Cytosorbents (NASDAQ:CTSO) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Cytosorbents Co. (NASDAQ:CTSO - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.99 and traded as high as $1.10. Cytosorbents shares last traded at $1.07, with a volume of 23,276 shares traded.

Wall Street Analysts Forecast Growth

CTSO has been the subject of several research analyst reports. D. Boral Capital restated a "buy" rating and issued a $10.00 price target on shares of Cytosorbents in a research report on Thursday, May 15th. HC Wainwright reissued a "neutral" rating and set a $1.00 target price on shares of Cytosorbents in a research note on Thursday, May 15th. Finally, Wall Street Zen started coverage on Cytosorbents in a report on Wednesday, May 21st. They issued a "hold" rating for the company.

Cytosorbents Stock Up 1.9%

The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $68.24 million, a PE ratio of -3.03 and a beta of 1.05. The business's 50-day moving average price is $0.96 and its 200-day moving average price is $0.99.

Cytosorbents (NASDAQ:CTSO - Get Free Report) last released its earnings results on Wednesday, May 14th. The medical research company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. Cytosorbents had a negative net margin of 49.47% and a negative return on equity of 118.54%. The company had revenue of $8.73 million during the quarter, compared to the consensus estimate of $9.01 million. As a group, equities research analysts predict that Cytosorbents Co. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings 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 valued at $80,000 after buying an additional 8,400 shares during the last quarter. Northern Trust Corp raised its position in Cytosorbents by 22.3% during the fourth quarter. Northern Trust Corp now owns 91,560 shares of the medical research company's stock valued at $83,000 after acquiring an additional 16,701 shares in the last quarter. Skylands Capital LLC lifted its stake in Cytosorbents by 1.0% in the fourth quarter. Skylands Capital LLC now owns 2,781,622 shares of the medical research company's stock valued at $2,531,000 after acquiring an additional 26,195 shares during the last quarter. Millennium Management LLC bought a new stake in Cytosorbents during the fourth quarter worth approximately $30,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Cytosorbents by 149.2% in the first quarter. Goldman Sachs Group Inc. now owns 62,662 shares of the medical research company's stock valued at $63,000 after acquiring an additional 37,519 shares during the period. Hedge funds and other institutional investors own 32.87% of the company's stock.

Cytosorbents Company Profile

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.