Ascendiant Capital Markets Issues Pessimistic Forecast for LiqTech International (NASDAQ:LIQT) Stock Price

LiqTech International (NASDAQ:LIQT) had its target price dropped by Ascendiant Capital Markets from $4.40 to $1.30 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Ascendiant Capital Markets’ target price suggests a potential upside of 128.51% from the company’s previous close.

Several other brokerages also recently weighed in on LIQT. Zacks Research raised LiqTech International from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Weiss Ratings downgraded LiqTech International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $1.30.

LiqTech International Price Performance

LIQT opened at $0.57 on Friday. The company has a quick ratio of 3.43, a current ratio of 4.37 and a debt-to-equity ratio of 0.09. LiqTech International has a 52-week low of $0.52 and a 52-week high of $3.35. The company has a 50 day moving average of $0.67 and a two-hundred day moving average of $1.28. The company has a market cap of $18.75 million, a P/E ratio of -0.68 and a beta of 1.06.

LiqTech International (NASDAQ:LIQT) last posted its earnings results on Wednesday, August 12th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. LiqTech International had a negative net margin of 63.18% and a negative return on equity of 69.03%. The business had revenue of $4.36 million for the quarter, compared to analyst estimates of $6.00 million. On average, analysts expect that LiqTech International will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On LiqTech International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. StoneX Group Inc. acquired a new position in LiqTech International in the 4th quarter worth $42,000. Clear Harbor Asset Management LLC purchased a new position in LiqTech International in the 2nd quarter valued at about $52,000. Cable Car Capital LP acquired a new stake in shares of LiqTech International during the second quarter valued at about $849,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of LiqTech International during the second quarter valued at about $1,698,000. Hedge funds and other institutional investors own 35.06% of the company’s stock.

About LiqTech International

LiqTech International, Inc develops and manufactures advanced ceramic filtration systems that leverage proprietary silicon carbide (SiC) membranes to remove particulates and hydrophobic contaminants from a variety of fluid streams. The company’s core products include tubular ceramic membrane modules and complete filtration skids designed for applications where high chemical resistance, thermal stability and mechanical strength are required.

Their filtration solutions are utilized across multiple industries, including municipal and industrial water treatment, desalination pretreatment, produced water management in oil and gas operations, and process water recycling in power generation and chemical processing.