As of Wednesday close, T2 Biosystems Inc.’s (NASDAQ:TTOO) stock was down -$0.04, moving down -11.00 percent to $0.30. The average number of shares traded per day over the past five days has been 148,180,000 shares. 3 times new highs have been achieved over the past 5 days, with a $0.0267 gain in that time frame. In the last twenty days, the average volume was 88,551,648, while in the previous 50 days, it was 122,137,609.
Since last month, TTOO stock retreated -42.61%. Shares of the company fell to $0.2349 on 09/15/23, the lowest level in the past month. A 52-week high of $5.72 was reached on 01/17/23 after having rallying from a 52-week low of $0.05. Since the beginning of this year, TTOO’s stock price has dropped by -78.75% or -$1.1183, and marked a new high 8 times. However, the stock has declined by -94.73% since its 52-week high.
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TTOO stock investors should be aware that T2 Biosystems Inc. (TTOO) stock had its last reported insider trading activity 177 days ago on Mar 28. Gibbs Michael Terrence, the General Counsel of the company, disposed of 239 shares for $0.48 on Mar 28. It resulted in a $115 divestment by the insider. Sperzel John J III sold 2,898 shares at an average price of $0.59 on Feb 28. The insider now owns 17,329 shares following the transaction. On Feb 28, General Counsel Gibbs Michael Terrence sold 1,585 shares at $0.59 apiece. The transaction was valued at $935.
Financial Health
In the three months ended June 29, T2 Biosystems Inc.’s quick ratio stood at 0.30, while its current ratio was 0.40, showing that the company is not able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is -41.50% percent. Based on annual data, TTOO earned $1.2 million in gross profit and brought in $22.3 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -552.00%. Return on equity (ROE) for the past 12 months was 132.20%.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. TTOO’s revenue fell -201.53% to $2.08 million during the quarter, while net income inched up to $1.96 million. While analysts expected T2 Biosystems Inc. to report -$0.27 quarterly earnings, the actual figure was -$0.08 per share, beating the consensus estimate by 70.40%. During the quarter, the company generated -$12.78 million in EBITDA. The liabilities of T2 Biosystems Inc. were 73.55 million at the end of its most recent quarter ended June 29, and its total debt was $59.48 million. The value of shareholders’ equity is $333.58 million.
Technical Picture
This quick technical analysis looks at T2 Biosystems Inc.’s (TTOO) price momentum. With a historical volatility rate of 345.24%, the RSI 9-day stood at 47.11% on 20 September.
With respect to its five-day moving average, the current T2 Biosystems Inc. price is up by +9.71% percent or $0.0267. At present, TTOO shares trade -37.19% below its 20-day simple moving average and -8.58% percent below its 100-day simple moving average. However, the stock is currently trading approximately +101.27% above its SMA50 and -82.36% below its SMA200.
Stochastic coefficient K was 56.35% and Stochastic coefficient D was 52.19%, while ATR was 0.0823. Given the Stochastic reading of 28.60% for the 14-day period, the RSI (14) reading has been calculated as 48.39%. As of today, the MACD Oscillator reading stands at 0.0582, while the 14-day reading stands at 0.0503.
Analyst Ratings
T2 Biosystems Inc. downgraded its rating on T2 Biosystems Inc. (NASDAQ: TTOO) to a Neutral in a note to investors on January 27, 2021. The analysts firm previously had a Buy rating on the stock.T2 Biosystems Inc. (TTOO) has been rated Hold by analysts. According to 0 brokerage firms, TTOO is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate T2 Biosystems Inc. stock as buy, with 0 recommending it as overweight.
With a median target price of $0.15, the current consensus forecast for the stock is $0.12 – $0.18. Based on these forecasts, analysts predict T2 Biosystems Inc. (TTOO) will achieve an average price target of $0.15.
