Fulgent Genetic (NASDAQ:FLGT) Posts Quarterly Earnings Results, Hits Expectations
Fulgent Genetic (NASDAQ:FLGT) posted its quarterly earnings results on Monday. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02, Bloomberg Earnings reports. The company had revenue of $4.64 million for the quarter, compared to the consensus estimate of $5.03 million. Fulgent Genetic had a negative return on equity of 0.02% and a negative net margin of 0.42%.
Fulgent Genetic (NASDAQ:FLGT) traded up 10.1967% during mid-day trading on Wednesday, hitting $5.9396. The company had a trading volume of 33,210 shares. The company has a 50 day moving average of $6.44 and a 200 day moving average of $9.15. Fulgent Genetic has a 1-year low of $4.49 and a 1-year high of $13.90. The firm’s market capitalization is $105.08 million.
In other Fulgent Genetic news, insider Ming Hsieh acquired 20,000 shares of Fulgent Genetic stock in a transaction that occurred on Thursday, June 15th. The stock was bought at an average price of $5.26 per share, with a total value of $105,200.00. Following the completion of the purchase, the insider now directly owns 6,482,244 shares of the company’s stock, valued at approximately $34,096,603.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several research firms recently weighed in on FLGT. Credit Suisse Group cut their price target on Fulgent Genetic from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday. Zacks Investment Research upgraded Fulgent Genetic from a “sell” rating to a “hold” rating in a research note on Monday, July 10th.
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Fulgent Genetic Company Profile
Fulgent Genetics, Inc is a technology company. The Company offers genetic testing to provide physicians with clinically actionable diagnostic information to improve quality of patient care. The Company has developed a technology platform that integrates data comparison and suppression algorithms, adaptive learning software, advanced genetic diagnostics tools and integrated laboratory processes.
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