Olink Holding AB (publ) (NASDAQ:OLK) Releases Earnings Results, Beats Estimates By $0.07 EPS

Olink Holding AB (publ) (NASDAQ:OLK) posted its quarterly earnings results on Wednesday. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.07, Briefing.com reports. Olink Holding AB (publ) had a negative net margin of 11.72% and a negative return on equity of 4.05%. The firm had revenue of $44.15 million for the quarter, compared to the consensus estimate of $42.62 million.

Olink Holding AB (publ) Stock Up 0.1 %

Olink Holding AB (publ) stock traded up $0.02 during midday trading on Friday, reaching $25.85. The stock had a trading volume of 1,437,385 shares, compared to its average volume of 520,862. Olink Holding AB has a 1-year low of $14.10 and a 1-year high of $26.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.84 and a current ratio of 7.41. The firm’s fifty day simple moving average is $19.52 and its 200-day simple moving average is $18.95. The stock has a market capitalization of $3.21 billion, a P/E ratio of -184.63 and a beta of 0.60.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OLK shares. Scotiabank reaffirmed a “sector perform” rating on shares of Olink Holding AB (publ) in a research note on Wednesday, October 18th. Leerink Partnrs cut shares of Olink Holding AB (publ) from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 17th. Finally, Morgan Stanley raised their price target on Olink Holding AB (publ) from $18.00 to $26.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.75.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Rock Springs Capital Management LP grew its position in shares of Olink Holding AB (publ) by 1.4% in the 3rd quarter. Rock Springs Capital Management LP now owns 1,676,500 shares of the company’s stock valued at $24,728,000 after acquiring an additional 22,500 shares during the period. Tower Research Capital LLC TRC bought a new position in Olink Holding AB (publ) during the third quarter worth about $76,000. Trexquant Investment LP increased its position in Olink Holding AB (publ) by 23.0% during the third quarter. Trexquant Investment LP now owns 33,156 shares of the company’s stock worth $489,000 after buying an additional 6,193 shares during the last quarter. New York State Common Retirement Fund increased its position in Olink Holding AB (publ) by 3.7% during the third quarter. New York State Common Retirement Fund now owns 67,166 shares of the company’s stock worth $991,000 after buying an additional 2,368 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in Olink Holding AB (publ) in the third quarter valued at approximately $232,000. 32.25% of the stock is owned by institutional investors and hedge funds.

About Olink Holding AB (publ)

Olink Holding AB (publ) provides various products and services for the academic, government, biopharmaceutical, biotechnology, service provider, and other institutions that focuses on life science research. The company's products include Olink Explore for cardiovascular and metabolic, oncology, neurology, or inflammation diseases; Olink Target product line; Olink Flex, a low-plex applications and use-cases; and Olink Focus product line that consists of custom developed solutions for customers that has identified various proteins of interest or a protein signature to focus on.