Quanterix Co. (NASDAQ:QTRX) Short Interest Update

Quanterix Co. (NASDAQ:QTRX) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 2,040,000 shares, a drop of 32.0% from the February 28th total of 3,000,000 shares. Approximately 6.2% of the shares of the stock are short sold. Based on an average daily volume of 780,100 shares, the short-interest ratio is currently 2.6 days.

Institutional Investors Weigh In On Quanterix

A number of institutional investors have recently bought and sold shares of QTRX. Ameriprise Financial Inc. raised its stake in Quanterix by 111.3% during the fourth quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company’s stock worth $34,079,000 after purchasing an additional 1,688,680 shares during the period. Portolan Capital Management LLC boosted its holdings in Quanterix by 2.7% in the fourth quarter. Portolan Capital Management LLC now owns 2,587,824 shares of the company’s stock valued at $27,509,000 after acquiring an additional 67,138 shares during the last quarter. Vanguard Group Inc. grew its position in Quanterix by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,217,225 shares of the company’s stock valued at $23,569,000 after acquiring an additional 19,386 shares during the period. Millennium Management LLC increased its stake in Quanterix by 6.0% during the fourth quarter. Millennium Management LLC now owns 2,185,101 shares of the company’s stock worth $23,228,000 after acquiring an additional 122,969 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Quanterix during the fourth quarter worth about $11,290,000. 86.48% of the stock is currently owned by hedge funds and other institutional investors.

Quanterix Price Performance

QTRX stock traded down $0.05 during midday trading on Monday, hitting $6.51. The stock had a trading volume of 485,465 shares, compared to its average volume of 514,668. The company’s 50-day moving average price is $7.99 and its 200 day moving average price is $10.63. The firm has a market cap of $252.43 million, a PE ratio of -6.14 and a beta of 1.33. Quanterix has a 12-month low of $6.14 and a 12-month high of $23.86.

Quanterix (NASDAQ:QTRX) last released its earnings results on Monday, March 17th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The business had revenue of $35.16 million during the quarter, compared to analyst estimates of $34.93 million. Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. As a group, sell-side analysts anticipate that Quanterix will post -0.98 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on QTRX. Canaccord Genuity Group reduced their target price on Quanterix from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Scotiabank restated an “outperform” rating on shares of Quanterix in a research report on Tuesday, March 25th.

About Quanterix

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.