Oxford Nanopore Technologies (LON:ONT) Shares Down 14.3% - Here's What Happened

Oxford Nanopore Technologies plc (LON:ONT) saw a significant decline of 14.3% during trading on Tuesday, with shares dropping to as low as GBX 89.30 ($1.14) before closing at GBX 90.10 ($1.15). Approximately 50,400,641 shares changed hands during the session, marking a 478% increase over the average trading volume of 8,719,918 shares. This decline follows a previous closing price of GBX 105.10 ($1.34).

Analysts Set New Price Targets

In a recent development, JPMorgan Chase & Co. reiterated an "overweight" rating for shares of Oxford Nanopore Technologies in a research report published on December 6th. A total of five equity research analysts currently hold buy ratings for the stock. According to data from MarketBeat, the stock sports an average buy rating with a mean price target of GBX 235.50 ($3.01).

Get Our Latest Stock Report on Oxford Nanopore Technologies

Oxford Nanopore Technologies Trading Up 0.4 %

The company's performance metrics show a 50-day moving average of GBX 132.03 and a 200-day moving average of GBX 138.42. Oxford Nanopore Technologies has a total market capitalization of £869.80 million, a price-to-earnings ratio of -4.93, and a beta of 0.80. The firm's debt-to-equity ratio stands at 8.07, with a quick ratio of 6.01 and a current ratio of 4.45.

Recently, Oxford Nanopore Technologies announced its earnings results on March 4th, where it reported GBX (16) (($0.20)) earnings per share for the most recent quarter. The company has been experiencing challenges, recording a negative return on equity of 26.02% along with a significant negative net margin of 94.82%.

Oxford Nanopore Technologies Company Profile

Oxford Nanopore Technologies aims to bring the widest benefits to society by enabling the analysis of anything, by anyone, anywhere.

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Should You Invest $1,000 in Oxford Nanopore Technologies Right Now?

Before making any investment decisions regarding Oxford Nanopore Technologies, it’s worth noting that while the stock currently has a Buy rating from analysts, other top-rated analysts have identified five alternative stocks as better investment opportunities.

As the demand for energy continues to increase with the growth of data centers and electric vehicles, it would be beneficial to explore how energy stocks can fit into your portfolio. Download our report to learn more.

Oxford, Nanopore, Technologies