Quanterix Co. (NASDAQ:QTRX) Sees Large Decline in Short Interest

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Resona Asset Management Co. Ltd. bought a new position in shares of Quanterix in the 4th quarter worth approximately $55,000. Tower Research Capital LLC TRC boosted its stake in shares of Quanterix by 219.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company’s stock worth $61,000 after acquiring an additional 3,915 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Quanterix during the 4th quarter valued at $66,000. Canada Pension Plan Investment Board increased its stake in shares of Quanterix by 64.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 10,200 shares of the company’s stock worth $108,000 after purchasing an additional 4,000 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in Quanterix in the 4th quarter worth $108,000. 86.48% of the stock is owned by hedge funds and other institutional investors.

Quanterix Price Performance

Shares of Quanterix stock traded down $0.21 during trading on Friday, hitting $6.56. 515,291 shares of the company’s stock traded hands, compared to its average volume of 514,785. Quanterix has a 1 year low of $6.30 and a 1 year high of $23.86. The business has a 50-day simple moving average of $7.99 and a 200-day simple moving average of $10.64. The stock has a market capitalization of $254.37 million, a P/E ratio of -6.19 and a beta of 1.33.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Canaccord Genuity Group reduced their price objective on Quanterix from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Scotiabank reissued an “outperform” rating on shares of Quanterix in a research report on Tuesday.

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.