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Take A Look At This Nanostring Technologies Inc (NASDAQ: NSTG) Analysis Before Investing

Nanostring Technologies Inc (NASDAQ:NSTG) price closed lower on Monday, February 12, dropping -26.83% below its previous close.

A look at the daily price movement shows that the last close reads $0.23. The company’s 5Y monthly beta was ticking 1.24. Taking into account the 52-week price action we note that the stock hit a 52-week high of $11.77 and 52-week low of $0.05. The stock subtracted -61.75% on its value in the past month.

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Nanostring Technologies Inc, which has a market valuation of $8.10 million, is expected to release its quarterly earnings report Feb 26, 2024 – Mar 01, 2024. Analysts tracking NSTG have forecast the quarterly EPS to shrink by -0.7 per share this quarter, while the same analysts predict the annual EPS to hit -$3.28 for the year 2024 and up to -$1.69 for 2024. In this case, analysts estimate an annual EPS growth of 4.70% for the year and 48.50% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $48.92 million, with the likely lows of $47 million and highs of $50 million. The average estimate suggests sales growth for the quarter will likely rise by 42.10% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $177.33 million for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow 39.30% above that which the company brought in 2023.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give NSTG a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

The overview shows that NSTG’s price is at present -51.84% off the SMA20 and -66.50% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 37.32, with weekly volatility standing at 164.08%. The indicator jumps to 53.58% when calculated based on the past 30 days. Nanostring Technologies Inc (NASDAQ:NSTG)’s beta value is holding at 1.16, while the average true range (ATR) indicator is currently reading 0.11.

Turning out attention to how the Nanostring Technologies Inc stock has performed in comparison to its peers in the industry, here’s what we find: NSTG’s stock is -26.83% on the day and -98.51% in the past 12 months, while Thermo Fisher Scientific Inc. (TMO) traded -0.71%% in the last session and was positioned -4.89% down on its price 12 months ago. Turning out attention to how the Nanostring Technologies Inc stock has performed in comparison to its peers in the industry, here’s what we find: NSTG’s stock is -26.83% on the day and -98.51% in the past 12 months, while Thermo Fisher Scientific Inc. (TMO) traded -0.71%% in the last session and was positioned -4.89% down on its price 12 months ago. Also, Pacific Biosciences of California Inc. (PACB) showed up trend of 1.05%% while its price kept floating at -34.60% over the past year.

An analysis of the Nanostring Technologies Inc (NASDAQ:NSTG) stock in terms of its daily trading volume indicates that the 3-month average is 3.44. However, this figure increases on the past 10-day timeline to an average of 93.57 million.

Current records show that the company has 46.72M in outstanding shares. The insiders’ percentage holdings are 3.15% of outstanding shares while the percentage share held by institutions stands at 115.31%. The stats also highlight that short interest as of Jan 31, 2024, stood at 6.04 million shares, which puts the short ratio at the time at 6.63. From this we can glean that short interest is 12.55% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 5.35 million. But the -77.51% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.