Quanterix Co. (NASDAQ:QTRX) Experiences Notable Surge in Short Interest

Quanterix Co. (NASDAQ:QTRX) has seen a significant rise in short interest during February. As of February 15th, short interest reached a total of 2,770,000 shares, marking a 21.5% increase from the January 31st figure of 2,280,000 shares. Currently, 8.4% of the company's shares are being sold short. Given that the average trading volume stands at 633,300 shares, the short-interest ratio is at 4.4 days, indicating how long it would take to cover these short positions.

Institutional Trading Trends for Quanterix

Several hedge funds and institutional investors have recently engaged in buying and selling shares of Quanterix. Ameriprise Financial Inc. significantly boosted its stake in Quanterix by 111.3% during the last quarter of the previous year. They now hold 3,205,928 shares, valued at approximately $34,079,000, after acquiring an additional 1,688,680 shares. Similarly, William Blair Investment Management LLC entered a new position in Quanterix during the same period, valued at around $11,290,000.

Portolan Capital Management LLC also increased its holdings in Quanterix by 31.4% in the third quarter, bringing its total to 2,520,686 shares worth about $32,668,000 after the purchase of an extra 602,656 shares. Furthermore, Easterly Investment Partners LLC raised its position in Quanterix by 26.5%, now owning 876,133 shares valued at $11,355,000 following an acquisition of 183,387 shares during the third quarter. Lastly, Pier Capital LLC lifted its stake in the company by 32.8%, accumulating 679,680 shares worth $7,225,000 after buying an additional 167,882 shares. Overall, hedge funds and institutional investors hold approximately 86.48% of Quanterix’s stock.

Changes in Analyst Ratings

In a separate update, TD Cowen recently raised its price target for Quanterix from $13.50 to $16.00 and assigned a "hold" rating to the stock in a report released on November 13th.

Quanterix Stock Performance

On Thursday, Quanterix's stock experienced a dip of 2.2%, trading down $0.17 to reach $7.48 during midday. A total of 303,956 shares traded hands, which is lower than the average volume of 479,216. The company has a 52-week price range, with a low of $6.80 and a high of $29.70. Currently, Quanterix has a market capitalization of $288.16 million and exhibits a price-to-earnings (P/E) ratio of -7.06 alongside a beta of 1.33. The stock's 50-day and 200-day moving averages are $9.11 and $11.32, respectively.

Quanterix last released its quarterly earnings data on December 23rd, where it reported earnings of ($0.22) per share. The company had a negative net margin of 30.12% and a negative return on equity of 11.74%. Analysts forecast that Quanterix will post an EPS of -0.98 for the current fiscal year.

About Quanterix

Quanterix Corporation is a life sciences company that focuses on the development and marketing of digital immunoassay platforms aimed at enhancing precision health for research and diagnostics across various regions including North America, Europe, the Middle East, Africa, and the Asia-Pacific area. The company provides products such as the HD-X instrument, a protein detection platform, and the SR-X instrument, which allows researchers to apply Simoa detection across a broader range of applications.

Additional Insights

• Five stocks we like better than Quanterix
• Russell 2000 Index: How Investors Utilize it for Profitable Trading
• Occidental Petroleum Hits a 52-Week Low: Should You Buy, Sell, or Hold?
• Two Fintech Stocks to Consider Now and One to Stay Away From
• Super Micro Computer Achieves NASDAQ Compliance—Is it Worth the Investment?
• Understanding Stock Dividend Cuts: Are You Prepared?
• Taiwan Semiconductor’s $100 Billion Investment: The Future of Chipmakers

Quanterix, Short, Stocks