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 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.
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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