T2 Biosystems Inc. (NASDAQ:TTOO) finished Wednesday with a subtraction of $0.0 to close at $0.48, a downside of -0.52 percent. An average of 125,552,781 shares of common stock have been traded in the last five days. There was a fall of -$0.0910 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 177,849,203 shares traded, while the 50-day average volume stands at 118,986,773.
TTOO stock has increased by 326.61% in the last month. The company shares reached their 1-month lowest point of $0.0900 on 07/24/23. With the stock rallying to its 52-week high on 01/17/23, shares of the company touched a low of $0.05 and a high of $6.80 in 52 weeks. It has reached a new high 8 times so far this year and lost -66.35% or -$0.9422 in price. In spite of this, the price is down -92.97% from the 52-week high.
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Insider Transactions
TTOO stock investors should be aware that T2 Biosystems Inc. (TTOO) stock had its last reported insider trading activity 149 days ago on Mar 28. In this transaction, the insider spent $115. Chairman and CEO, Sperzel John J III, disposed of 2,898 shares at a price of $0.59 on Feb 28. The insider now owns more than $1,710 worth of shares. Prior to that, General Counsel Gibbs Michael Terrence went on to Sale 1,585 shares at $0.59 each on Feb 28. An amount of $935 was transacted.
Valuation Metrics
T2 Biosystems Inc. (TTOO) stock’s beta is -0.25. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.54.
Financial Health
The quick ratio of T2 Biosystems Inc. for the three months ended June 29 was 0.80, and the current ratio was 1.10, indicating that the company is not able to meet its debt obligations. T2 Biosystems Inc.’s EBITDA margin for the year ending June 29 is -232.12%. Its gross profit as reported stood at $1.2 million compared to revenue of $22.3 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, T2 Biosystems Inc.’s return on assets was -165.50%.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$6.35 million in the quarter, while revenues of -$17.97 million were shrunk -183.94%. The analyst consensus anticipated T2 Biosystems Inc.’s latest quarter earnings to come in at -$0.27 per share, but it turned out to be -$0.08, a 70.40% surprise. For the quarter, EBITDA amounted to -$12.78 million. Shareholders own equity worth $333.58 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at T2 Biosystems Inc. (TTOO) price momentum. RSI 9-day as of the close on 23 August was 59.60%, suggesting the stock is Neutral, with historical volatility in this time frame at 282.10%.
As of today, TTOO’s price is $0.4994 -16.00% or -$0.0910 from its 5-day moving average. TTOO is currently trading +301.85% higher than its 20-day SMA and +3.87% higher than its 100-day SMA. However, the stock’s current price level is +646.56% above the SMA50 and -72.70% below the SMA200.
The stochastic %K and %D were 58.63% and 63.77%, respectively, and the average true range (ATR) was 0.1087. With the 14-day stochastic at 53.47% and the average true range at 0.0935, the RSI (14) stands at 62.03%. The stock has reached 0.0074 on the 9-day MACD Oscillator while the 14-day reading was at 0.0761.
Analyst Ratings
Alliance Global Partners downgraded T2 Biosystems Inc. (NASDAQ: TTOO) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for T2 Biosystems Inc. (TTOO) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell TTOO, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.
What is TTOO’s price target for the next 12 months?
Analysts predict a range of price targets between $0.12 and $0.18, with a median target of $0.15. Taking a look at these predictions, the average price target given by analysts for T2 Biosystems Inc. (TTOO) stock is $0.15.
