Short Interest in Quanterix Co. (NASDAQ:QTRX) Rises By 25.5%

Quanterix Co. (NASDAQ:QTRX - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 2,560,000 shares, an increase of 25.5% from the March 15th total of 2,040,000 shares. Based on an average daily volume of 846,400 shares, the short-interest ratio is presently 3.0 days. Currently, 7.7% of the company's stock are sold short.

Quanterix Stock Up 2.5 %

NASDAQ QTRX traded up $0.14 on Friday, reaching $5.74. The company had a trading volume of 218,701 shares, compared to its average volume of 542,937. The stock has a market capitalization of $222.65 million, a P/E ratio of -5.40 and a beta of 1.35. The company's fifty day moving average is $6.58 and its 200 day moving average is $9.59. Quanterix has a 52-week low of $4.67 and a 52-week high of $19.18.

Quanterix (NASDAQ:QTRX - Get Free Report) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.03). Quanterix had a negative net margin of 30.12% and a negative return on equity of 11.74%. The firm had revenue of $35.16 million for the quarter, compared to the consensus estimate of $34.93 million. On average, research analysts expect that Quanterix will post -0.98 EPS for the current year.

Institutional Trading of Quanterix

A number of institutional investors and hedge funds have recently modified their holdings of QTRX. Ameriprise Financial Inc. grew its stake in Quanterix by 111.3% in the 4th quarter. Ameriprise Financial Inc. now owns 3,205,928 shares of the company's stock valued at $34,079,000 after purchasing an additional 1,688,680 shares during the period. Portolan Capital Management LLC grew its position in Quanterix by 2.7% during the fourth quarter. Portolan Capital Management LLC now owns 2,587,824 shares of the company's stock valued at $27,509,000 after buying an additional 67,138 shares during the period. Vanguard Group Inc. grew its position in Quanterix by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,217,225 shares of the company's stock valued at $23,569,000 after buying an additional 19,386 shares during the period. Millennium Management LLC increased its holdings in Quanterix by 6.0% during the fourth quarter. Millennium Management LLC now owns 2,185,101 shares of the company's stock worth $23,228,000 after buying an additional 122,969 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new stake in Quanterix in the fourth quarter worth about $11,290,000. 86.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QTRX has been the topic of several research reports. Canaccord Genuity Group lowered their price objective on shares of Quanterix from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Scotiabank restated an "outperform" rating on shares of Quanterix in a report on Tuesday, March 25th.

Quanterix Company Profile

Quanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers HD-X instrument, a protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection in an expanded range of applications.