Fulgent Genetics Inc. [FLGT] stock Downgrade by Credit Suisse analyst, price target now $40

Fulgent Genetics Inc. [NASDAQ: FLGT] traded at a low on 06/01/21, posting a -6.52 loss after which it closed the day’ session at $69.24. The company report on May 10, 2021 that Fulgent Genetics Announces Incremental Strategic Investment in Chinese Joint Venture, FF Gene Biotech.

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Investment gives Fulgent controlling ownership of its Chinese Joint Venture entity, FF Gene Biotech.

Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent Genetics” or the “Company”), a technology company providing comprehensive testing solutions through its scalable technology platform, announced that the Company has made an incremental strategic investment in FF Gene Biotech, the Chinese entity formed in 2017 through a Joint Venture (“JV”) between Fulgent Genetics, Xilong Scientific and Fuzhou Jinqiang Investment Partnership (FJIP). Fulgent has made a cash investment of approximately $19.0 million in the Chinese entity, which gives Fulgent a majority stake and controlling ownership of FF Gene Biotech.

The results of the trading session contributed to over 1017653 shares changing hands. Over the past one week, the price volatility of Fulgent Genetics Inc. stands at 5.49% while the volatility over the past one month is 6.03%.

The market cap for FLGT stock reached $2.08 billion, with 28.83 million shares outstanding and 19.05 million shares in the current float. Compared to the average trading volume of 1.37M shares, FLGT reached a trading volume of 1017653 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $87.00 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 4.44, with the Price to Sales ratio for FLGT stock in the period of the last 12 months amounting to 2.70. The Price to Book ratio for the last quarter was 2.49, with the Price to Cash per share for the same quarter was set at 13.61. Price to Free Cash Flow for FLGT in the course of the last twelve months was 6.38 with Quick ratio for the last quarter at 3.40.

How has FLGT stock performed recently?

Fulgent Genetics Inc. [FLGT] 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, FLGT shares dropped by -10.10% in over the last four-week period, additionally plugging by 70.42% over the last 6 months – not to mention a rise of 284.67% 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 39.58, with the RSI for the last a single of trading hit 38.32, and the three-weeks RSI is set at 41.04 for Fulgent Genetics Inc. [FLGT]. The present Moving Average for the last 50 days of trading for this stock 83.03, while it was recorded at 73.51 for the last single week of trading, and 67.64 for the last 200 days.

Fulgent Genetics Inc. [FLGT]: Deeper insight into the 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 3.40 and a Current Ratio set at 3.40.

Earnings analysis for Fulgent Genetics Inc. [FLGT]

With the latest financial reports released by the company, Fulgent Genetics Inc. posted 0.17/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 surpassed the estimates by a Surprise Factor of 950.00%. 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.

Insider trade positions for Fulgent Genetics Inc. [FLGT]

There are presently around $696 million, or 35.50% of FLGT stock, in the hands of institutional investors. The top three institutional holders of FLGT stocks are: BLACKROCK INC. with ownership of 2,586,130, which is approximately 30.292% of the company’s market cap and around 31.80% of the total institutional ownership; VANGUARD GROUP INC, holding 1,051,515 shares of the stock with an approximate value of $72.81 million in FLGT stocks shares; and INVESCO LTD., currently with $38.99 million in FLGT stock with ownership of nearly -16.531% 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 170 institutional holders increased their position in Fulgent Genetics Inc. [NASDAQ:FLGT] by around 2,287,405 shares. Additionally, 94 investors decreased positions by around 2,077,474 shares, while 14 investors held positions by with 5,684,022 shares. The mentioned changes placed institutional holdings at 10,048,901 shares, according to the latest SEC report filing. FLGT stock had 85 new institutional investments in for a total of 375,479 shares, while 31 institutional investors sold positions of 741,609 shares during the same period.

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