Cytosorbents (NASDAQ:CTSO) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Shares of Cytosorbents Corporation (NASDAQ:CTSO - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.03 and traded as high as $1.04. Cytosorbents shares last traded at $1.03, with a volume of 40,411 shares changing hands.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wall Street Zen assumed coverage on Cytosorbents in a research report on Wednesday, May 21st. They set a "hold" rating on the stock. HC Wainwright reaffirmed a "neutral" rating and set a $1.00 price objective on shares of Cytosorbents in a report on Thursday, May 15th. Finally, D. Boral Capital reiterated a "buy" rating and issued a $10.00 target price on shares of Cytosorbents in a research note on Wednesday, June 25th.

Cytosorbents Price Performance

The stock has a market cap of $64.49 million, a PE ratio of -3.68 and a beta of 1.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.30 and a current ratio of 2.61. The business has a 50 day moving average price of $1.03 and a two-hundred day moving average price of $1.03.

Cytosorbents (NASDAQ:CTSO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The medical research company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $8.73 million for the quarter, compared to analysts' expectations of $9.01 million. Cytosorbents had a negative return on equity of 105.04% and a negative net margin of 41.77%. Research analysts expect that Cytosorbents Corporation will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cytosorbents

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Cytosorbents in the fourth quarter worth about $99,000. Renaissance Technologies LLC increased its stake in shares of Cytosorbents by 10.6% during the 4th quarter. Renaissance Technologies LLC now owns 88,020 shares of the medical research company's stock worth $80,000 after purchasing an additional 8,400 shares during the last quarter. Avenir Corp raised its holdings in shares of Cytosorbents by 4.0% in the 4th quarter. Avenir Corp now owns 3,093,946 shares of the medical research company's stock worth $2,815,000 after purchasing an additional 118,387 shares during the period. Northern Trust Corp lifted its stake in Cytosorbents by 22.3% in the fourth quarter. Northern Trust Corp now owns 91,560 shares of the medical research company's stock valued at $83,000 after purchasing an additional 16,701 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in Cytosorbents in the fourth quarter valued at approximately $30,000. 32.87% of the stock is owned by hedge funds and other institutional investors.

About Cytosorbents

Cytosorbents Corporation engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology in the United States, Germany, and internationally. Its flagship product is CytoSorb, an extracorporeal cytokine adsorber for adjunctive therapy in the treatment of sepsis, adjunctive therapy in other critical care applications, prevention, and treatment of perioperative complications, and maintaining or enhancing the quality of solid organs harvested from donors for organ transplant; and offers VetResQ, a device for adjunctive therapy in the treatment of sepsis, pancreatitis, and other critical illnesses in animals.