Polarityte Inc (NASDAQ:PTE) Expected to Announce Quarterly Sales of $1.41 Million

Equities analysts expect that Polarityte Inc (NASDAQ:PTE) will post sales of $1.41 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Polarityte’s earnings. The lowest sales estimate is $1.00 million and the highest is $1.70 million. The firm is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Polarityte will report full-year sales of $6.31 million for the current year, with estimates ranging from $5.72 million to $7.00 million. For the next fiscal year, analysts expect that the business will report sales of $25.11 million, with estimates ranging from $14.70 million to $39.45 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Polarityte.

Polarityte (NASDAQ:PTE) last announced its earnings results on Thursday, August 8th. The company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.13. The business had revenue of $1.32 million for the quarter, compared to analyst estimates of $1.57 million. During the same period last year, the firm earned ($0.74) EPS. The company’s revenue for the quarter was up 312.5% compared to the same quarter last year.

Several equities research analysts have issued reports on the stock. Oppenheimer set a $14.00 target price on shares of Polarityte and gave the stock a “buy” rating in a research note on Wednesday, August 21st. ValuEngine raised shares of Polarityte from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Northland Securities set a $50.00 target price on shares of Polarityte and gave the stock a “buy” rating in a research note on Monday, August 26th. HC Wainwright initiated coverage on shares of Polarityte in a research note on Monday, July 8th. They set a “buy” rating and a $8.00 target price on the stock. Finally, Cantor Fitzgerald set a $50.00 price target on Polarityte and gave the stock a “buy” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $23.41.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC purchased a new position in shares of Polarityte during the 1st quarter worth $24,884,000. BlackRock Inc. raised its holdings in shares of Polarityte by 24.9% during the 2nd quarter. BlackRock Inc. now owns 988,361 shares of the company’s stock worth $5,634,000 after acquiring an additional 196,956 shares during the period. Vanguard Group Inc. raised its holdings in shares of Polarityte by 22.1% during the 2nd quarter. Vanguard Group Inc. now owns 632,559 shares of the company’s stock worth $3,606,000 after acquiring an additional 114,413 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Polarityte during the 2nd quarter worth $2,835,000. Finally, Advisor Group Inc. purchased a new position in shares of Polarityte during the 1st quarter worth $2,242,000. Institutional investors and hedge funds own 41.51% of the company’s stock.

PTE traded up $0.10 on Tuesday, hitting $4.15. 198,195 shares of the company’s stock were exchanged, compared to its average volume of 349,596. Polarityte has a fifty-two week low of $3.40 and a fifty-two week high of $22.86. The company has a current ratio of 6.72, a quick ratio of 6.68 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $4.37 and a 200-day moving average price of $7.22. The stock has a market cap of $104.59 million, a price-to-earnings ratio of -0.85 and a beta of 1.57.

About Polarityte

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.

Featured Article: How to track put option volume

Get a free copy of the Zacks research report on Polarityte (PTE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Polarityte (NASDAQ:PTE)

Receive News & Ratings for Polarityte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Polarityte and related companies with MarketBeat.com's FREE daily email newsletter.