On Jan. 06, Jensen Tyler divested U.S. $820,952 in shares of GenMark Diagnostics Inc.. The SVP, Engineering, Tech Dev sold 49,300 shares at a price per share of $16.65. The transaction decreased this specific insider’s holdings to 190,008 shares worth around $3.16 million at present.
Needham maintained its GenMark Diagnostics Inc. [GNMK] rating to the equivalent of a Buy but changed the price target to $22 from $19, in a research note dated August 05, 2020. That figure represents around a 24.41% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Needham’s analysts reiterating the shares to “a Buy” rating in a research note to investors issued in early August. Meanwhile, Needham had maintained its rating on GNMK to the earlier “Buy” rating, in a research note produced for clients July 08, 2020. In addition, there was no change from Needham on May 05, 2020. The rater maintained GNMK to “a Buy” but assigned new target price of $15.
Is GenMark Diagnostics Inc. [NASDAQ:GNMK] a Good Buy Right Now?
It should be noted that GNMK technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 72% Buy in the last week and compares with 24% Buy in the past month. Data from GenMark Diagnostics Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 0.69 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.76 million shares while the medium term average advocated for 50% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.96 million shares.
GNMK Price Performance
On Wall Street, GenMark Diagnostics Inc. [NASDAQ:GNMK] finished Friday’s session up 0.24% at $16.63. The stock went up to $17.2099 at the same session while its lowest single day price was $16.20. In the last five days, it saw a rise of about 13.90%, GenMark Diagnostics Inc. shares gained by almost 13.90% since the beginning of the year. However, the share price has dropped to as low as -20.35% below its one year high. On 01/07/21, the company shares recorded $17.58, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $14.53. The company’s shares have inclined by 213.18% in the past year. The 50-day SMA achieved is $13.78 while the 200-day SMA is $12.82. Volume dropped to 0.6 million from 1.2 million in the previous session.
GNMK Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 16.15 level, and in case of violation of this particular level, it will cause more drop to 15.67 level. On the upper level, 17.69 is still the key resistance. The stock may increase to the subsequent resistance at 17.16. The Relative Strength Index (RSI) pinned on the 14-day chart is 71.24, implying a overbought technical stance while the MACD stands at 1.35, meaning price will increase in the next trading period. Percent R indicator moved to 22.73%, implying bullish price movement. Stochastic %K at 84.93% suggest selling the stock.
What is the short interest in GenMark Diagnostics Inc.?
Short interest in the GenMark Diagnostics Inc. stock has surged, increasing by 0.67 million shares to total 6.86 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 7.53 million, data from Yahoo Finance shows. The decrease of -9.77% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 11.01% of the overall float for the stock.
GenMark Diagnostics Inc.’s Biggest Shareholders: Who Owns GenMark Diagnostics Inc. [GNMK]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 9,779,418 shares or roughly 13.64% of the outstanding GNMK shares. This means their shares have increased by 249,204 from the 9,779,418 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Consonance Capital Management LP updated stake is worth $70,859,168. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -1.02% stake valued at $63,302,337 while Redmile Group LLC cut theirs at $63,020,832. During the last quarter, BlackRock Fund Advisors liquidated -48,796 of its shares in GenMark Diagnostics Inc. while Redmile Group LLC sold -189,800 shares. The The Vanguard Group, Inc.’s holdings currently number 4,163,693 shares at $69242214.59. According to the firm’s last 13F report, Renaissance Technologies LLC shares in the company at filing stood at 2,706,600 shares, roughly $36,187,242.
GNMK Earnings Forecast For The Current Quarter
GenMark Diagnostics Inc. [GNMK] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $45.87M and an earnings per share of -$0.02 for Dec 2020. Looking further ahead, the company is expected to report revenue of $47.58M at an EPS of -$0.01 for Mar 2021. The estimates represent upside of 7.90% and 70.80% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
GNMK Earnings Estimates For The Current Year
For the financial year, GenMark Diagnostics Inc. [NASDAQ:GNMK] is expected to bring in revenue of $167.48M. The returns are nearly $79.46 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -0.24, higher than that of FY19 by $0.58. Estimates put this year’s earnings growth at 70.70%, 70.80% for the next, and at an annual -43.90% over the next 5-year period. As for sales, forecasts are for an increase of 90.30% in the current fiscal year and a further 7.90% over the following year.
What are analyst thoughts on GenMark Diagnostics Inc.?
Looking forward to the GenMark Diagnostics Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for GenMark Diagnostics Inc. stock at $22.00 within the next 12 months, which represents almost 24.41 per cent growth from its previous closing price of $16.63. The highest analysts’ target for GenMark Diagnostics Inc. stock projections is $23.00 and the lowest one is $15.00. Still, 7 analysts sharing their consensus rating for GNMK stock in 2021 agree that it is an Overweight.