A company insider recently sold 8,555 shares of PolarityTE Inc. [PTE]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. PolarityTE Inc. shares valued at $10,946 were sold by COHEN PETER A on Aug 17. At $1.28 per share, COHEN PETER A sold 8,555 shares. The insider’s holdings dropped to 7,243 shares worth approximately $6084.12 following the completion of this transaction.


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Also, COHEN PETER A sold 15,106 shares, netting a total of over 20,023 in proceeds. Following the sale of shares at $1.33 each, the insider now holds 757,515 shares.

Before that, Seaburg David B had sold 31,037 shares from its account. In a trade valued at $17,188, the Director traded PolarityTE Inc. shares for $0.55 each. Upon closing the transaction, the insider’s holdings decreased to 31,037 shares, worth approximately $1.12 million.

As published in a research note from Oppenheimer on May 01, 2020, PolarityTE Inc. [PTE] has been rated down from an Outperform to a Perform. As of July 08, 2019, H.C. Wainwright has initiated its “Buy” rating for PTE. Earlier on March 21, 2019, Evercore ISI initiated its rating. Their recommendation was “an Outperform” for PTE stock.

Analyzing PTE’s Price Performance

On Thursday, PolarityTE Inc. [NASDAQ: PTE] plunged -3.45% to $0.84. The stock’s lowest price that day was $0.82, but it reached a high of $1.09 in the same session. During the last five days, there has been a drop of approximately -9.95%. Over the course of the year, PolarityTE Inc. shares have dropped approximately -94.28%. Shares of the company reached a 52-week high of $20.7500 on 01/18/22 and a 52-week low of $0.8131 on 09/20/22. A 50-day SMA is recorded $1.2209, while a 200-day SMA reached $6.0655. Nevertheless, trading volume fell to 1.68 million shares from 28900.0 shares the previous day.

Support And Resistance Levels for PolarityTE Inc. (PTE)

According to the 24-hour chart, there is a support level at 0.7433, which, if violated, would cause prices to drop to 0.6467. In the upper region, resistance lies at 1.0133. The next price resistance is at 1.1867. RSI (Relative Strength Index) is 33.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0561, which suggests the price will decrease in the coming days. Percent R is at 90.29%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is PolarityTE Inc. subject to short interest?

Stocks of PolarityTE Inc. saw a sharp rise in short interest on Aug 30, 2022 jumping by 72770.0 shares to 0.18 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 0.11 million shares. A jump of 40.82% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 0.42 of the overall float, the days-to-cover ratio (short ratio) jumped to 0.42.

Which companies own the most shares of PolarityTE Inc. (PTE)?

According to Armistice Capital LLC filings, the company currently owns 140,163 shares, which is about 2.11% of the total PTE shares outstanding. The investor’s shares have plunged by -198,311 from its previous 13-F filing of 338474.0 shares. With the completion of the buy transaction, Renaissance Technologies LLC’s stake is now worth $44,188. BlackRock Fund Advisors acquire a 3.36% interest valued at $37251.0 while Millennium Management LLC purchased a 29,020 stake. A total of -78,333 shares of PolarityTE Inc. were bought by The Vanguard Group, Inc. during the quarter, and 2 were bought by Geode Capital Management LLC. In its current portfolio, Citadel Advisors LLC holds 23,792 shares valued at $24268.0.

In terms of PolarityTE Inc. share price expectations, FactSet research, analysts set an average price target of $2.00 in the next 12 months, up nearly 129.89% from the previous closing price of $0.87. Analysts anticipate PolarityTE Inc. stock to reach $2.00 by 2022, with the lowest price target being $2.00. In spite of this, 2 analysts ranked PolarityTE Inc. stock as an Overweight at the end of 2022. On January 28, 2019, Northland Capital assigned a price target of “an Outperform” to the stock and initiated coverage with a $50.

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