Polarityte Inc (NASDAQ:PTE) Expected to Announce Earnings of -$0.92 Per Share

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Wall Street brokerages predict that Polarityte Inc (NASDAQ:PTE) will post ($0.92) earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Polarityte’s earnings, with the lowest EPS estimate coming in at ($1.08) and the highest estimate coming in at ($0.72). The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Polarityte will report full-year earnings of ($3.85) per share for the current financial year, with EPS estimates ranging from ($4.05) to ($3.64). For the next year, analysts forecast that the firm will post earnings of ($2.88) per share, with EPS estimates ranging from ($3.55) to ($2.21). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Polarityte.

Polarityte (NASDAQ:PTE) last released its earnings results on Tuesday, November 12th. The company reported ($0.87) EPS for the quarter, beating the consensus estimate of ($1.01) by $0.14. The business had revenue of $1.40 million for the quarter, compared to analyst estimates of $1.41 million. During the same period in the prior year, the company earned ($0.86) earnings per share.

PTE has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of Polarityte in a report on Wednesday, November 13th. Cantor Fitzgerald cut their price target on shares of Polarityte from $50.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Piper Jaffray Companies cut their price target on shares of Polarityte from $26.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Zacks Investment Research upgraded shares of Polarityte from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Wednesday, January 1st. Finally, Northland Securities restated a “buy” rating and set a $20.00 price target on shares of Polarityte in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Polarityte presently has a consensus rating of “Buy” and an average target price of $11.75.

Shares of PTE stock traded down $0.36 during trading hours on Tuesday, reaching $3.06. 328,542 shares of the stock traded hands, compared to its average volume of 219,382. Polarityte has a 1-year low of $2.10 and a 1-year high of $18.17. The business has a fifty day moving average price of $2.84 and a 200 day moving average price of $3.73. The company has a quick ratio of 3.62, a current ratio of 3.65 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $93.16 million, a PE ratio of -0.63 and a beta of 1.63.

In other Polarityte news, CFO Paul Elliot Mann sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $2.71, for a total value of $29,810.00. Following the transaction, the chief financial officer now owns 453,227 shares in the company, valued at approximately $1,228,245.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rainer M. Erdtmann sold 31,846 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $2.47, for a total transaction of $78,659.62. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $49,400. The disclosure for this sale can be found here. Insiders have sold 52,348 shares of company stock worth $137,344 in the last 90 days. 8.38% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. acquired a new position in Polarityte in the 1st quarter valued at approximately $73,000. Marshall Wace LLP acquired a new position in Polarityte in the 1st quarter valued at approximately $126,000. Bernardo Wealth Planning LLC acquired a new position in Polarityte in the 2nd quarter valued at approximately $68,000. Voloridge Investment Management LLC acquired a new position in Polarityte in the 3rd quarter valued at approximately $49,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Polarityte in the 2nd quarter valued at approximately $86,000. Hedge funds and other institutional investors own 32.57% of the company’s stock.

Polarityte Company Profile

PolarityTE, Inc, a biotechnology and regenerative biomaterials company, focuses on discovering, designing, and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering, and material sciences in the United States. The company operates in two segments, Regenerative Medicine and Contract Services.

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Earnings History and Estimates for Polarityte (NASDAQ:PTE)

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