58 institutions hold shares in PolarityTE Inc. (PTE), with 12.08M shares held by insiders accounting for 15.72% while institutional investors hold 17.64% of the company’s shares. The shares outstanding are 44.89M, and float is at 43.88M with Short Float at 9.03%. Institutions hold 14.87% of the Float.
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The top institutional shareholder in the company is Armistice Capital, LLC with over 1.69 million shares valued at $1.15 million. The investor’s holdings represent 2.10% of the PTE Shares outstanding. As of Dec 30, 2020, the second largest holder is Castle Hook Partners LP with 1.21 million shares valued at $0.82 million to account for 1.51% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 0.93 million shares representing 1.16% and valued at over $0.63 million, while FMR, LLC holds 0.87% of the shares totaling 0.7 million with a market value of $0.48 million.
PolarityTE Inc. (NASDAQ: PTE) is 42.00% higher on its value in year-to-date trading and has touched a low of $0.55 and a high of $2.38 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PTE stock was last observed hovering at around $1.05 in the last trading session, with the day’s loss setting it -0.08% off its average median price target of $3.00 for the next 12 months. It is also 67.67% off the consensus price target high of $3.00 offered by 3 analysts, but current levels are 67.67% higher than the price target low of $3.00 for the same period.
Currently trading at $0.97, the stock is -21.46% and -25.03% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.69 million and changing -8.04% at the moment leaves the stock -15.13% off its SMA200. PTE registered 1.64% gain for a year compared to 6-month gain of -7.15%. The firm has a 50-day simple moving average (SMA 50) of $1.3297 and a 200-day simple moving average (SMA200) of $1.0379.
The stock witnessed a -24.56% loss in the last 1 month and extending the period to 3 months gives it a 24.64%, and is -20.20% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.77% over the week and 9.75% over the month.
PolarityTE Inc. (PTE) has around 80 employees, a market worth around $66.81M and $10.10M in sales. Distance from 52-week low is 74.61% and -59.43% from its 52-week high. The company has generated returns on investments over the last 12 months (-143.10%).
PolarityTE Inc. (PTE) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for PolarityTE Inc. (PTE) is a “Overweight”. 3 analysts offering their recommendations for the stock have an average rating of 2.30, where 1 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
PolarityTE Inc. is expected to release its quarterly report on 08/12/2021 and quarterly earnings per share for the current quarter are estimated at -$0.13 with sales reaching $3.7M over the same period.The EPS is expected to grow by 70.20% this year, but quarterly earnings will post -4.90% year-over-year. Quarterly sales are estimated to grow 262.70% in year-over-year returns.
PolarityTE Inc. (PTE) Insider Activity
A total of 33 insider transactions have happened at PolarityTE Inc. (PTE) in the last six months, with sales accounting for 22 and purchases happening 11 times. The most recent transaction is an insider sale by Seaburg David B, the company’s Chief Executive Officer. SEC filings show that Seaburg David B sold 31,037 shares of the company’s common stock on Jan 19 at a price of $1.09 per share for a total of $33986.0. Following the sale, the insider now owns 0.88 million shares.
PolarityTE Inc. disclosed in a document filed with the SEC on Dec 30 that Seaburg David B (Chief Executive Officer) sold a total of 8,515 shares of the company’s common stock. The trade occurred on Dec 30 and was made at $0.67 per share for $5714.0. Following the transaction, the insider now directly holds 0.91 million shares of the PTE stock.
Still, SEC filings show that on Oct 19, Seaburg David B (Chief Executive Officer) disposed off 31,032 shares at an average price of $1.02 for $31560.0. The insider now directly holds 919,792 shares of PolarityTE Inc. (PTE).
PolarityTE Inc. (PTE): Who are the competitors?
The company’s main competitors (and peers) include Activision Blizzard Inc. (ATVI) that is trading 57.21% up over the past 12 months and Glu Mobile Inc. (GLUU) that is 107.14% higher over the same period. Take-Two Interactive Software Inc. (TTWO) is 51.41% up on the 1-year trading charts. Short interest in the company’s stock has fallen -0.25% from the last report on Mar 14, 2021 to stand at a total of 3.96 million short shares sold with a short interest ratio of 0.78.