NanoString Technologies Inc. (NSTG) Sees Unusually-High Trading Volume
NanoString Technologies Inc. (NASDAQ:NSTG) saw strong trading volume on Thursday . 156,774 shares changed hands during trading, an increase of 38% from the previous session’s volume of 113,645 shares.The stock last traded at $16.60 and had previously closed at $16.16.
A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of NanoString Technologies from a “buy” rating to a “hold” rating in a report on Tuesday. BTIG Research restated a “buy” rating and set a $20.00 price objective on shares of NanoString Technologies in a report on Friday, August 5th. Morgan Stanley restated a “buy” rating on shares of NanoString Technologies in a report on Sunday, May 8th. Finally, Robert W. Baird restated a “buy” rating on shares of NanoString Technologies in a report on Sunday, May 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $18.50.
The firm has a 50-day moving average price of $13.89 and a 200 day moving average price of $14.36. The firm’s market capitalization is $326.68 million.
NanoString Technologies (NASDAQ:NSTG) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.55) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.11. The business had revenue of $22.60 million for the quarter, compared to the consensus estimate of $19.62 million. During the same quarter last year, the firm posted ($0.66) EPS. The business’s quarterly revenue was up 72.5% on a year-over-year basis. Equities research analysts expect that NanoString Technologies Inc. will post ($2.24) EPS for the current fiscal year.
An institutional investor recently raised its position in NanoString Technologies stock. Morgan Stanley boosted its position in NanoString Technologies Inc. (NASDAQ:NSTG) by 21.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,585,122 shares of the company’s stock after buying an additional 284,101 shares during the period. Morgan Stanley owned about 8.13% of NanoString Technologies worth $23,317,000 at the end of the most recent quarter.
NanoString Technologies, Inc develops and manufactures intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company operates in the segment of development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.
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