Quanterix Co. (NASDAQ:QTRX) Sees Large Decline in Short Interest

Quanterix Co. (NASDAQ:QTRX - Get Free Report) was the target of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 2,040,000 shares, a decline of 32.0% from the February 28th total of 3,000,000 shares. Approximately 6.2% of the company's shares are short sold. Based on an average daily trading volume, of 780,100 shares, the short-interest ratio is currently 2.6 days.

Institutional Trading of Quanterix

A number of institutional investors have recently modified their holdings of the company. Resona Asset Management Co. Ltd. purchased a new position in Quanterix in the fourth quarter valued at approximately $55,000. Tower Research Capital LLC TRC grew its position in Quanterix by 219.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,702 shares of the company's stock valued at $61,000 after acquiring an additional 3,915 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Quanterix during the fourth quarter valued at approximately $66,000. Canada Pension Plan Investment Board lifted its position in shares of Quanterix by 64.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 10,200 shares of the company's stock worth $108,000 after purchasing an additional 4,000 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Quanterix in the fourth quarter valued at $108,000. Hedge funds and other institutional investors own 86.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Quanterix in a research note on Tuesday, March 25th. Canaccord Genuity Group decreased their price objective on Quanterix from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th.

Quanterix Stock Performance

Quanterix stock traded down $0.48 during trading on Thursday, reaching $6.24. The company had a trading volume of 163,651 shares, compared to its average volume of 515,029. Quanterix has a 12-month low of $6.15 and a 12-month high of $22.59. The stock's 50 day moving average price is $7.81 and its two-hundred day moving average price is $10.52. The firm has a market capitalization of $241.96 million, a price-to-earnings ratio of -5.89 and a beta of 1.35.

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

About Quanterix

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.