NanoString Technologies Inc. [NASDAQ: NSTG] closed the trading session at $6.22 on 11/08/22. The day’s price range saw the stock hit a low of $4.37, while the highest price level was $7.81. The company report on November 7, 2022 that NanoString Technologies Releases Operating Results for Third Quarter of 2022.
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NanoString Technologies, Inc. (NASDAQ:NSTG), a leading provider of life science tools for discovery and translational research, today reported financial results for the third quarter ended September 30, 2022.
The stocks have a year to date performance of -85.27 percent and weekly performance of -41.87 percent. The stock has been moved at -58.70 percent over the last six months. The stock has performed -44.27 percent around the most recent 30 days and changed -61.34 percent over the most recent 3-months.
If compared to the average trading volume of 772.51K shares, NSTG reached to a volume of 12178951 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 NanoString Technologies Inc. [NSTG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NSTG shares is $27.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NSTG stock is a recommendation set at 1.70. 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.
Canaccord Genuity have made an estimate for NanoString Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 24, 2022. The new note on the price target was released on January 06, 2021, representing the official price target for NanoString Technologies Inc. stock. Previously, the target price had yet another raise to $43, while Morgan Stanley analysts kept a Equal-Weight rating on NSTG stock.
The Average True Range (ATR) for NanoString Technologies Inc. is set at 1.17, with the Price to Sales ratio for NSTG stock in the period of the last 12 months amounting to 1.98. The Price to Book ratio for the last quarter was 2.56, with the Price to Cash per share for the same quarter was set at 5.99.
NSTG stock trade performance evaluation
NanoString Technologies Inc. [NSTG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -41.87. With this latest performance, NSTG shares dropped by -44.27% in over the last four-week period, additionally sinking by -58.70% over the last 6 months – not to mention a drop of -87.68% 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 NSTG stock in for the last two-week period is set at 25.00, with the RSI for the last a single of trading hit 18.73, and the three-weeks RSI is set at 29.69 for NanoString Technologies Inc. [NSTG]. The present Moving Average for the last 50 days of trading for this stock 12.20, while it was recorded at 8.81 for the last single week of trading, and 19.66 for the last 200 days.
NanoString Technologies Inc. [NSTG]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and NanoString Technologies Inc. [NSTG] shares currently have an operating margin of -74.59 and a Gross Margin at +57.40. NanoString Technologies Inc.’s Net Margin is presently recorded at -79.44.
Return on Equity for this stock declined to -47.63, with Return on Assets sitting at -22.52.
NanoString Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.00 and a Current Ratio set at 6.80.
NanoString Technologies Inc. [NSTG]: Insider Ownership positions
There are presently around $313 million, in the hands of institutional investors. The top three institutional holders of NSTG stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 6,229,968, which is approximately 17.447% of the company’s market cap and around 0.80% of the total institutional ownership; FMR LLC, holding 6,155,643 shares of the stock with an approximate value of $38.29 million in NSTG stocks shares; and BLACKROCK INC., currently with $26.59 million in NSTG stock with ownership of nearly -1.072% of the company’s market capitalization.
Positions in NanoString Technologies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 91 institutional holders increased their position in NanoString Technologies Inc. [NASDAQ:NSTG] by around 11,947,351 shares. Additionally, 86 investors decreased positions by around 11,827,181 shares, while 24 investors held positions by with 26,517,559 shares. The mentioned changes placed institutional holdings at 50,292,091 shares, according to the latest SEC report filing. NSTG stock had 28 new institutional investments in for a total of 5,239,573 shares, while 35 institutional investors sold positions of 5,211,277 shares during the same period.