StockNews.com Initiates Coverage on Cytosorbents (NASDAQ:CTSO)

StockNews.com assumed coverage on shares of Cytosorbents (NASDAQ:CTSO - Free Report) in a report published on Sunday. The firm issued a hold rating on the medical research company's stock.

Several other equities research analysts also recently commented on the company. HC Wainwright reissued a "neutral" rating and issued a $1.00 target price on shares of Cytosorbents in a report on Wednesday, August 14th. EF Hutton Acquisition Co. I raised shares of Cytosorbents to a "strong-buy" rating in a report on Monday, July 29th.

Cytosorbents Stock Down 18.1 %

CTSO traded down $0.16 during trading on Friday, reaching $0.74. The stock had a trading volume of 515,640 shares, compared to its average volume of 106,836. Cytosorbents has a one year low of $0.70 and a one year high of $2.15. The company has a market capitalization of $40.28 million, a price-to-earnings ratio of -1.40 and a beta of 0.56. The company has a current ratio of 2.12, a quick ratio of 1.71 and a debt-to-equity ratio of 0.82. The stock's 50 day moving average is $1.13 and its two-hundred day moving average is $1.01.

Cytosorbents (NASDAQ:CTSO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. Cytosorbents had a negative net margin of 68.70% and a negative return on equity of 131.84%. The company had revenue of $9.89 million during the quarter, compared to analysts' expectations of $9.73 million. During the same period last year, the company posted ($0.14) EPS. As a group, analysts expect that Cytosorbents will post -0.31 earnings per share for the current year.

Institutional Trading of Cytosorbents

Large investors have recently made changes to their positions in the stock. Sargent Investment Group LLC increased its position in Cytosorbents by 13.4% during the third quarter. Sargent Investment Group LLC now owns 1,626,247 shares of the medical research company's stock valued at $2,439,000 after acquiring an additional 192,747 shares during the last quarter. Atomi Financial Group Inc. purchased a new stake in Cytosorbents during the third quarter valued at approximately $51,000. CM Management LLC raised its position in Cytosorbents by 3.0% in the second quarter. CM Management LLC now owns 850,000 shares of the medical research company's stock worth $598,000 after acquiring an additional 25,000 shares during the period. Finally, Avenir Corp increased its stake in shares of Cytosorbents by 4.0% in the 1st quarter. Avenir Corp now owns 3,172,696 shares of the medical research company's stock worth $3,014,000 after purchasing an additional 121,294 shares in the last quarter. 32.87% of the stock is currently owned by 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.