Today, Brokerages give average Rating of “Buy” to TearLab Corp. (TEAR)

Today, Brokerages give average Rating of “Buy” to TearLab Corp. (TEAR)

Shares of TearLab Corp. (NASDAQ:TEAR) have earned a consensus recommendation of “Buy” from the six brokerages that are covering the stock. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $2.00.

A number of analysts have weighed in on the stock. HC Wainwright set a $2.00 price objective on shares of TearLab Corp. and gave the company a “buy” rating in a research note on Monday, October 24th. Zacks Investment Research upgraded shares of TearLab Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. Rodman & Renshaw restated a “buy” rating and set a $2.00 price objective on shares of TearLab Corp. in a research note on Saturday, October 15th. Finally, Roth Capital lowered shares of TearLab Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, August 4th.

Hedge funds have recently made changes to their positions in the company. AWM Investment Company Inc. raised its stake in shares of TearLab Corp. by 37.9% in the third quarter. AWM Investment Company Inc. now owns 7,277,250 shares of the company’s stock worth $4,730,000 after buying an additional 2,000,000 shares in the last quarter. Perkins Capital Management Inc. raised its stake in shares of TearLab Corp. by 5.3% in the third quarter. Perkins Capital Management Inc. now owns 1,848,242 shares of the company’s stock worth $1,201,000 after buying an additional 93,000 shares in the last quarter. First Light Asset Management LLC raised its stake in shares of 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 in the last quarter. Sabby Management LLC bought a new stake in shares of TearLab Corp. during the second quarter worth approximately $1,205,000. Finally, Vanguard Group Inc. raised its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 38.14% of the company’s stock.

TearLab Corp. (NASDAQ:TEAR) traded up 1.6667% on Friday, reaching $0.5795. 16,784 shares of the company’s stock were exchanged. The company’s market cap is $31.06 million. TearLab Corp. has a 52-week low of $0.51 and a 52-week high of $1.75. The firm’s 50 day moving average price is $0.61 and its 200 day moving average price is $0.71.

TearLab Corp. (NASDAQ:TEAR) last issued its quarterly earnings results on Monday, November 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $20.90 million for the quarter, compared to analysts’ expectations of $7.13 million. During the same period last year, the business earned ($0.24) earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. On average, analysts expect that TearLab Corp. will post ($0.44) earnings per share for the current year.

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