Equities analysts expect that NanoString Technologies Inc (NASDAQ:NSTG) will report sales of $34.20 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for NanoString Technologies’ earnings. The lowest sales estimate is $33.86 million and the highest is $34.53 million. NanoString Technologies posted sales of $30.03 million during the same quarter last year, which suggests a positive year over year growth rate of 13.9%. The company is scheduled to report its next earnings report on Thursday, March 5th.
On average, analysts expect that NanoString Technologies will report full-year sales of $122.83 million for the current year, with estimates ranging from $122.49 million to $123.17 million. For the next year, analysts anticipate that the business will report sales of $132.22 million, with estimates ranging from $129.18 million to $135.26 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover NanoString Technologies.
NanoString Technologies (NASDAQ:NSTG) last announced its earnings results on Monday, November 4th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.10). The firm had revenue of $30.60 million during the quarter, compared to analysts’ expectations of $28.05 million. NanoString Technologies had a negative net margin of 72.30% and a negative return on equity of 118.36%.
NSTG has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of NanoString Technologies from a “hold” rating to a “sell” rating in a research note on Saturday. ValuEngine upgraded shares of NanoString Technologies from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, BidaskClub upgraded shares of NanoString Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th.
In other news, SVP David W. Ghesquiere sold 18,421 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $28.23, for a total transaction of $520,024.83. Following the completion of the sale, the senior vice president now owns 52,572 shares in the company, valued at $1,484,107.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO R Bradley Gray sold 40,000 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $24.84, for a total transaction of $993,600.00. Following the sale, the chief executive officer now owns 89,905 shares of the company’s stock, valued at approximately $2,233,240.20. The disclosure for this sale can be found here. Insiders sold 86,253 shares of company stock valued at $2,207,923 in the last 90 days. 5.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its stake in shares of NanoString Technologies by 133.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 23,785 shares of the biotechnology company’s stock worth $722,000 after buying an additional 13,610 shares during the period. ARK Investment Management LLC boosted its stake in shares of NanoString Technologies by 1.4% during the second quarter. ARK Investment Management LLC now owns 3,526,095 shares of the biotechnology company’s stock worth $107,017,000 after buying an additional 49,569 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of NanoString Technologies by 101.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 946,219 shares of the biotechnology company’s stock worth $28,718,000 after buying an additional 477,313 shares during the period. Invesco Ltd. boosted its stake in shares of NanoString Technologies by 241.3% during the second quarter. Invesco Ltd. now owns 156,032 shares of the biotechnology company’s stock worth $4,736,000 after buying an additional 110,315 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of NanoString Technologies by 10.7% during the second quarter. Vanguard Group Inc. now owns 1,727,959 shares of the biotechnology company’s stock worth $52,443,000 after buying an additional 166,877 shares during the period.
NASDAQ NSTG traded down $0.63 on Thursday, reaching $23.12. The stock had a trading volume of 668,400 shares, compared to its average volume of 504,510. The company has a quick ratio of 4.76, a current ratio of 5.21 and a debt-to-equity ratio of 1.27. NanoString Technologies has a 12-month low of $13.26 and a 12-month high of $34.78. The firm has a market capitalization of $886.10 million, a price-to-earnings ratio of -8.32 and a beta of 1.20. The stock has a fifty day moving average price of $22.23 and a two-hundred day moving average price of $25.86.
About NanoString Technologies
NanoString Technologies, Inc provides life science tools for translational research and molecular diagnostic products worldwide. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system. It provides nCounter MAX and FLEX systems that include Prep Station, an automated liquid handling component that processes and prepares samples for data collection; and nCounter Digital Analyzer, which collects data from samples by taking images of the immobilized fluorescent reporters in the sample cartridge and processing the data into output files.
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