StockNews.com Initiates Coverage on Cytosorbents (NASDAQ:CTSO)

StockNews.com began coverage on shares of Cytosorbents (NASDAQ:CTSO) in a report published on Saturday morning. The firm issued a hold rating on the medical research company’s stock.

Several other equities analysts have also recently issued reports on the company. HC Wainwright reissued a “neutral” rating and issued a $1.00 price objective on shares of Cytosorbents in a report on Wednesday, August 14th. EF Hutton Acquisition Co. I raised Cytosorbents to a “strong-buy” rating in a report on Monday, July 29th.

Cytosorbents Trading Down 1.0 %

Shares of CTSO stock opened at $1.00 on Friday. The business has a 50-day simple moving average of $1.15 and a 200-day simple moving average of $1.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.12 and a quick ratio of 1.71. Cytosorbents has a 52-week low of $0.70 and a 52-week high of $2.15.

Cytosorbents (NASDAQ:CTSO) last issued its quarterly earnings data on Tuesday, August 13th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The business had revenue of $9.89 million during the quarter, compared to analysts’ expectations of $9.73 million. Cytosorbents had a negative return on equity of 131.84% and a negative net margin of 68.70%. During the same quarter in the previous year, the firm posted ($0.14) EPS. Research analysts predict that Cytosorbents will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On Cytosorbents

Large investors have recently bought and sold shares of the business. Atomi Financial Group Inc. acquired a new position in Cytosorbents in the 3rd quarter worth about $51,000. CM Management LLC raised its holdings in Cytosorbents by 3.0% in the 2nd quarter. CM Management LLC now owns 850,000 shares of the medical research company’s stock worth $598,000 after purchasing an additional 25,000 shares during the period. Sargent Investment Group LLC raised its holdings in Cytosorbents by 4.9% in the 2nd quarter. Sargent Investment Group LLC now owns 1,433,500 shares of the medical research company’s stock worth $1,008,000 after purchasing an additional 67,181 shares during the period. Finally, Avenir Corp raised its holdings in shares of Cytosorbents by 4.0% during the first quarter. Avenir Corp now owns 3,172,696 shares of the medical research company’s stock valued at $3,014,000 after acquiring an additional 121,294 shares during the last quarter. Institutional investors and hedge funds own 32.87% of the company’s stock.

Cytosorbents Company Profile

Cytosorbents Corporation engages in the research, development, and commercialization of medical devices with its blood purification technology platform incorporating a proprietary adsorbent and porous polymer technology in the United States, Germany, and internationally. Its flagship product is CytoSorb, an extracorporeal cytokine adsorber for adjunctive therapy in the treatment of sepsis, adjunctive therapy in other critical care applications, prevention, and treatment of perioperative complications, and maintaining or enhancing the quality of solid organs harvested from donors for organ transplant; and offers VetResQ, a device for adjunctive therapy in the treatment of sepsis, pancreatitis, and other critical illnesses in animals.