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Sunday, October 25, 2020

The Forecast Just Changed on NanoString Technologies Inc. (NASDAQ:NSTG)

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NanoString Technologies Inc. (NSTG) shares are trading at lower $41.96 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $40.00.

To add more color to this target, the company’s high over the last year is $46.93 and the low is $13.85. Over the last 52 weeks, NSTG is up 106.29% while the S&P 500 is up 18.10%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, NSTG reported a profit of $11.89 million. NanoString Technologies Inc. also saw revenues increase to $22.6 million. In addition, NSTG has free cash flow of -$55.5 million as of 06-2020. The company’s EBITDA came in at -$19.53 million which compares well with its peers.

NSTG booked profit margins of -55.30%, its Return on Equity (ROE) is -60.50%, and its Return on Assets is -21.70%. All told, it is clear that, NSTG needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. NSTG has a short ratio of 8.58 and outstanding shares of 37.79M.

Company Outlook

NSTG has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -1.74. NanoString Technologies Inc. NSTG also noted assets of $346.5 million at the end of the last quarter. Investors should also keep an eye on sector updates as NSTG has historically followed its peers on positive news.

All told, NanoString Technologies Inc. NSTG has strung together solid data and demonstrated underlying fundamentals. At its current valuation, NSTG represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

NanoString Technologies Inc. NSTG is now commanding a market cap of 1.63B and a float of 37.69M. NSTG is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of NSTG stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in NSTG, either long or short, and we have not been compensated for this article.

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