BidaskClub Upgrades Fulgent Genetics (NASDAQ:FLGT) to Hold

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Fulgent Genetics (NASDAQ:FLGT) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, BidAskClub reports.

A number of other brokerages have also recently weighed in on FLGT. Zacks Investment Research cut Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Piper Jaffray Companies raised Fulgent Genetics from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $9.50 to $12.30 in a research note on Tuesday, November 5th. Finally, ValuEngine raised Fulgent Genetics from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $14.15.

NASDAQ FLGT traded down $0.13 during trading on Tuesday, hitting $13.92. The company’s stock had a trading volume of 2,645 shares, compared to its average volume of 253,947. The company has a quick ratio of 9.22, a current ratio of 9.22 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $12.93 and a 200 day moving average price of $10.81. The firm has a market cap of $262.88 million, a P/E ratio of -73.21 and a beta of 1.05. Fulgent Genetics has a 52 week low of $3.57 and a 52 week high of $16.50.

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

Several large investors have recently bought and sold shares of the business. Raymond James Trust N.A. bought a new stake in shares of Fulgent Genetics during the 3rd quarter valued at $5,195,000. River & Mercantile Asset Management LLP acquired a new position in shares of Fulgent Genetics during the 2nd quarter worth $1,034,000. Wedge Capital Management L L P NC acquired a new position in shares of Fulgent Genetics during the 4th quarter worth $1,099,000. Calamos Advisors LLC acquired a new position in shares of Fulgent Genetics during the 4th quarter worth $656,000. Finally, BlackRock Inc. raised its holdings in shares of Fulgent Genetics by 15.9% during the 2nd quarter. BlackRock Inc. now owns 16,607 shares of the company’s stock worth $111,000 after buying an additional 2,281 shares in the last quarter. 15.65% of the stock is currently 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.

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