Wall Street brokerages expect Polarityte Inc (NASDAQ:PTE) to announce $1.62 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Polarityte’s earnings. The highest sales estimate is $1.80 million and the lowest is $1.30 million. The company is expected to issue its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Polarityte will report full year sales of $5.82 million for the current fiscal year, with estimates ranging from $5.50 million to $6.02 million. For the next fiscal year, analysts expect that the business will post sales of $14.73 million, with estimates ranging from $10.75 million to $20.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Polarityte.
Polarityte (NASDAQ:PTE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.87) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.01) by $0.14. The business had revenue of $1.40 million during the quarter, compared to analysts’ expectations of $1.41 million. During the same period in the prior year, the company posted ($0.86) earnings per share.
Institutional investors and hedge funds have recently bought and sold shares of the company. Voloridge Investment Management LLC purchased a new stake in shares of Polarityte during the 3rd quarter worth about $49,000. Bernardo Wealth Planning LLC purchased a new stake in shares of Polarityte during the 2nd quarter worth about $68,000. Marshall Wace North America L.P. purchased a new stake in shares of Polarityte during the 1st quarter worth about $73,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Polarityte during the 2nd quarter worth about $86,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Polarityte during the 2nd quarter worth about $89,000. 32.88% of the stock is owned by institutional investors.
Polarityte stock traded down $0.04 during mid-day trading on Monday, hitting $3.20. The company’s stock had a trading volume of 127,232 shares, compared to its average volume of 327,689. The firm’s 50 day moving average is $2.99 and its 200 day moving average is $4.48. The company has a market cap of $87.43 million, a PE ratio of -0.66 and a beta of 1.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.65 and a quick ratio of 3.62. Polarityte has a 52-week low of $2.10 and a 52-week high of $18.17.
PolarityTE, Inc, a biotechnology and regenerative biomaterials company, focuses on discovering, designing, and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences in the United States. The company operates in two segments, Regenerative Medicine and Contract Services.
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