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

StockNews.com assumed coverage on shares of Cytosorbents (NASDAQ:CTSO) in a research report sent to investors on Sunday morning. The firm issued a hold rating on the medical research company’s stock.

Several other research firms have also weighed in on CTSO. EF Hutton Acquisition Co. I upgraded Cytosorbents to a “strong-buy” rating in a report on Monday, July 29th. HC Wainwright restated a “neutral” rating and set a $1.00 target price on shares of Cytosorbents in a research note on Wednesday, August 14th.

Cytosorbents Stock Up 18.8 %

NASDAQ:CTSO traded up $0.14 during trading hours on Friday, hitting $0.88. 100,693 shares of the company’s stock traded hands, compared to its average volume of 123,526. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.71 and a current ratio of 2.12. Cytosorbents has a twelve month low of $0.70 and a twelve month high of $2.15. The stock’s fifty day moving average price is $1.13 and its two-hundred day moving average price is $1.01. The firm has a market cap of $47.84 million, a P/E ratio of -2.31 and a beta of 0.56.

Cytosorbents (NASDAQ:CTSO) last announced its earnings results on Tuesday, August 13th. The medical research company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. Cytosorbents had a negative return on equity of 108.52% and a negative net margin of 49.47%. The firm had revenue of $9.89 million during the quarter, compared to the consensus estimate of $9.73 million. During the same quarter in the prior year, the company earned ($0.14) EPS. On average, research analysts expect that Cytosorbents will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cytosorbents

Several hedge funds have recently added to or reduced their stakes in the stock. CM Management LLC raised its stake in shares of Cytosorbents by 98.8% in the first quarter. CM Management LLC now owns 825,000 shares of the medical research company’s stock worth $784,000 after buying an additional 410,000 shares during the period. Avenir Corp increased its stake in Cytosorbents by 4.0% in the 1st quarter. Avenir Corp now owns 3,172,696 shares of the medical research company’s stock worth $3,014,000 after acquiring an additional 121,294 shares during the last quarter. Sargent Investment Group LLC boosted its holdings in shares of 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, Atomi Financial Group Inc. bought a new stake in Cytosorbents during the 3rd quarter valued at $51,000. 32.87% of the stock is owned by institutional investors.

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.