FLGT has a $72.33 Target, great upside potential Wow, tough day for FLGT, hit a high of $52.45 today but really fell back by market close. Not sure why, but I will be picking up additional shares tomorrow morning, to date I'm up 38+% and I continue to like FLGT, especially the strong insider share %. Came across the following, thought it was worth sharing....
Fulgent Genetics, Inc. (NASDAQ:FLGT) has a beta value of 1.92 and has seen 1,347,539 shares traded in the last trading session. The company, currently valued at $1.21 Billion, closed the last trade at $49.87 per share which meant it lost -$1.21 on the day or -2.37% during that session. The FLGT stock price is -8.56% off its 52-week high price of $54.14 and 86.57% above the 52-week low of $6.7. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.01 Million shares traded. The 3-month trading volume is 1.27 Million shares.
The consensus among analysts is that Fulgent Genetics, Inc. (FLGT) is an Overweight stock at the moment, with a recommendation rating of 2.2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 2 out of 4 have rated it as a Hold, with 2 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $2.91.
Despite being -2.37% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Dec 10 when the FLGT stock price touched $54.14- or saw a rise of 7.89%. Year-to-date, Fulgent Genetics, Inc. shares have moved 286.59%, while the 5-day performance has seen it change 14.51%. Over the past 30 days, the shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) have changed 52.27%. Short interest in the company has seen 3.66 Million shares shorted with days to cover at 2.88.
Wall Street analysts have a consensus price target for the stock at $72.33, which means that the shares’ value could jump 45.04% from current levels. The projected low price target is $42 while the price target rests at a high of $100. In that case, then, we find that the current price level is +100.52% off the targeted high while a plunge would see the stock lose -15.78% from current levels.
Figures show that Fulgent Genetics, Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +202.24% over the past 6 months, with this year growth rate of 2189.47%, compared to 2.3% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 7175% and 5933.3% for the next quarter. Revenue growth from the last financial year stood is estimated to be +776.9%.
4 analysts offering their estimates for the company have set an average revenue estimate of $158.49 Million for the current quarter. 4 have an estimated revenue figure of $143.81 Million for the next quarter concluding in March 01, 2021. Year-ago sales stood $8.39 Million for this quarter, and analysts expect sales will grow by 1789.7% for the current quarter.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +17.3% over the past 5 years. Earnings growth for 2020 is a modest +93%.
Insiders own 41.38% of the company shares, while shares held by institutions stand at 34.59% with a share float percentage of 59.02%. Investors are also buoyed by the number of investors in a company, with Fulgent Genetics, Inc. having a total of 174 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 1.59 Million shares worth more than $63.54 Million. As of September 29, 2020, Blackrock Inc. held 6.54% of shares outstanding.
The other major institutional holder is Raymond James Trust N.a., with the holding of over 1.24 Million shares as of September 29, 2020. The firm’s total holdings are worth over $49.61 Million and represent 5.1% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. As of October 30, 2020, the former fund manager holds about 2.98% shares in the company for having 722209 shares of worth $23.49 Million while later fund manager owns 340.27 Thousand shares of worth $13.62 Million as of September 29, 2020, which makes it owner of about 1.4% of company’s outstanding stock.