Indaba Capital Management LP recently announced the acquisition of new stake in Fluidigm Corporation (NASDAQ:FLDM). The institutional investor has increased its shareholding in the Healthcare company by 3.76% to 3.96 million shares with purchase of 0.14 million shares. This fresh investment now brings its stake to 5.61% valued currently at $27.9 million. In addition, Renaissance Technologies LLC raised its holdings by 0.18 million to 3.37 million shares.
With over 4.73 million Fluidigm Corporation (FLDM) shares trading Monday and a closing price of $7.85 on the day, the dollar volume was approximately $37.13 million. The shares have shown a negative weekly performance of -7.10% and its price on 08/31/20 lost nearly -7.10%. Currently, there are 70.92M common shares owned by the public and among those 70.29M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for FLDM have a consensus price objective of $14.00. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $12.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Fluidigm Corporation stock is 1.70 for the next 12 months. The average price target is 43.93% above its last price level and an upside to the estimated low will see the stock gain 34.58% over that period. But an upside of 50.94% will see the stock hit the forecast high price target while mean target price for the stock is $14.00.
Insiders at the company have transacted a total of 78 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 55 of these insider trades were purchases, accounting for 408,797 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 1,371,530 shares.
The top 3 mutual fund holders in Fluidigm Corporation are PRIMECAP Odyssey Aggressive Growt, Vanguard Total Stock Market Index, and Vanguard Investment Series Plc -. PRIMECAP Odyssey Aggressive Growt owns 4.47 million shares of the company’s stock, all valued at over $31.43 million. The company sold 21500.0 shares recently to bring their total holdings to about 6.32% of the shares outstanding. Vanguard Investment Series Plc – sold -0.12 million shares to bring its total holdings to over 1.71 million shares at a value of $12.01 million. Vanguard Investment Series Plc – now owns shares totaling to 2.41% of the shares outstanding.
Shares of Fluidigm Corporation (NASDAQ: FLDM) opened at $8.29, down -$0.16 from a prior closing price of $8.45. However, the script later closed the day at $7.85, down -7.10%. The company’s stock has a 5-day price change of -7.10% and 80.88% over the past three months. FLDM shares are trading 125.57% year to date (YTD), with the 12-month market performance up to 40.68% higher. It has a 12-month low price of $1.17 and touched a high of $12.45 over the same period. Currently, 4.73 million shares have been traded, compared to an average intraday trading volume of 6.15 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.06%, 24.70%, and 96.02% respectively.
Institutional ownership of Fluidigm Corporation (NASDAQ: FLDM) shares accounts for 89.00% of the company’s 70.92M shares outstanding. Mutual fund holders own 32.76%, while other institutional holders and individual stakeholders account for 56.12% and 13.75% respectively.
It has a market capitalization of $556.56M and a beta (3y monthly) value of 2.20. The earnings-per-share (ttm) stands at -$0.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 17.23% over the week and 11.59% over the month.
Analysts forecast that Fluidigm Corporation (FLDM) will achieve an EPS of -$0.19 for the current quarter, -$0.11 for the next quarter and -$0.67 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.27 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.19 a year ago. Earnings per share for the fiscal year are expected to increase by 34.80%, and 6.90% over the next financial year. EPS should shrink at an annualized rate of -8.06% over the next five years, compared to 12.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Fluidigm Corporation (FLDM) as a “Strong Buy” at a consensus score of 1.70. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the FLDM, a number of firms have released research notes about the stock. Janney stated their Neutral rating for the stock in a research note on November 06, 2019, with the firm’s price target at. UBS coverage for the Fluidigm Corporation (FLDM) stock in a research note released on October 18, 2019 offered a Buy rating with a price target of $7. UBS was of a view on March 15, 2019 that the stock is Neutral, while Janney gave the stock Buy rating on January 03, 2019, issuing a price target of. Piper Jaffray on their part issued Overweight rating on November 02, 2018.