Short Interest in Fulgent Genetics, Inc. (NASDAQ:FLGT) Rises By 38.7%

Fulgent Genetics, Inc. (NASDAQ:FLGT) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 2,135,898 shares, a growth of 38.7% from the February 26th total of 1,540,495 shares. Based on an average daily volume of 976,923 shares, the days-to-cover ratio is presently 2.2 days. Currently, 10.2% of the shares of the company are sold short.

Fulgent Genetics Price Performance

Shares of FLGT traded up $0.04 on Monday, hitting $15.63. The company’s stock had a trading volume of 350,774 shares, compared to its average volume of 489,868. The company has a 50 day moving average price of $20.59 and a 200 day moving average price of $23.88. The company has a market capitalization of $488.12 million, a PE ratio of -7.97 and a beta of 0.94. Fulgent Genetics has a fifty-two week low of $13.46 and a fifty-two week high of $31.04.

Fulgent Genetics (NASDAQ:FLGT) last announced its earnings results on Friday, February 27th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.14. Fulgent Genetics had a negative return on equity of 2.22% and a negative net margin of 18.75%.The company had revenue of $83.34 million during the quarter, compared to analyst estimates of $85.38 million. Fulgent Genetics has set its FY 2026 guidance at -1.450–1.450 EPS. On average, equities analysts forecast that Fulgent Genetics will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its position in Fulgent Genetics by 69.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,339 shares of the company’s stock valued at $35,000 after buying an additional 548 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Fulgent Genetics during the fourth quarter worth $35,000. Caitong International Asset Management Co. Ltd raised its position in shares of Fulgent Genetics by 214.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,834 shares of the company’s stock worth $48,000 after acquiring an additional 1,251 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Fulgent Genetics during the fourth quarter valued at $56,000. Finally, Raymond James Financial Inc. bought a new position in Fulgent Genetics in the second quarter valued at about $49,000. Institutional investors own 48.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FLGT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Fulgent Genetics in a research note on Thursday, January 22nd. Zacks Research downgraded shares of Fulgent Genetics from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Finally, Wall Street Zen lowered shares of Fulgent Genetics from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.00.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.