Fluidigm (NASDAQ:FLDM) Stock Price Up 10.8%

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Fluidigm Co. (NASDAQ:FLDM) rose 10.8% during mid-day trading on Monday . The company traded as high as $4.33 and last traded at $4.10, approximately 2,393,156 shares changed hands during trading. An increase of 70% from the average daily volume of 1,411,137 shares. The stock had previously closed at $3.70.

Separately, Zacks Investment Research downgraded shares of Fluidigm from a “hold” rating to a “sell” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $6.67.

The business’s 50-day simple moving average is $4.21 and its two-hundred day simple moving average is $3.38. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.33 and a quick ratio of 1.87.

Fluidigm (NASDAQ:FLDM) last issued its quarterly earnings data on Thursday, May 7th. The medical research company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.09). The firm had revenue of $27.62 million during the quarter. Fluidigm had a negative return on equity of 23.20% and a negative net margin of 48.20%. Sell-side analysts expect that Fluidigm Co. will post -0.53 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in shares of Fluidigm by 24.1% during the 1st quarter. Russell Investments Group Ltd. now owns 7,271,245 shares of the medical research company’s stock worth $18,460,000 after purchasing an additional 1,411,413 shares during the last quarter. Partner Fund Management L.P. raised its position in shares of Fluidigm by 4.0% during the 4th quarter. Partner Fund Management L.P. now owns 3,234,984 shares of the medical research company’s stock worth $11,258,000 after purchasing an additional 125,805 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Fluidigm by 1.6% during the 4th quarter. Renaissance Technologies LLC now owns 2,788,100 shares of the medical research company’s stock worth $9,703,000 after purchasing an additional 42,740 shares during the last quarter. FMR LLC acquired a new position in shares of Fluidigm during the 1st quarter worth about $24,188,000. Finally, Paradigm Capital Management Inc. NY raised its position in shares of Fluidigm by 119.5% during the 1st quarter. Paradigm Capital Management Inc. NY now owns 1,487,700 shares of the medical research company’s stock worth $3,779,000 after purchasing an additional 809,800 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

About Fluidigm (NASDAQ:FLDM)

Fluidigm Corporation creates, manufactures, and markets technologies and tools for life sciences research in the United States and Europe. It offers analytical systems comprising Helios, a CyTOF system, Hyperion imaging system, and Hyperion tissue imager; and assays and reagents, including Maxpar reagents and Maxpar human immune monitoring panel kit and workflow.

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