Femasys (NASDAQ:FEMY) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Femasys (NASDAQ:FEMY) posted its quarterly earnings results on Friday. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.07, reports. Femasys had a negative net margin of 812.74% and a negative return on equity of 534.94%. The business had revenue of $0.42 million during the quarter, compared to analysts’ expectations of $0.77 million.

Femasys Trading Down 4.3%

Shares of Femasys stock traded down $0.02 during mid-day trading on Friday, hitting $0.43. The stock had a trading volume of 524,290 shares, compared to its average volume of 412,557. The firm has a 50-day moving average of $0.47 and a two-hundred day moving average of $0.62. The company has a quick ratio of 2.95, a current ratio of 4.53 and a debt-to-equity ratio of 0.89. Femasys has a 12-month low of $0.31 and a 12-month high of $1.14. The firm has a market cap of $25.96 million, a P/E ratio of -0.86 and a beta of -2.26.

Hedge Funds Weigh In On Femasys

Several large investors have recently made changes to their positions in FEMY. Kovack Advisors Inc. acquired a new position in shares of Femasys in the 4th quarter worth approximately $27,000. HRT Financial LP acquired a new position in shares of Femasys in the 4th quarter worth approximately $30,000. Cetera Investment Advisers acquired a new position in shares of Femasys in the 4th quarter worth approximately $36,000. Osaic Holdings Inc. acquired a new position in shares of Femasys in the 2nd quarter worth approximately $45,000. Finally, State Street Corp lifted its holdings in shares of Femasys by 43.5% in the 4th quarter. State Street Corp now owns 80,869 shares of the company’s stock worth $47,000 after acquiring an additional 24,500 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Lake Street Capital assumed coverage on shares of Femasys in a research note on Tuesday, March 3rd. They issued a “buy” rating and a $1.50 price target for the company. Weiss Ratings raised shares of Femasys from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. Finally, Wall Street Zen cut shares of Femasys from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Femasys currently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

About Femasys

Femasys International, Inc is a medical device company focused on the research, development and commercialization of innovative technologies for interventional women’s health applications. The company’s core activities center on creating minimally invasive diagnostic and therapeutic products designed to address uterine cavity evaluation and treatment and to improve outcomes in gynecological care.

The company’s flagship product, the FemVue® hydrosonography system, is a single-use catheter-based device that enhances visualization of the uterine cavity through saline infusion sonography.