Credit Suisse slashes price target on Fulgent Genetics Inc. [FLGT] – find out why.

Fulgent Genetics Inc. [NASDAQ: FLGT] closed the trading session at $79.59 on 04/29/21. The day’s price range saw the stock hit a low of $78.579, while the highest price level was $87.2767. The company report on April 16, 2021 that Fulgent Genetics to Announce First Quarter 2021 Financial Results on Thursday May 6, 2021.

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Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent Genetics” or the “company”), a technology company providing comprehensive testing solutions through its scalable technology platform, announced that it will release its first quarter 2021 financial results after the market closes on Thursday May 6, 2021. The company’s Chairman and Chief Executive Officer Ming Hsieh, Chief Financial Officer Paul Kim and Chief Commercial Officer Brandon Perthuis will host a conference call for the investment community the same day at 4:30 PM ET (1:30 PM PT) to discuss the results and answer questions.

The call can be accessed through a live audio webcast in the Investors section of the company’s website, http://ir.fulgentgenetics.com, and through a live conference call by dialing (800) 353-6461 using the confirmation code 9490797. An audio replay will be available in the Investors section of the company’s website.

The stocks have a year to date performance of 52.76 percent and weekly performance of -8.29 percent. The stock has been moved at 118.95 percent over the last six months. The stock has performed -13.81 percent around the most recent 30 days and changed -13.95 percent over the most recent 3-months.

If compared to the average trading volume of 1.76M shares, FLGT reached to a volume of 1538774 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Fulgent Genetics Inc. [FLGT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FLGT shares is $89.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FLGT stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for Fulgent Genetics Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 08, 2021. The new note on the price target was released on November 24, 2020, representing the official price target for Fulgent Genetics Inc. stock. Previously, the target price had yet another raise to $75, while Oppenheimer analysts kept a Outperform rating on FLGT stock.

The Average True Range (ATR) for Fulgent Genetics Inc. is set at 7.00, with the Price to Sales ratio for FLGT stock in the period of the last 12 months amounting to 5.60. The Price to Book ratio for the last quarter was 3.55, with the Price to Cash per share for the same quarter was set at 10.09. Price to Free Cash Flow for FLGT in the course of the last twelve months was 22.38 with Quick ratio for the last quarter at 4.00.

FLGT stock trade performance evaluation

Fulgent Genetics Inc. [FLGT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.29. With this latest performance, FLGT shares dropped by -13.81% in over the last four-week period, additionally plugging by 118.95% over the last 6 months – not to mention a rise of 360.32% 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 FLGT stock in for the last two-week period is set at 38.59, with the RSI for the last a single of trading hit 33.77, and the three-weeks RSI is set at 42.04 for Fulgent Genetics Inc. [FLGT]. The present Moving Average for the last 50 days of trading for this stock 97.83, while it was recorded at 85.38 for the last single week of trading, and 62.82 for the last 200 days.

Fulgent Genetics Inc. [FLGT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Fulgent Genetics Inc. [FLGT] shares currently have an operating margin of +68.80 and a Gross Margin at +78.70. Fulgent Genetics Inc.’s Net Margin is presently recorded at +51.85.

Return on Total Capital for FLGT is now 86.52, given the latest momentum, and Return on Invested Capital for the company is 66.77. Return on Equity for this stock inclined to 67.06, with Return on Assets sitting at 54.98. When it comes to the capital structure of this company, Fulgent Genetics Inc. [FLGT] has a Total Debt to Total Equity ratio set at 2.78. Additionally, FLGT Total Debt to Total Capital is recorded at 2.71, with Total Debt to Total Assets ending up at 2.25. Long-Term Debt to Equity for the company is recorded at 0.10, with the Long-Term Debt to Total Capital now at 0.10.

Reflecting on the efficiency of the workforce at the company, Fulgent Genetics Inc. [FLGT] managed to generate an average of $509,706 per employee. Receivables Turnover for the company is 3.99 with a Total Asset Turnover recorded at a value of 1.06.Fulgent Genetics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 4.00.

Earnings per share (EPS) analysis for Fulgent Genetics Inc. [FLGT] stock

With the latest financial reports released by the company, Fulgent Genetics Inc. posted -0.03/share EPS, while the average EPS was predicted by analysts to be reported at 0.02/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -250.00%. 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 FLGT.

Fulgent Genetics Inc. [FLGT]: Insider Ownership positions

There are presently around $759 million, or 34.30% of FLGT stock, in the hands of institutional investors. The top three institutional holders of FLGT stocks are: BLACKROCK INC. with ownership of 1,984,867, which is approximately 25.085% of the company’s market cap and around 31.80% of the total institutional ownership; VANGUARD GROUP INC, holding 892,536 shares of the stock with an approximate value of $71.04 million in FLGT stocks shares; and INVESCO LTD., currently with $53.7 million in FLGT stock with ownership of nearly 71.676% of the company’s market capitalization.

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Positions in Fulgent Genetics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 150 institutional holders increased their position in Fulgent Genetics Inc. [NASDAQ:FLGT] by around 2,773,704 shares. Additionally, 62 investors decreased positions by around 1,797,314 shares, while 9 investors held positions by with 4,961,601 shares. The mentioned changes placed institutional holdings at 9,532,619 shares, according to the latest SEC report filing. FLGT stock had 82 new institutional investments in for a total of 1,076,567 shares, while 23 institutional investors sold positions of 316,062 shares during the same period.

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