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

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

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

Cytosorbents Stock Down 1.0 %

CTSO traded down $0.01 during trading on Friday, hitting $1.04. 74,275 shares of the company's stock were exchanged, compared to its average volume of 121,939. The company has a quick ratio of 1.71, a current ratio of 2.12 and a debt-to-equity ratio of 0.82. The business's 50 day moving average is $1.16 and its two-hundred day moving average is $1.00. Cytosorbents has a fifty-two week low of $0.70 and a fifty-two week high of $2.15. The stock has a market cap of $56.48 million, a P/E ratio of -1.78 and a beta of 0.51.

Cytosorbents (NASDAQ:CTSO - Get Free Report) last announced its earnings results on Tuesday, August 13th. The medical research company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $9.89 million during the quarter, compared to the consensus estimate of $9.73 million. Cytosorbents had a negative net margin of 68.70% and a negative return on equity of 131.84%. During the same quarter in the prior year, the company posted ($0.14) earnings per share. As a group, equities analysts expect that Cytosorbents will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of Cytosorbents

A number of large investors have recently added to or reduced their stakes in the stock. Avenir Corp increased its holdings in Cytosorbents by 4.0% during the first quarter. Avenir Corp now owns 3,172,696 shares of the medical research company's stock worth $3,014,000 after buying an additional 121,294 shares during the last quarter. Sargent Investment Group LLC boosted its position in Cytosorbents by 4.9% during the second quarter. Sargent Investment Group LLC now owns 1,433,500 shares of the medical research company's stock worth $1,008,000 after purchasing an additional 67,181 shares during the period. CM Management LLC boosted its position in Cytosorbents by 3.0% during the second quarter. CM Management LLC now owns 850,000 shares of the medical research company's stock worth $598,000 after purchasing an additional 25,000 shares during the period. Finally, Atomi Financial Group Inc. bought a new position in Cytosorbents during the third quarter worth about $51,000. Hedge funds and other institutional investors own 32.87% of the company's stock.

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.