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

Equities researchers at StockNews.com initiated coverage on shares of Cytosorbents (NASDAQ:CTSO) in a note issued to investors on Saturday. The brokerage set a “hold” rating on the medical research company’s stock.

CTSO has been the topic of a number of other research reports. EF Hutton Acquisition Co. I upgraded Cytosorbents to a “strong-buy” rating in a report on Monday, July 29th. HC Wainwright reaffirmed a “neutral” rating and set a $1.00 target price on shares of Cytosorbents in a research note on Wednesday, August 14th.

Cytosorbents Stock Performance

Shares of CTSO opened at $1.00 on Friday. The company has a 50-day moving average of $1.15 and a two-hundred day moving average of $1.01. The stock has a market cap of $54.43 million, a price-to-earnings ratio of -1.89 and a beta of 0.56. 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 one year low of $0.70 and a one year high of $2.15.

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

Institutional Trading of Cytosorbents

A number of institutional investors have recently bought and sold shares of the company. Atomi Financial Group Inc. acquired a new position in Cytosorbents in the 3rd quarter worth about $51,000. CM Management LLC raised its position in Cytosorbents by 3.0% during the second quarter. CM Management LLC now owns 850,000 shares of the medical research company’s stock valued at $598,000 after acquiring an additional 25,000 shares in the last quarter. Sargent Investment Group LLC raised its position in Cytosorbents by 4.9% during the second quarter. Sargent Investment Group LLC now owns 1,433,500 shares of the medical research company’s stock valued at $1,008,000 after acquiring an additional 67,181 shares in the last quarter. Finally, Avenir Corp lifted its stake in Cytosorbents by 4.0% in 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.

About Cytosorbents

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.