Quotient (NASDAQ:QTNT) Rating Lowered to Hold at Zacks Investment Research

Quotient (NASDAQ:QTNT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Quotient Limited is a commercial-stage transfusion diagnostics company. It is focused on supplying blood-grouping consumables and developing MosaiQ, a fully automated platform for use in donor centers and patient-testing sites. Quotient Limited is headquartered in Edinburgh, Scotland and Newton, Pennsylvania. “

Separately, The Goldman Sachs Group dropped their price target on shares of Quotient from $5.00 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, August 6th.

QTNT stock opened at $2.27 on Wednesday. The stock has a market cap of $232.21 million, a P/E ratio of -2.06 and a beta of 2.30. The firm has a 50 day simple moving average of $2.51 and a 200 day simple moving average of $3.21. Quotient has a 52 week low of $1.88 and a 52 week high of $7.59.

Several institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its stake in shares of Quotient by 114.2% in the 3rd quarter. Citigroup Inc. now owns 10,992 shares of the company’s stock valued at $26,000 after acquiring an additional 5,861 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in Quotient during the 3rd quarter worth approximately $27,000. Balyasny Asset Management LLC acquired a new stake in shares of Quotient in the 3rd quarter valued at approximately $28,000. Teacher Retirement System of Texas acquired a new stake in shares of Quotient in the 3rd quarter valued at approximately $29,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Quotient in the 3rd quarter valued at approximately $29,000. 80.87% of the stock is owned by institutional investors and hedge funds.

Quotient Company Profile

Quotient Ltd. is a commercial-stage diagnostics company, which provides immunohematology products to hospitals and blood banks. Its products and services include MOSAIQ and ALBA. The firm develops, manufactures, and sells conventional reagent products to equipment manufacturers. It engages in transfusion diagnostics, which focuses on blood grouping and serological disease screening.

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