Mesa Laboratories (NASDAQ:MLAB) Share Price Crosses Above 200-Day Moving Average – Time to Sell?
by Michael Walen · The Markets DailyMesa Laboratories, Inc. (NASDAQ:MLAB – Get Free Report)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $78.16 and traded as high as $79.91. Mesa Laboratories shares last traded at $77.77, with a volume of 82,088 shares changing hands.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on MLAB shares. Wall Street Zen upgraded shares of Mesa Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research raised Mesa Laboratories to a “strong sell” rating in a research note on Thursday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Mesa Laboratories in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Sell” and an average target price of $67.00.
Check Out Our Latest Analysis on Mesa Laboratories
Mesa Laboratories Stock Performance
The company has a market cap of $429.29 million, a PE ratio of -243.03 and a beta of 0.90. The stock’s 50 day simple moving average is $75.50 and its two-hundred day simple moving average is $77.92. The company has a quick ratio of 1.44, a current ratio of 2.02 and a debt-to-equity ratio of 0.95.
Mesa Laboratories Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $0.16 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.64 dividend on an annualized basis and a yield of 0.8%. Mesa Laboratories’s dividend payout ratio (DPR) is presently -200.00%.
Hedge Funds Weigh In On Mesa Laboratories
Large investors have recently modified their holdings of the company. Tudor Investment Corp ET AL lifted its stake in shares of Mesa Laboratories by 50.9% in the 3rd quarter. Tudor Investment Corp ET AL now owns 6,341 shares of the medical instruments supplier’s stock valued at $425,000 after purchasing an additional 2,139 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Mesa Laboratories during the third quarter valued at approximately $258,000. Qube Research & Technologies Ltd grew its stake in Mesa Laboratories by 54.4% during the third quarter. Qube Research & Technologies Ltd now owns 30,725 shares of the medical instruments supplier’s stock worth $2,059,000 after buying an additional 10,827 shares during the period. Numerai GP LLC purchased a new stake in Mesa Laboratories during the third quarter worth approximately $242,000. Finally, Mason Capital Management LLC acquired a new stake in shares of Mesa Laboratories in the third quarter worth $4,711,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.
About Mesa Laboratories
Mesa Laboratories, Inc develops, designs, manufactures, sells, and services life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. The Sterilization and Disinfection Control segment offers biological, chemical, and cleaning indicators, used to assess the effectiveness of sterilization decontamination, disinfection, and cleaning processes in the pharmaceutical, medical device, and healthcare industries.
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