Fluidigm Corporation (FLDM) Sees Strong Trading Volume After Earnings Beat
Fluidigm Corporation (NASDAQ:FLDM) saw unusually-high trading volume on Friday following a better than expected earnings announcement. Approximately 1,171,253 shares were traded during trading, an increase of 537% from the previous session’s volume of 183,744 shares.The stock last traded at $3.15 and had previously closed at $3.11.
The medical research company reported ($0.58) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.60) by $0.02. Fluidigm Corporation had a negative return on equity of 94.93% and a negative net margin of 72.60%. The firm had revenue of $23.90 million for the quarter, compared to analysts’ expectations of $23.50 million. During the same period in the previous year, the firm earned ($0.63) earnings per share. The business’s revenue was down 15.2% compared to the same quarter last year.
FLDM has been the topic of several research analyst reports. ValuEngine cut Fluidigm Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Zacks Investment Research cut Fluidigm Corporation from a “hold” rating to a “sell” rating in a research note on Friday, May 12th.
In other news, Director Samuel D. Colella purchased 7,500 shares of Fluidigm Corporation stock in a transaction that occurred on Tuesday, May 9th. The shares were bought at an average cost of $5.93 per share, with a total value of $44,475.00. Following the completion of the purchase, the director now directly owns 43,523 shares in the company, valued at $258,091.39. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Evan/ Fa Jones sold 10,900 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $4.54, for a total value of $49,486.00. The disclosure for this sale can be found here. 4.70% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. American International Group Inc. boosted its stake in shares of Fluidigm Corporation by 7.1% in the first quarter. American International Group Inc. now owns 17,907 shares of the medical research company’s stock valued at $102,000 after buying an additional 1,187 shares during the last quarter. Levin Capital Strategies L.P. boosted its stake in shares of Fluidigm Corporation by 0.6% in the first quarter. Levin Capital Strategies L.P. now owns 5,789,282 shares of the medical research company’s stock valued at $32,941,000 after buying an additional 33,529 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Fluidigm Corporation by 20.5% in the first quarter. Bank of New York Mellon Corp now owns 206,578 shares of the medical research company’s stock valued at $1,175,000 after buying an additional 35,176 shares during the last quarter. Falcon Point Capital LLC boosted its stake in Fluidigm Corporation by 3.1% in the first quarter. Falcon Point Capital LLC now owns 40,661 shares of the medical research company’s stock worth $231,000 after buying an additional 1,238 shares in the last quarter. Finally, Stoneridge Investment Partners LLC boosted its stake in Fluidigm Corporation by 4.2% in the first quarter. Stoneridge Investment Partners LLC now owns 25,293 shares of the medical research company’s stock worth $144,000 after buying an additional 1,013 shares in the last quarter. 91.74% of the stock is currently owned by institutional investors.
The company’s market cap is $92.28 million. The company has a 50 day moving average price of $3.90 and a 200-day moving average price of $5.12.
About Fluidigm Corporation
Fluidigm Corporation creates, manufactures and markets technologies and life science tools focused on the exploration and analysis of single cells, as well as the industrial application of genomics, based upon the Company’s core microfluidics and mass cytometry technologies. The Company operates in the development, manufacturing and commercialization of life science tools for the life science and Ag-Bio industries segment.
Receive News & Ratings for Fluidigm Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fluidigm Corporation and related companies with MarketBeat.com's FREE daily email newsletter.