Short Interest in Quanterix Co. (NASDAQ:QTRX) Drops By 32.0%

Quanterix Co. (NASDAQ:QTRX) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 2,040,000 shares, a decrease of 32.0% from the February 28th total of 3,000,000 shares. Currently, 6.2% of the company’s stock are short sold. Based on an average daily trading volume, of 780,100 shares, the short-interest ratio is currently 2.6 days.

Quanterix Stock Down 0.8 %

QTRX stock opened at $6.51 on Tuesday. Quanterix has a 52-week low of $6.16 and a 52-week high of $23.86. The company’s 50-day simple moving average is $7.94 and its 200-day simple moving average is $10.59. The firm has a market cap of $252.43 million, a P/E ratio of -6.14 and a beta of 1.33.

Quanterix (NASDAQ:QTRX) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). The business had revenue of $35.16 million for the quarter, compared to analyst estimates of $34.93 million. Quanterix had a negative return on equity of 11.74% and a negative net margin of 30.12%. On average, analysts anticipate that Quanterix will post -0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanterix

A number of hedge funds have recently modified their holdings of the business. Resona Asset Management Co. Ltd. purchased a new position in Quanterix during the fourth quarter worth about $55,000. Tower Research Capital LLC TRC lifted its stake in Quanterix by 219.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company’s stock worth $61,000 after purchasing an additional 3,915 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Quanterix during the fourth quarter worth $66,000. Canada Pension Plan Investment Board grew its stake in shares of Quanterix by 64.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 10,200 shares of the company’s stock valued at $108,000 after buying an additional 4,000 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of Quanterix in the fourth quarter valued at $108,000. 86.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

QTRX has been the subject of several recent research reports. Scotiabank reissued an “outperform” rating on shares of Quanterix in a research report on Tuesday, March 25th. Canaccord Genuity Group cut their price target on shares of Quanterix from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th.

Quanterix Company Profile

Quanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers HD-X instrument, a protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection in an expanded range of applications.