Rodman & Renshaw reiterated their buy rating on shares of TearLab Corp. (NASDAQ:TEAR) in a research report report published on Saturday. The brokerage currently has a $2.00 price objective on the stock.
TEAR has been the subject of several other research reports. Zacks Investment Research upgraded TearLab Corp. from a sell rating to a hold rating in a research report on Thursday, September 22nd. Roth Capital downgraded TearLab Corp. from a buy rating to a neutral rating in a research report on Thursday, August 4th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $2.60.
Shares of TearLab Corp. (NASDAQ:TEAR) traded up 0.5645% during midday trading on Friday, hitting $0.6235. The stock had a trading volume of 18,936 shares. TearLab Corp. has a one year low of $0.58 and a one year high of $2.11. The firm’s 50-day moving average price is $0.69 and its 200-day moving average price is $0.73. The firm’s market capitalization is $32.98 million.
TearLab Corp. (NASDAQ:TEAR) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.08). The company had revenue of $6.90 million for the quarter, compared to the consensus estimate of $6.95 million. TearLab Corp.’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.24) EPS. On average, equities analysts predict that TearLab Corp. will post ($0.44) EPS for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in TearLab Corp. by 0.4% in the second quarter. Vanguard Group Inc. now owns 825,984 shares of the company’s stock valued at $528,000 after buying an additional 3,100 shares during the period. First Light Asset Management LLC boosted its stake in TearLab Corp. by 0.4% in the second quarter. First Light Asset Management LLC now owns 3,760,430 shares of the company’s stock valued at $2,407,000 after buying an additional 14,267 shares during the period. Perkins Capital Management Inc. boosted its stake in TearLab Corp. by 38.0% in the second quarter. Perkins Capital Management Inc. now owns 1,755,242 shares of the company’s stock valued at $1,123,000 after buying an additional 483,500 shares during the period. Sabby Management LLC purchased a new stake in TearLab Corp. during the second quarter valued at approximately $1,205,000. Finally, AWM Investment Company Inc. purchased a new stake in TearLab Corp. during the second quarter valued at approximately $3,377,000. 38.50% of the stock is owned by institutional investors.
TearLab Corp. Company Profile
TearLab Corporation is an in-vitro diagnostic company. The Company has commercialized a tear testing platform, the TearLab Osmolarity System, which enables eye care practitioners to test for sensitive and specific biomarkers using nanoliters of tear film at the point-of-care. The Company, through its subsidiary TearLab Research, Inc, develops technologies to enable eye care practitioners to test a range of biomarkers (chemistries, metabolites, genes and proteins) at the point-of-care.
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