGM) will report sales of $5.54 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for HTG Molecular Diagnostics’ earnings. The highest sales estimate is $6.00 million and the lowest is $5.08 million. HTG Molecular Diagnostics posted sales of $4.91 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.8%. The company is scheduled to announce its next earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that HTG Molecular Diagnostics will report full year sales of $24.91 million for the current year, with estimates ranging from $24.21 million to $25.60 million. For the next year, analysts forecast that the firm will post sales of $32.99 million, with estimates ranging from $30.55 million to $35.43 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow HTG Molecular Diagnostics.

HTG Molecular Diagnostics (NASDAQ:HTGM) last released its quarterly earnings results on Thursday, May 9th. The medical research company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The firm had revenue of $3.20 million during the quarter, compared to analyst estimates of $2.77 million. HTG Molecular Diagnostics had a negative return on equity of 75.50% and a negative net margin of 80.03%.

HTGM has been the topic of a number of analyst reports. Cantor Fitzgerald set a $6.00 target price on HTG Molecular Diagnostics and gave the company a “buy” rating in a report on Monday, April 8th. Canaccord Genuity reiterated a “buy” rating and set a $5.00 target price on shares of HTG Molecular Diagnostics in a report on Tuesday, May 14th. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of HTG Molecular Diagnostics in a report on Tuesday, June 18th. Finally, Zacks Investment Research upgraded HTG Molecular Diagnostics from a “sell” rating to a “hold” rating in a report on Friday, May 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. HTG Molecular Diagnostics currently has an average rating of “Buy” and an average target price of $6.00.

Large investors have recently made changes to their positions in the business. Jane Street Group LLC acquired a new stake in HTG Molecular Diagnostics during the 4th quarter valued at $27,000. Raymond James Financial Services Advisors Inc. acquired a new stake in HTG Molecular Diagnostics during the 4th quarter valued at $29,000. Cowen Prime Services LLC acquired a new stake in HTG Molecular Diagnostics during the 1st quarter valued at $50,000. Millennium Management LLC acquired a new stake in HTG Molecular Diagnostics during the 4th quarter valued at $151,000. Finally, Kalos Management Inc. lifted its stake in shares of HTG Molecular Diagnostics by 6.5% during the 4th quarter. Kalos Management Inc. now owns 74,420 shares of the medical research company’s stock worth $179,000 after purchasing an additional 4,520 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

HTGM opened at $1.66 on Friday. The stock has a 50 day moving average price of $2.13. The firm has a market cap of $48.41 million, a PE ratio of -2.77 and a beta of 1.86. The company has a current ratio of 6.30, a quick ratio of 6.05 and a debt-to-equity ratio of 0.63. HTG Molecular Diagnostics has a 1-year low of $1.64 and a 1-year high of $5.46.

HTG Molecular Diagnostics Company Profile

HTG Molecular Diagnostics, Inc a commercial stage life sciences company, focuses on the precision medicine. The company offers instrumentation (or platforms); consumables comprising assay kits; and software analytics that automate sample processing and profiles various molecular targets. Its platforms generate a molecular profiling library for detection using next-generation sequencing.

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Earnings History and Estimates for HTG Molecular Diagnostics (NASDAQ:HTGM)

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