Zacks: Analysts Anticipate Polarityte Inc (NASDAQ:PTE) to Announce -$1.06 EPS

Wall Street analysts expect that Polarityte Inc (NASDAQ:PTE) will announce earnings per share (EPS) of ($1.06) for the current quarter, according to Zacks. Four analysts have issued estimates for Polarityte’s earnings. The highest EPS estimate is ($0.81) and the lowest is ($1.25). The company is expected to announce its next quarterly earnings results before the market opens on Thursday, August 8th.

On average, analysts expect that Polarityte will report full-year earnings of ($4.40) per share for the current year, with EPS estimates ranging from ($4.85) to ($3.65). For the next financial year, analysts expect that the company will post earnings of ($3.72) per share, with EPS estimates ranging from ($4.75) to ($2.37). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Polarityte.

Polarityte (NASDAQ:PTE) last released its quarterly earnings data on Friday, May 10th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.17). The firm had revenue of $1.50 million during the quarter, compared to analyst estimates of $1.33 million. The company’s revenue was up 49900.0% compared to the same quarter last year.

Several equities analysts have recently issued reports on PTE shares. Northland Securities set a $50.00 price target on Polarityte and gave the company a “buy” rating in a research note on Friday, May 10th. National Securities cut their target price on Polarityte from $5.00 to $3.00 and set a “sell” rating on the stock in a research note on Monday, May 13th. HC Wainwright initiated coverage on Polarityte in a research note on Monday, July 8th. They issued a “buy” rating and a $8.00 target price on the stock. Cantor Fitzgerald set a $65.00 target price on Polarityte and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Zacks Investment Research raised Polarityte from a “sell” rating to a “buy” rating and set a $6.25 target price on the stock in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $27.28.

In other news, Director Peter A. Cohen acquired 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was acquired at an average cost of $5.63 per share, for a total transaction of $84,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Paul Elliot Mann acquired 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were purchased at an average price of $5.33 per share, with a total value of $186,550.00. The disclosure for this purchase can be found here. Insiders acquired 54,000 shares of company stock valued at $293,680 over the last 90 days. Corporate insiders own 43.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Cheyne Capital Management UK LLP bought a new position in Polarityte in the first quarter valued at approximately $1,056,000. Comprehensive Portfolio Management LLC raised its holdings in Polarityte by 29.9% in the second quarter. Comprehensive Portfolio Management LLC now owns 28,200 shares of the company’s stock valued at $161,000 after buying an additional 6,498 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Polarityte in the first quarter valued at approximately $427,000. Advisor Group Inc. acquired a new stake in Polarityte in the first quarter valued at approximately $2,242,000. Finally, Bank of Montreal Can acquired a new stake in Polarityte in the first quarter valued at approximately $54,000. Hedge funds and other institutional investors own 41.61% of the company’s stock.

Shares of PTE traded down $0.06 during trading hours on Wednesday, hitting $4.76. 182,514 shares of the stock traded hands, compared to its average volume of 336,495. The company has a quick ratio of 5.55, a current ratio of 5.59 and a debt-to-equity ratio of 0.07. Polarityte has a 1-year low of $4.07 and a 1-year high of $30.88. The stock has a market capitalization of $113.72 million, a price-to-earnings ratio of -0.98 and a beta of 1.49. The firm has a fifty day simple moving average of $5.45.

Polarityte Company Profile

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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Earnings History and Estimates for Polarityte (NASDAQ:PTE)

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