Quotient Ltd (NASDAQ:QTNT) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 3,340,000 shares, a drop of 25.1% from the September 30th total of 4,460,000 shares. Based on an average daily volume of 358,700 shares, the days-to-cover ratio is presently 9.3 days. Currently, 5.8% of the company’s stock are short sold.
QTNT has been the topic of several recent research reports. BidaskClub raised shares of Quotient from a “strong sell” rating to a “sell” rating in a research report on Friday, October 18th. Zacks Investment Research lowered shares of Quotient from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, ValuEngine raised shares of Quotient from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th.
In related news, major shareholder Perceptive Advisors Llc purchased 2,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was acquired at an average cost of $7.00 per share, for a total transaction of $17,500,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Roland Boyd sold 21,100 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $10.95, for a total transaction of $231,045.00. Following the sale, the insider now owns 62,508 shares of the company’s stock, valued at $684,462.60. The disclosure for this sale can be found here. Company insiders own 14.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its position in Quotient by 846.3% during the third quarter. Tower Research Capital LLC TRC now owns 6,738 shares of the company’s stock valued at $52,000 after acquiring an additional 6,026 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Quotient in the second quarter valued at approximately $69,000. Cadence Capital Management LLC bought a new position in shares of Quotient in the third quarter valued at approximately $96,000. Northern Trust Corp bought a new position in shares of Quotient in the second quarter valued at approximately $122,000. Finally, Trexquant Investment LP bought a new position in shares of Quotient in the second quarter valued at approximately $123,000. 70.18% of the stock is currently owned by hedge funds and other institutional investors.
QTNT traded up $0.08 during midday trading on Friday, hitting $8.31. 131,900 shares of the company’s stock traded hands, compared to its average volume of 352,954. The company has a market cap of $540.12 million, a PE ratio of -4.33 and a beta of 0.99. The stock’s fifty day simple moving average is $7.90 and its 200-day simple moving average is $9.05. The company has a debt-to-equity ratio of 72.27, a current ratio of 3.97 and a quick ratio of 3.25. Quotient has a one year low of $5.73 and a one year high of $11.30.
Quotient (NASDAQ:QTNT) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.01). The company had revenue of $7.85 million for the quarter, compared to analysts’ expectations of $6.80 million. On average, research analysts expect that Quotient will post -1.58 EPS for the current year.
Quotient Company Profile
Quotient Limited, a commercial-stage diagnostics company, develops, manufactures, and commercializes conventional reagent products used for blood grouping in the transfusion diagnostics market worldwide. The company is developing MosaiQ, a proprietary technology platform, which provides tests for blood grouping and serological disease screening.
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