TearLab Corp. (TEAR) Stock Rating Reaffirmed by Rodman & Renshaw
Rodman & Renshaw restated their buy rating on shares of TearLab Corp. (NASDAQ:TEAR) in a research report sent to investors on Saturday. Rodman & Renshaw currently has a $2.00 target price on the stock.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of TearLab Corp. from a sell rating to a hold rating in a report on Thursday, September 22nd. Roth Capital cut shares of TearLab Corp. from a buy rating to a neutral rating in a report on Thursday, August 4th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $2.60.
Shares of TearLab Corp. (NASDAQ:TEAR) traded up 0.5645% on Friday, hitting $0.6235. 18,936 shares of the company traded hands. The stock’s 50-day moving average price is $0.69 and its 200-day moving average price is $0.73. TearLab Corp. has a 12 month low of $0.58 and a 12 month high of $2.11. The company’s market capitalization is $32.98 million.
TearLab Corp. (NASDAQ:TEAR) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). The business earned $6.90 million during the quarter, compared to analyst estimates of $6.95 million. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.24) EPS. On average, equities analysts predict that TearLab Corp. will post ($0.44) earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. AWM Investment Company Inc. bought a new position in shares of TearLab Corp. during the second quarter valued at about $3,377,000. Sabby Management LLC bought a new position in shares of TearLab Corp. during the second quarter valued at about $1,205,000. Perkins Capital Management Inc. boosted its position in shares of TearLab Corp. by 38.0% in the second quarter. Perkins Capital Management Inc. now owns 1,755,242 shares of the company’s stock valued at $1,123,000 after buying an additional 483,500 shares during the last quarter. First Light Asset Management LLC boosted its position in shares of TearLab Corp. by 0.4% in the second quarter. First Light Asset Management LLC now owns 3,760,430 shares of the company’s stock valued at $2,407,000 after buying an additional 14,267 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of TearLab Corp. by 0.4% in the second quarter. Vanguard Group Inc. now owns 825,984 shares of the company’s stock valued at $528,000 after buying an additional 3,100 shares during the last quarter. Institutional investors and hedge funds own 38.50% of the company’s stock.
About TearLab Corp.
TearLab Corporation is an in-vitro diagnostic company. The Company has commercialized a tear testing platform, the TearLab Osmolarity System, which enables eye care practitioners to test for sensitive and specific biomarkers using nanoliters of tear film at the point-of-care. The Company, through its subsidiary TearLab Research, Inc, develops technologies to enable eye care practitioners to test a range of biomarkers (chemistries, metabolites, genes and proteins) at the point-of-care.
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