Craig Hallum Initiates Coverage on QT Imaging (NASDAQ:QTI)

Analysts at Craig Hallum began coverage on shares of QT Imaging (NASDAQ:QTI) in a research note issued to investors on Monday, MarketBeat reports. The firm set a “buy” rating on the stock.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of QT Imaging in a research note on Friday, July 10th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.00.

QT Imaging Price Performance

QT Imaging stock opened at $2.58 on Monday. The firm has a market cap of $35.53 million, a PE ratio of -1.64 and a beta of 0.02. QT Imaging has a 52-week low of $2.00 and a 52-week high of $8.50. The company has a quick ratio of 2.06, a current ratio of 3.10 and a debt-to-equity ratio of 6.81. The company’s 50 day moving average is $2.74 and its two-hundred day moving average is $4.31.

QT Imaging (NASDAQ:QTI) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.53). The business had revenue of $7.44 million during the quarter, compared to analysts’ expectations of $7.60 million. QT Imaging had a negative net margin of 77.25% and a negative return on equity of 1,202.69%. On average, research analysts expect that QT Imaging will post -1.11 EPS for the current fiscal year.

Institutional Trading of QT Imaging

Several hedge funds have recently added to or reduced their stakes in QTI. Polar Asset Management Partners Inc. purchased a new position in QT Imaging in the second quarter worth approximately $210,000. BlackRock Inc. increased its position in shares of QT Imaging by 116.5% in the 2nd quarter. BlackRock Inc. now owns 61,353 shares of the company’s stock valued at $250,000 after purchasing an additional 33,009 shares during the last quarter. Finally, Stonepine Capital Management LLC purchased a new stake in shares of QT Imaging in the 2nd quarter valued at approximately $407,000. Institutional investors and hedge funds own 24.19% of the company’s stock.

QT Imaging Company Profile

QT Imaging Holdings, Inc develops medical imaging technology designed to support breast cancer screening and diagnostic procedures. The company’s flagship product, QTscan, is a three-dimensional, transmission-based breast imaging system that uses ultrasound technology to produce images without ionizing radiation, breast compression or injectable contrast agents.

QTscan is intended for use by healthcare providers as an imaging tool for evaluating breast tissue, including in patients with dense breasts.