With over 15.45 million Nanostring Technologies Inc (NSTG) shares trading Monday and a closing price of $0.64 on the day, the dollar volume was approximately $9.89 million. The shares have shown a negative half year performance of -89.78% and its price on 11/20/23 lost nearly -50.00%. Currently, there are 46.72M common shares owned by the public and among those 44.26M 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: 7 analysts who have offered their price forecasts for NSTG have a consensus price objective of $5.99. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $1.40. The average price target is 89.32% above its recent price level and an upside to the estimated low will see the stock gain 54.29% over that period. But an upside of 95.73% will see the stock hit the forecast high price target while median target price for the stock is $5.00.
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Insiders at the company have transacted a total of 51 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 38 of these insider trades were purchases, accounting for 466,282 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 49,389 shares.
Shares of Nanostring Technologies Inc (NASDAQ: NSTG) opened at $0.781, down -$0.5 from a prior closing price of $1.28. However, the script later moved the day high at 0.8000, down -50.00%. The company’s stock has a 5-day price change of -41.28% and -76.56% over the past three months. NSTG shares are trading -91.97% year to date (YTD), with the 12-month market performance down to -90.36% lower. It has a 12-month low price of $1.02 and touched a high of $13.20 over the same period. NSTG has an average intraday trading volume of 1.52 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 -51.62%, -57.15%, and -88.27% respectively.
Institutional ownership of Nanostring Technologies Inc (NASDAQ: NSTG) shares accounts for 117.31% of the company’s 46.72M shares outstanding.
It has a market capitalization of $30.80M and a beta (3y monthly) value of 1.60. The earnings-per-share (ttm) stands at -$3.53. Price movements for the stock have been influenced by the stock’s volatility, which stands at 14.00% over the week and 12.84% over the month.
Analysts forecast that Nanostring Technologies Inc (NSTG) will achieve an EPS of -$0.53 for the current quarter, -$0.56 for the next quarter and -$1.76 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.61 while analysts give the company a high EPS estimate of -$0.42. Comparatively, EPS for the current quarter was -$0.95 a year ago. Earnings per share for the fiscal year are expected to increase by 9.66%, and 43.63% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Nanostring Technologies Inc (NSTG) as a “Strong Buy” at a consensus score of 1.71. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NSTG, a number of firms have released research notes about the stock. JP Morgan stated their Overweight rating for the stock in a research note on July 05, 2023, with the firm’s price target at $18.
