Accelerate Diagnostics (NASDAQ:AXDX) Stock Crosses Below 200-Day Moving Average – Time to Sell?

Shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.32 and traded as low as $0.51. Accelerate Diagnostics shares last traded at $0.55, with a volume of 5,223 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Accelerate Diagnostics in a research note on Friday. They set a “hold” rating for the company.

Accelerate Diagnostics Trading Down 1.8 %

The company has a market cap of $13.84 million, a P/E ratio of -0.19 and a beta of 0.46. The company’s 50-day moving average price is $0.94 and its two-hundred day moving average price is $1.32.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Thursday, March 20th. The medical research company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.13. The firm had revenue of $2.82 million for the quarter, compared to analyst estimates of $3.00 million. As a group, analysts anticipate that Accelerate Diagnostics, Inc. will post -2.3 earnings per share for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

A number of hedge funds have recently added to or reduced their stakes in AXDX. Y Intercept Hong Kong Ltd bought a new position in shares of Accelerate Diagnostics in the 3rd quarter worth about $34,000. Jane Street Group LLC acquired a new stake in Accelerate Diagnostics during the fourth quarter worth about $27,000. Renaissance Technologies LLC lifted its holdings in Accelerate Diagnostics by 160.6% in the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock worth $128,000 after acquiring an additional 65,984 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Accelerate Diagnostics by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock valued at $163,000 after acquiring an additional 8,777 shares during the period. Institutional investors and hedge funds own 17.14% of the company’s stock.

About Accelerate Diagnostics

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. The company offers Accelerate Pheno system, an in vitro diagnostic platform for the identification and antibiotic susceptibility testing of pathogens associated with serious or health care-associated infections, including gram-positive and gram-negative organisms.