PolarityTE Inc. [NASDAQ: PTE] traded at a high on 02/02/21, posting a 7.88 gain after which it closed the day’ session at $1.04. The company report on January 22, 2021 that PolarityTE, Inc. Announces Exercise of Warrants for Gross Proceeds of $7.67 Million.
PolarityTE, Inc. (Nasdaq: PTE), a company focused on transforming the lives of patients by discovering, designing, and developing a range of regenerative tissue products and biomaterials, announced the agreement by an accredited investor to exercise certain warrants to purchase up to an aggregate of 10,688,043 shares of common stock having an exercise price of $0.624 issued by the company in December 2020. The shares of common stock issuable upon exercise of the warrants are registered pursuant to a registration statement on Form S-3 (File No. 333-229584). In consideration for the immediate exercise of the warrants for cash, the company will sell to the exercising holder an additional warrant pursuant to the registration statement. The new warrant will be exercisable into an aggregate of up to 8,016,033 shares of common stock at an exercise price of $1.20 per share and a term of exercise equal to five years. The purchase price of the additional warrant will be $1,002,004, or $0.125 per warrant share.
The gross proceeds to the company from the exercise of the warrants and the sale of the additional warrants are expected to be $7,671,343, prior to deducting placement agent fees and estimated offering expenses.
The results of the trading session contributed to over 6148998 shares changing hands. Over the past one week, the price volatility of PolarityTE Inc. stands at 10.35% while the volatility over the past one month is 15.53%.
The market cap for PTE stock reached $77.36 million, with 38.76 million shares outstanding and 28.72 million shares in the current float. Compared to the average trading volume of 5.97M shares, PTE reached a trading volume of 6148998 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 0.13, with the Price to Sales ratio for PTE stock in the period of the last 12 months amounting to 9.67. The Price to Book ratio for the last quarter was 1.65, with the Price to Cash per share for the same quarter was set at 0.31.
How has PTE stock performed recently?
PolarityTE Inc. [PTE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.44. With this latest performance, PTE shares gained by 52.94% in over the last four-week period, additionally sinking by -35.80% over the last 6 months – not to mention a drop of -67.40% 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 56.12, with the RSI for the last a single of trading hit 55.90, and the three-weeks RSI is set at 55.73 for PolarityTE Inc. [PTE]. The present Moving Average for the last 50 days of trading for this stock 0.8211, while it was recorded at 0.9701 for the last single week of trading, and 1.0738 for the last 200 days.
PolarityTE Inc. [PTE]: Deeper insight into the 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 3.10 and a Current Ratio set at 3.20.
Earnings analysis for PolarityTE Inc. [PTE]
With the latest financial reports released by the company, PolarityTE Inc. posted -0.76/share EPS, while the average EPS was predicted by analysts to be reported at -0.9/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.60%. 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%.
Insider trade positions for PolarityTE Inc. [PTE]
There are presently around $7 million, or 13.30% 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 14.70% of the total institutional ownership; VANGUARD GROUP INC, holding 938,552 shares of the stock with an approximate value of $0.98 million in PTE stocks shares; and DSAM PARTNERS (LONDON) LTD, currently with $0.88 million in PTE stock with ownership of nearly 0% of the company’s market capitalization.
Positions in PolarityTE Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 12 institutional holders increased their position in PolarityTE Inc. [NASDAQ:PTE] by around 579,048 shares. Additionally, 33 investors decreased positions by around 760,214 shares, while 12 investors held positions by with 5,219,396 shares. The mentioned changes placed institutional holdings at 6,558,658 shares, according to the latest SEC report filing. PTE stock had 4 new institutional investments in for a total of 310,377 shares, while 18 institutional investors sold positions of 472,470 shares during the same period.