TearLab Corp.’s (TEAR) Buy Rating Reaffirmed at Rodman & Renshaw
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded TearLab Corp. from a sell rating to a hold rating in a research report on Thursday, September 22nd. Roth Capital cut TearLab Corp. from a buy rating to a neutral rating in a research report on Thursday, August 4th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $2.60.
Shares of TearLab Corp. (NASDAQ:TEAR) traded up 0.5645% during midday trading on Friday, reaching $0.6235. The company’s stock had a trading volume of 18,936 shares. The stock’s 50 day moving average price is $0.69 and its 200 day moving average price is $0.73. The firm’s market cap is $32.98 million. TearLab Corp. has a one year low of $0.58 and a one year high of $2.11.
TearLab Corp. (NASDAQ:TEAR) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.08). The business had revenue of $6.90 million for the quarter, compared to analyst estimates of $6.95 million. During the same quarter last year, the business earned ($0.24) earnings per share. TearLab Corp.’s revenue was up 8.8% on a year-over-year basis. Analysts predict that TearLab Corp. will post ($0.44) earnings per share for the current year.
A number of large investors have recently bought and sold shares of the company. AWM Investment Company Inc. acquired a new position in TearLab Corp. during the second quarter worth $3,377,000. First Light Asset Management LLC raised its position in TearLab Corp. by 0.4% in the second quarter. First Light Asset Management LLC now owns 3,760,430 shares of the company’s stock worth $2,407,000 after buying an additional 14,267 shares during the period. Sabby Management LLC acquired a new position in TearLab Corp. during the second quarter worth $1,205,000. Vanguard Group Inc. raised its position in TearLab Corp. by 0.4% in the second quarter. Vanguard Group Inc. now owns 825,984 shares of the company’s stock worth $528,000 after buying an additional 3,100 shares during the period. Finally, Perkins Capital Management Inc. raised its position in TearLab Corp. by 38.0% in the second quarter. Perkins Capital Management Inc. now owns 1,755,242 shares of the company’s stock worth $1,123,000 after buying an additional 483,500 shares during the period. Institutional investors own 38.50% of the company’s stock.
TearLab Corp. Company Profile
TearLab Corporation is an in-vitro diagnostic company. The Company has commercialized a tear testing platform, the TearLab Osmolarity System, which enables eye care practitioners to test for sensitive and specific biomarkers using nanoliters of tear film at the point-of-care. The Company, through its subsidiary TearLab Research, Inc, develops technologies to enable eye care practitioners to test a range of biomarkers (chemistries, metabolites, genes and proteins) at the point-of-care.
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