Zacks: Analysts Anticipate Polarityte Inc (PTE) Will Post Quarterly Sales of $1.40 Million
Wall Street brokerages expect Polarityte Inc (NASDAQ:PTE) to report sales of $1.40 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Polarityte’s earnings, with the lowest sales estimate coming in at $1.00 million and the highest estimate coming in at $1.80 million. Polarityte posted sales of $10,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 13,900%. The firm is expected to issue its next earnings results on Monday, April 15th.
According to Zacks, analysts expect that Polarityte will report full-year sales of $15.34 million for the current fiscal year, with estimates ranging from $8.40 million to $20.00 million. For the next year, analysts forecast that the business will post sales of $44.57 million, with estimates ranging from $30.20 million to $55.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Polarityte.
Polarityte (NASDAQ:PTE) last released its quarterly earnings data on Monday, January 14th. The company reported ($0.96) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.02) by $0.06. Polarityte had a negative net margin of 4,259.44% and a negative return on equity of 258.52%. The firm had revenue of $1.13 million during the quarter, compared to analysts’ expectations of $0.80 million.
PTE stock traded down $0.20 during midday trading on Wednesday, reaching $8.61. 424,600 shares of the company were exchanged, compared to its average volume of 345,313. The company has a debt-to-equity ratio of 0.01, a current ratio of 13.80 and a quick ratio of 13.76. Polarityte has a one year low of $8.46 and a one year high of $41.22. The stock has a market cap of $190.74 million, a price-to-earnings ratio of -1.77 and a beta of 1.48.
An institutional investor recently bought a new position in Polarityte stock. Comprehensive Portfolio Management LLC bought a new stake in Polarityte Inc (NASDAQ:PTE) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,702 shares of the company’s stock, valued at approximately $232,000. Comprehensive Portfolio Management LLC owned 0.10% of Polarityte as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 54.85% of the company’s stock.
Polarityte Company Profile
PolarityTE, Inc, a biotechnology and regenerative biomaterials company, focuses on discovering, designing, and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences in the United States. The company operates in two segments, Regenerative Medicine and Contract Services.
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