Equities analysts predict that NanoString Technologies Inc (NASDAQ:NSTG) will report $34.20 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for NanoString Technologies’ earnings. The highest sales estimate is $34.53 million and the lowest is $33.86 million. NanoString Technologies reported sales of $30.03 million during the same quarter last year, which would suggest a positive year over year growth rate of 13.9%. The business is expected to announce its next quarterly earnings results 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 fiscal year, analysts forecast that the business will report sales of $132.22 million, with estimates ranging from $129.18 million to $135.26 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow NanoString Technologies.
NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings data on Monday, November 4th. The biotechnology company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.10). The business had revenue of $30.60 million during the quarter, compared to the consensus estimate of $28.05 million. NanoString Technologies had a negative return on equity of 118.36% and a negative net margin of 72.30%.
Shares of NASDAQ NSTG traded down $0.63 during mid-day trading on Thursday, reaching $23.12. The company’s stock had a trading volume of 668,400 shares, compared to its average volume of 504,510. The company has a debt-to-equity ratio of 1.27, a current ratio of 5.21 and a quick ratio of 4.76. The stock has a fifty day moving average of $22.23 and a two-hundred day moving average of $25.86. NanoString Technologies has a 52 week low of $13.26 and a 52 week high of $34.78. The firm has a market capitalization of $886.10 million, a PE ratio of -8.32 and a beta of 1.20.
In other NanoString Technologies news, Director Charles P. Waite, Jr. sold 1,707 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $21.75, for a total transaction of $37,127.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kirk Malloy sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $25.05, for a total value of $25,050.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $25,050. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,253 shares of company stock worth $2,207,923. Company insiders own 5.10% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in NanoString Technologies during the 3rd quarter worth $608,000. California Public Employees Retirement System increased its holdings in NanoString Technologies by 49.9% during the 3rd quarter. California Public Employees Retirement System now owns 83,343 shares of the biotechnology company’s stock worth $1,799,000 after purchasing an additional 27,762 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in NanoString Technologies by 314.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,917,182 shares of the biotechnology company’s stock worth $84,572,000 after purchasing an additional 2,970,963 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in NanoString Technologies by 56.9% during the 3rd quarter. Nikko Asset Management Americas Inc. now owns 3,904,451 shares of the biotechnology company’s stock worth $84,297,000 after purchasing an additional 1,416,190 shares during the period. Finally, Fisher Asset Management LLC purchased a new position in NanoString Technologies during the 3rd quarter worth $2,920,000.
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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