Fulgent Genetics (NASDAQ:FLGT) Stock Price Crosses Below 50-Day Moving Average – Here’s Why

Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $23.00 and traded as low as $14.79. Fulgent Genetics shares last traded at $14.95, with a volume of 884,083 shares traded.

Analyst Ratings Changes

Several equities analysts have recently commented on FLGT shares. Wall Street Zen lowered Fulgent Genetics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Zacks Research downgraded Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Fulgent Genetics in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.00.

Fulgent Genetics Stock Up 1.2%

The business has a 50-day simple moving average of $23.00 and a 200-day simple moving average of $24.33. The company has a market cap of $466.90 million, a PE ratio of -7.63 and a beta of 0.94.

Fulgent Genetics (NASDAQ:FLGT) last released its quarterly earnings results on Friday, February 27th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.02 by $0.14. Fulgent Genetics had a negative return on equity of 2.22% and a negative net margin of 18.75%.The business had revenue of $83.34 million during the quarter, compared to analyst estimates of $85.38 million. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. As a group, equities research analysts predict that Fulgent Genetics, Inc. will post -0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Fulgent Genetics

Institutional investors have recently bought and sold shares of the company. Amundi lifted its position in shares of Fulgent Genetics by 289.2% during the first quarter. Amundi now owns 34,316 shares of the company’s stock worth $583,000 after purchasing an additional 25,500 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Fulgent Genetics by 28.7% in the first quarter. Goldman Sachs Group Inc. now owns 202,820 shares of the company’s stock valued at $3,428,000 after purchasing an additional 45,279 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Fulgent Genetics by 1.6% in the second quarter. Geode Capital Management LLC now owns 513,343 shares of the company’s stock valued at $10,207,000 after purchasing an additional 8,105 shares in the last quarter. Creative Planning increased its stake in Fulgent Genetics by 146.2% during the 2nd quarter. Creative Planning now owns 40,021 shares of the company’s stock worth $796,000 after buying an additional 23,766 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in Fulgent Genetics during the 2nd quarter worth approximately $300,000. 48.06% of the stock is owned by institutional investors and hedge funds.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.