ChronoScale Corporation Common Stock (NASDAQ:CHRN) Stock Falls 6.2% - Here's What Happened

Key Points

• CHRN shares fell 6.2% to $20.50 during Friday trading, with volume down 55% from its average.
• Analyst sentiment remains mixed: Northland Securities initiated coverage with an “outperform” rating and a $32 target, while the broader consensus is “Hold” with a $19 target.
• The company reported a quarterly loss of $0.12 per share on $18.4 million in revenue, alongside deeply negative net margins and return on equity.

ChronoScale Corporation Common Stock (NASDAQ:CHRN - Get Free Report)'s stock price fell 6.2% during trading on Friday. The company traded as low as $20.32 and last traded at $20.50. Approximately 105,331 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 233,782 shares. The stock had previously closed at $21.85.

Analysts Set New Price Targets

Several brokerages have recently commented on CHRN. Northland Securities started coverage on ChronoScale Corporation Common Stock in a research note on Friday, September 18th. They issued an "outperform" rating and a $32.00 target price for the company. Weiss Ratings raised ChronoScale Corporation Common Stock from a "sell (d-)" rating to a "sell (d)" rating in a research note on Monday, August 24th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ChronoScale Corporation Common Stock currently has an average rating of "Hold" and a consensus price target of $19.00.

ChronoScale Corporation Common Stock Stock Performance

The company's 50-day simple moving average is $21.22 and its 200 day simple moving average is $17.41. The stock has a market cap of $2.98 billion, a P/E ratio of -3.80 and a beta of 0.98. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.06.

ChronoScale Corporation Common Stock (NASDAQ:CHRN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 19th. The company reported ($0.12) earnings per share (EPS) for the quarter. ChronoScale Corporation Common Stock had a negative return on equity of 197.81% and a negative net margin of 135.66%.The company had revenue of $18.40 million for the quarter. As a group, sell-side analysts expect that ChronoScale Corporation Common Stock will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On ChronoScale Corporation Common Stock

A hedge fund recently raised its stake in ChronoScale Corporation Common Stock stock. Roble Belko & Company Inc increased its position in shares of ChronoScale Corporation Common Stock (NASDAQ:CHRN - Free Report) by 104.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,338 shares of the company's stock after acquiring an additional 1,195 shares during the period. Roble Belko & Company Inc owned approximately 0.07% of ChronoScale Corporation Common Stock worth $25,000 as of its most recent filing with the Securities and Exchange Commission. 6.42% of the stock is currently owned by hedge funds and other institutional investors.

ChronoScale Corporation Common Stock Company Profile

Ekso Bionics Holdings, Inc designs, develops, sells, and rents exoskeleton products in the Americas, Germany, Poland, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates in two segments, EksoHealth and EksoWorks. The EksoHealth segment designs, engineers, manufactures, and markets exoskeletons for applications in the medical markets. The EksoWorks segment designs, engineers, manufactures, and markets exoskeleton devices to allow able-bodied users to perform difficult repetitive work for extended periods.

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