Accelerate Diagnostics (NASDAQ:AXDX) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.41 and traded as low as $0.70. Accelerate Diagnostics shares last traded at $0.71, with a volume of 60,166 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com started coverage on shares of Accelerate Diagnostics in a research report on Wednesday. They set a “hold” rating on the stock. BTIG Research upgraded Accelerate Diagnostics to a “strong-buy” rating in a report on Wednesday, December 11th.

Accelerate Diagnostics Stock Up 0.7 %

The firm has a market cap of $17.80 million, a P/E ratio of -0.25 and a beta of 0.55. The business has a fifty day simple moving average of $1.13 and a 200-day simple moving average of $1.41.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings results on Thursday, March 20th. The medical research company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.13. The business had revenue of $2.82 million during the quarter, compared to the consensus estimate of $3.00 million. On average, sell-side analysts anticipate that Accelerate Diagnostics, Inc. will post -2.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Accelerate Diagnostics

Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in Accelerate Diagnostics by 160.6% during the 4th quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock valued at $128,000 after buying an additional 65,984 shares in the last quarter. Jane Street Group LLC bought a new stake in Accelerate Diagnostics in the fourth quarter worth $27,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Accelerate Diagnostics in the third quarter worth $34,000. Finally, Geode Capital Management LLC increased its holdings in shares of Accelerate Diagnostics by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock valued at $163,000 after acquiring an additional 8,777 shares in the last quarter. 17.14% of the stock is currently owned by hedge funds and other institutional investors.

Accelerate Diagnostics Company Profile

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. The company offers Accelerate Pheno system, an in vitro diagnostic platform for the identification and antibiotic susceptibility testing of pathogens associated with serious or health care-associated infections, including gram-positive and gram-negative organisms.