Skylands Capital LLC recently announced the acquisition of new stake in Cytosorbents Corporation (NASDAQ:CTSO). The institutional investor has increased its shareholding in the Healthcare company by 0.95% to 2.35 million shares with purchase of 22037.0 shares. This fresh investment now brings its stake to 5.38% valued currently at $3.64 million. In addition, Avenir Corp. raised its holdings by 0.15 million to 2.31 million shares. And Granahan Investment Management, L has lifted its position by 9.18% or 0.13 million shares – to 1.51 million shares.
With over 0.15 million Cytosorbents Corporation (CTSO) shares trading Tuesday and a closing price of $2.33 on the day, the dollar volume was approximately $0.35 million. The shares have shown a positive half year performance of 11.48% and its price on 01/24/23 gained nearly 8.88%. Currently, there are 43.61M common shares owned by the public and among those 39.40M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for CTSO have a consensus price objective of $9.00. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $5.50. The average price target is 74.11% above its recent price level and an upside to the estimated low will see the stock gain 57.64% over that period. But an upside of 85.44% will see the stock hit the forecast high price target while median target price for the stock is $7.25.
Insiders at the company have transacted a total of 28 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 502,397 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Cytosorbents Corporation are Vanguard Total Stock Market Index, JNL Multi-Manager Small Cap Growt, and APO Medical Opportunities. Vanguard Total Stock Market Index owns 1.3 million shares of the company’s stock, all valued at over $2.02 million. JNL Multi-Manager Small Cap Growt bought 27900.0 shares to see its total holdings expand to 0.62 million shares valued at over $0.96 million and representing 1.42% of the shares outstanding. APO Medical Opportunities now owns shares totaling to 1.39% of the shares outstanding.
However, the script later moved the day high at 2.4300, up 8.88%. The company’s stock has a 5-day price change of 4.02% and 48.41% over the past three months. CTSO shares are trading 50.32% year to date (YTD), with the 12-month market performance down to -31.47% lower. It has a 12-month low price of $1.03 and touched a high of $4.15 over the same period. CTSO has an average intraday trading volume of 182.68K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 26.32%, 51.24%, and 22.68% respectively.
Institutional ownership of Cytosorbents Corporation (NASDAQ: CTSO) shares accounts for 38.20% of the company’s 43.61M shares outstanding. Mutual fund holders own 19.02%, while other institutional holders and individual stakeholders account for 23.74% and 12.73% respectively.
It has a market capitalization of $103.08M and a beta (3y monthly) value of 0.54. The earnings-per-share (ttm) stands at -$0.95. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.71% over the week and 11.49% over the month.
Analysts forecast that Cytosorbents Corporation (CTSO) will achieve an EPS of -$0.16 for the current quarter, -$0.14 for the next quarter and -$0.4 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.19 while analysts give the company a high EPS estimate of -$0.13. Comparatively, EPS for the current quarter was -$0.15 a year ago. Earnings per share for the fiscal year are expected to decrease by -180.50%, and 55.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Cytosorbents Corporation (CTSO) as a “Strong Buy” at a consensus score of 1.70. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CTSO, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on October 14, 2021, with the firm’s price target at $10. Jefferies coverage for the Cytosorbents Corporation (CTSO) stock in a research note released on September 17, 2020 offered a Buy rating with a price target of $15. SVB Leerink was of a view on September 01, 2020 that the stock is Outperform, while Maxim Group gave the stock Buy rating on August 08, 2017, issuing a price target of $10- $12. Aegis Capital on their part issued Buy rating on October 26, 2016.
