GenMark Diagnostics, Inc (NASDAQ:GNMK) Short Interest Update

GenMark Diagnostics, Inc (NASDAQ:GNMK) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,880,000 shares, an increase of 11.9% from the December 15th total of 1,680,000 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily trading volume, of 280,200 shares, the short-interest ratio is presently 6.7 days.

NASDAQ:GNMK traded up $0.14 during trading hours on Thursday, hitting $4.83. 5,690 shares of the company were exchanged, compared to its average volume of 245,291. The stock has a market capitalization of $268.62 million, a price-to-earnings ratio of -5.31 and a beta of 1.15. GenMark Diagnostics has a 52-week low of $4.47 and a 52-week high of $8.37. The company has a debt-to-equity ratio of 6.40, a current ratio of 2.69 and a quick ratio of 2.11. The company’s 50 day moving average price is $5.18 and its 200-day moving average price is $5.81.

GenMark Diagnostics (NASDAQ:GNMK) last released its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $20.92 million for the quarter, compared to analysts’ expectations of $20.66 million. GenMark Diagnostics had a negative return on equity of 239.16% and a negative net margin of 60.63%. On average, equities analysts predict that GenMark Diagnostics will post -0.81 earnings per share for the current year.

GNMK has been the topic of a number of analyst reports. ValuEngine raised shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a research report on Thursday, December 26th. JPMorgan Chase & Co. downgraded shares of GenMark Diagnostics from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $11.00 to $7.00 in a research report on Wednesday, December 11th. BidaskClub raised shares of GenMark Diagnostics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 8th. Finally, Zacks Investment Research downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. GenMark Diagnostics presently has an average rating of “Hold” and a consensus target price of $9.67.

In other news, CEO Hany Massarany sold 7,744 shares of GenMark Diagnostics stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $5.55, for a total value of $42,979.20. Following the transaction, the chief executive officer now owns 792,468 shares of the company’s stock, valued at approximately $4,398,197.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Scott Mendel sold 5,206 shares of GenMark Diagnostics stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $5.43, for a total transaction of $28,268.58. Following the completion of the transaction, the chief operating officer now directly owns 330,663 shares in the company, valued at approximately $1,795,500.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,268 shares of company stock worth $282,629. Insiders own 5.24% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its stake in GenMark Diagnostics by 145.4% during the 2nd quarter. Bank of Montreal Can now owns 7,687 shares of the medical equipment provider’s stock valued at $50,000 after acquiring an additional 4,554 shares during the period. Metropolitan Life Insurance Co NY lifted its stake in shares of GenMark Diagnostics by 15.9% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 18,942 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 2,602 shares during the period. Stifel Financial Corp acquired a new position in shares of GenMark Diagnostics in the 3rd quarter valued at $131,000. Susquehanna International Group LLP acquired a new position in shares of GenMark Diagnostics in the 2nd quarter valued at $131,000. Finally, Commonwealth Equity Services LLC lifted its stake in shares of GenMark Diagnostics by 20.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 21,700 shares of the medical equipment provider’s stock valued at $131,000 after purchasing an additional 3,700 shares during the period. 90.84% of the stock is currently owned by institutional investors.

About GenMark Diagnostics

GenMark Diagnostics, Inc, a molecular diagnostics company, develops and commercializes molecular tests based on its proprietary eSensor electrochemical detection technology. It provides ePlex instrument and respiratory pathogen panel, which integrates automated nucleic acid extraction and amplification with its eSensor detection technology to enable operators using ePlex system to place patient sample directly into its test cartridge and obtain results.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

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