Short Interest in Fulgent Genetics Inc (NASDAQ:FLGT) Decreases By 20.3%

Fulgent Genetics Inc (NASDAQ:FLGT) was the target of a significant decline in short interest in November. As of November 29th, there was short interest totalling 182,900 shares, a decline of 20.3% from the November 14th total of 229,400 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 252,500 shares, the days-to-cover ratio is currently 0.7 days.

FLGT stock traded down $0.07 during mid-day trading on Friday, hitting $13.57. 316,656 shares of the stock were exchanged, compared to its average volume of 448,106. The company has a debt-to-equity ratio of 0.04, a current ratio of 9.22 and a quick ratio of 9.22. The business has a fifty day moving average price of $11.62 and a 200 day moving average price of $9.55. Fulgent Genetics has a 12 month low of $3.09 and a 12 month high of $16.50. The stock has a market capitalization of $253.90 million, a price-to-earnings ratio of -71.42 and a beta of 1.02.

Fulgent Genetics (NASDAQ:FLGT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.08. Fulgent Genetics had a negative return on equity of 0.16% and a negative net margin of 3.52%. The firm had revenue of $10.35 million during the quarter, compared to analyst estimates of $8.48 million. As a group, equities analysts forecast that Fulgent Genetics will post 0.06 EPS for the current fiscal year.

Several equities analysts recently commented on FLGT shares. Zacks Investment Research cut Fulgent Genetics from a “strong-buy” rating to a “hold” rating and set a $14.00 target price for the company. in a research report on Tuesday, October 8th. ValuEngine upgraded Fulgent Genetics from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Piper Jaffray Companies upgraded Fulgent Genetics from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $9.50 to $12.30 in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Fulgent Genetics presently has a consensus rating of “Hold” and a consensus price target of $13.15.

Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new stake in Fulgent Genetics during the third quarter worth about $27,000. BlackRock Inc. lifted its stake in Fulgent Genetics by 15.9% during the second quarter. BlackRock Inc. now owns 16,607 shares of the company’s stock worth $111,000 after purchasing an additional 2,281 shares during the last quarter. River & Mercantile Asset Management LLP bought a new stake in Fulgent Genetics during the second quarter worth about $1,034,000. Finally, Raymond James Trust N.A. bought a new stake in Fulgent Genetics during the third quarter worth about $5,195,000. 15.65% of the stock is owned by hedge funds and other institutional investors.

About Fulgent Genetics

Fulgent Genetics, Inc, together with its subsidiaries, provides genetic testing services to physicians with clinically actionable diagnostic information. Its technology platform integrates data comparison and suppression algorithms, learning software, and genetic diagnostics tools and integrated laboratory processes.

Read More: What is a Lock-Up Period?

Receive News & Ratings for Fulgent Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fulgent Genetics and related companies with MarketBeat.com's FREE daily email newsletter.