Sunday, September 27, 2020

PolarityTE Inc. [PTE] is -54.62% lower this YTD. Is it still time to buy?

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PolarityTE Inc. [NASDAQ: PTE] price surged by 13.46 percent to reach at $0.14. The company report on September 8, 2020 that PolarityTE Announces Strategic Partnership with Co-Diagnostics to Expand COVID-19 Testing Platform.

PolarityTE, Inc. (Nasdaq: PTE), a biotechnology company developing regenerative tissue products and biomaterials, today announced that its subsidiary, Arches Research, Inc., has entered into a strategic partnership with Co-Diagnostics, Inc. (Nasdaq: CODX) to expand COVID-19 testing operations.

Under the agreement, Arches will provide COVID-19 testing for customers referred by Co-Diagnostics and, to support additional demand, Co-Diagnostics will provide to Arches testing equipment in exchange for Arches’ commitment to use only Co-Diagnostics tests on the equipment. Arches has previously been performing COVID-19 testing for its customers using Co-Diagnostics’ Logix Smart™ COVID-19 test kit.

A sum of 4328299 shares traded at recent session while its average daily volume was at 1.35M shares. PolarityTE Inc. shares reached a high of $1.2699 and dropped to a low of $1.03 until finishing in the latest session at $1.18.

The average equity rating for PTE stock is currently 2.40, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on PolarityTE Inc. [PTE]:

Oppenheimer have made an estimate for PolarityTE Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on May 01, 2020. While these analysts kept the previous recommendation, Cantor Fitzgerald dropped their target price from $50 to $13. The new note on the price target was released on November 11, 2019, representing the official price target for PolarityTE Inc. stock. Previously, the target price had yet another raise to $8, while H.C. Wainwright analysts kept a Buy rating on PTE stock.

The Average True Range (ATR) for PolarityTE Inc. is set at 0.12, with the Price to Sales ratio for PTE stock in the period of the last 12 months amounting to 7.72. The Price to Book ratio for the last quarter was 1.53, with the Price to Cash per share for the same quarter was set at 0.76.

PTE Stock Performance Analysis:

PolarityTE Inc. [PTE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.48. With this latest performance, PTE shares dropped by -22.37% in over the last four-week period, additionally plugging by 3.51% over the last 6 months – not to mention a drop of -71.01% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PTE stock in for the last two-week period is set at 45.21, with the RSI for the last a single of trading hit 44.04, and the three-weeks RSI is set at 44.22 for PolarityTE Inc. [PTE]. The present Moving Average for the last 50 days of trading for this stock 1.4058, while it was recorded at 1.1160 for the last single week of trading, and 1.7264 for the last 200 days.

Insight into PolarityTE Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and PolarityTE Inc. [PTE] shares currently have an operating margin of -1585.23 and a Gross Margin at +3.20. PolarityTE Inc.’s Net Margin is presently recorded at -1636.46.

Return on Total Capital for PTE is now -150.58, given the latest momentum, and Return on Invested Capital for the company is -159.90. Return on Equity for this stock declined to -166.73, with Return on Assets sitting at -138.29. When it comes to the capital structure of this company, PolarityTE Inc. [PTE] has a Total Debt to Total Equity ratio set at 18.10. Additionally, PTE Total Debt to Total Capital is recorded at 15.32, with Total Debt to Total Assets ending up at 13.14. Long-Term Debt to Equity for the company is recorded at 10.95, with the Long-Term Debt to Total Capital now at 9.27.

Reflecting on the efficiency of the workforce at the company, PolarityTE Inc. [PTE] managed to generate an average of -$589,127 per employee. Receivables Turnover for the company is 4.63 with a Total Asset Turnover recorded at a value of 0.08.PolarityTE Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.80 and a Current Ratio set at 3.80.

PTE Stock EPS

With the latest financial reports released by the company, PolarityTE Inc. posted -0.87/share EPS, while the average EPS was predicted by analysts to be reported at -1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 13.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PTE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PolarityTE Inc. go to 15.00%.

PolarityTE Inc. [PTE] Insider Position Details

There are presently around $8 million, or 26.80% of PTE stock, in the hands of institutional investors. The top three institutional holders of PTE stocks are: CASTLE HOOK PARTNERS LP with ownership of 1,210,655, which is approximately 0% of the company’s market cap and around 26.60% of the total institutional ownership; VANGUARD GROUP INC, holding 1,029,652 shares of the stock with an approximate value of $1.22 million in PTE stocks shares; and DSAM PARTNERS (LONDON) LTD, currently with $1.0 million in PTE stock with ownership of nearly -7.813% of the company’s market capitalization.

Positions in PolarityTE Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 18 institutional holders increased their position in PolarityTE Inc. [NASDAQ:PTE] by around 705,691 shares. Additionally, 47 investors decreased positions by around 4,327,751 shares, while 11 investors held positions by with 1,674,042 shares. The mentioned changes placed institutional holdings at 6,707,484 shares, according to the latest SEC report filing. PTE stock had 9 new institutional investments in for a total of 254,195 shares, while 22 institutional investors sold positions of 2,072,287 shares during the same period.

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