PolarityTE, Inc. (NASDAQ:PTE) Expected to Post Quarterly Sales of $850,000.00

Brokerages expect PolarityTE, Inc. (NASDAQ:PTEGet Rating) to report sales of $850,000.00 for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for PolarityTE’s earnings. The highest sales estimate is $900,000.00 and the lowest is $800,000.00. PolarityTE posted sales of $4.71 million during the same quarter last year, which suggests a negative year over year growth rate of 82%. The company is scheduled to report its next quarterly earnings results before the market opens on Monday, January 1st.

On average, analysts expect that PolarityTE will report full-year sales of $3.20 million for the current fiscal year, with estimates ranging from $2.80 million to $3.60 million. For the next fiscal year, analysts anticipate that the firm will post sales of $3.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow PolarityTE.

PolarityTE (NASDAQ:PTEGet Rating) last released its earnings results on Wednesday, March 30th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). PolarityTE had a negative return on equity of 116.16% and a negative net margin of 321.00%. The firm had revenue of $1.04 million during the quarter, compared to analyst estimates of $0.94 million. During the same quarter last year, the business posted ($0.21) EPS.

Several analysts recently commented on the stock. Zacks Investment Research cut shares of PolarityTE from a “buy” rating to a “hold” rating in a research note on Thursday, January 13th. Cantor Fitzgerald cut shares of PolarityTE from an “overweight” rating to a “neutral” rating in a research note on Wednesday, March 30th.

PTE stock opened at $0.13 on Thursday. PolarityTE has a one year low of $0.13 and a one year high of $1.26. The company has a fifty day moving average of $0.26 and a 200-day moving average of $0.43. The stock has a market capitalization of $11.46 million, a PE ratio of -0.32 and a beta of 1.13.

Institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. acquired a new position in PolarityTE during the first quarter worth about $73,000. Marshall Wace LLP purchased a new stake in shares of PolarityTE during the first quarter worth about $126,000. First Republic Investment Management Inc. grew its holdings in shares of PolarityTE by 79.1% during the third quarter. First Republic Investment Management Inc. now owns 56,600 shares of the company’s stock worth $37,000 after buying an additional 25,000 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of PolarityTE during the fourth quarter worth about $35,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of PolarityTE by 188.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 76,867 shares of the company’s stock worth $45,000 after buying an additional 50,236 shares in the last quarter. Institutional investors own 11.14% of the company’s stock.

About PolarityTE (Get Rating)

PolarityTE, Inc, a clinical stage biotechnology company, develops and commercializes a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences in the United States. The company operates in two segments, Regenerative Medicine Products and Contract Services.

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