Oxford Nanopore Technologies (LON:ONT) Shares Down 12.8% - Here's What Happened

Key Points

• Oxford Nanopore Technologies (LON:ONT) saw a significant drop in share price, falling by 12.8% to GBX 161.60 ($2.16) during Tuesday trading.
• Despite the recent decline, multiple analysts have issued buy ratings, with target prices ranging from GBX 240 to GBX 250, indicating strong ongoing support for the stock.
• The company has reported a negative net margin of 94.82% and a high debt-to-equity ratio of 8.07, raising concerns about its financial health.

Oxford Nanopore Technologies plc (LON:ONT - Get Free Report) dropped 12.8% during trading on Tuesday . The company traded as low as GBX 159.96 ($2.14) and last traded at GBX 161.60 ($2.16). Approximately 3,482,561 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 5,776,637 shares. The stock had previously closed at GBX 185.30 ($2.48).

Analyst Upgrades and Downgrades

ONT has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a GBX 250 target price on shares of Oxford Nanopore Technologies in a research report on Friday. Berenberg Bank reissued a "buy" rating and issued a GBX 250 price objective on shares of Oxford Nanopore Technologies in a report on Tuesday. Finally, Citigroup upped their price objective on shares of Oxford Nanopore Technologies from GBX 180 to GBX 240 and gave the company a "buy" rating in a report on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Oxford Nanopore Technologies presently has an average rating of "Buy" and a consensus price target of GBX 232.50.

Oxford Nanopore Technologies Trading Down 12.8%

The business's 50-day simple moving average is GBX 181.20 and its two-hundred day simple moving average is GBX 138.65. The firm has a market capitalization of £1.55 billion, a price-to-earnings ratio of -1,010.00 and a beta of 0.80. The company has a quick ratio of 6.01, a current ratio of 4.45 and a debt-to-equity ratio of 8.07.

Oxford Nanopore Technologies (LON:ONT - Get Free Report) last posted its earnings results on Tuesday, September 2nd. The company reported GBX (7.50) earnings per share for the quarter. Oxford Nanopore Technologies had a negative net margin of 94.82% and a negative return on equity of 26.02%.

About Oxford Nanopore Technologies

Our goal is to bring the widest benefits to society through enabling the analysis of anything, by anyone, anywhere.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.