Could Cytosorbents Corporation (CTSO) See a Reversal After Having Formed Several Months Bullish Wedge Up Pattern

December 7, 2017 - By Nellie Frank

Investors sentiment decreased to 0.73 in Q2 2017. Its down 2.41, from 3.14 in 2017Q1. It dived, as 4 investors sold Cytosorbents Corporation shares while 11 reduced holdings. 3 funds opened positions while 8 raised stakes. 1.87 million shares or 55.22% less from 4.19 million shares in 2017Q1 were reported.
452,056 are held by Vanguard Gp. Private Advisor Gru has invested 0% in Cytosorbents Corporation (NASDAQ:CTSO). Bancshares Of Mellon invested 0% in Cytosorbents Corporation (NASDAQ:CTSO). California Pub Employees Retirement System holds 0% or 46,100 shares in its portfolio. Glenmede Tru Na holds 0% or 19,008 shares in its portfolio. The Wisconsin-based Skylands Cap Limited Liability Company has invested 0.35% in Cytosorbents Corporation (NASDAQ:CTSO). Moreover, Manufacturers Life The has 0% invested in Cytosorbents Corporation (NASDAQ:CTSO). Aviance Mgmt Ltd Liability Corp stated it has 0% in Cytosorbents Corporation (NASDAQ:CTSO). Creative Planning holds 6,200 shares. Morgan Stanley invested 0% of its portfolio in Cytosorbents Corporation (NASDAQ:CTSO). National Bank & Trust Of America De accumulated 200 shares. Geode Cap Mgmt Limited Company accumulated 0% or 127,125 shares. Northern reported 36,840 shares. Sabby Mngmt Ltd Liability holds 172,100 shares. Royal Bancorporation Of Canada accumulated 1,800 shares or 0% of the stock.

The stock of Cytosorbents Corporation (CTSO) formed an up wedge with $7.36 target or 9.00 % above today’s $6.75 share price. The 5 months wedge indicates low risk for the $193.67 million company. If the $7.36 price target is reached, the company will be worth $17.43M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.37% or $0.03 during the last trading session, reaching $6.75. About 69,790 shares traded. Cytosorbents Corporation (NASDAQ:CTSO) has declined 4.26% since December 8, 2016 and is downtrending. It has underperformed by 20.96% the S&P500.

Analysts await Cytosorbents Corporation (NASDAQ:CTSO) to report earnings on March, 2. They expect $-0.12 earnings per share, up 25.00 % or $0.04 from last year’s $-0.16 per share. After $-0.07 actual earnings per share reported by Cytosorbents Corporation for the previous quarter, Wall Street now forecasts 71.43 % negative EPS growth.

Cytosorbents Corporation (NASDAQ:CTSO) Ratings Coverage

Among 7 analysts covering CytoSorbents (NASDAQ:CTSO), 7 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. CytoSorbents had 12 analyst reports since October 29, 2015 according to SRatingsIntel. As per Friday, October 7, the company rating was initiated by B. Riley & Co. Aegis Capital maintained it with “Buy” rating and $900 target in Tuesday, May 30 report. Aegis Capital initiated the stock with “Buy” rating in Wednesday, October 26 report. The stock of Cytosorbents Corporation (NASDAQ:CTSO) has “Buy” rating given on Tuesday, September 26 by H.C. Wainwright. The rating was initiated by Maxim Group on Tuesday, May 24 with “Buy”. The firm has “Buy” rating by WBB Securities given on Thursday, October 29. On Monday, July 17 the stock rating was maintained by Maxim Group with “Buy”. Maxim Group maintained the stock with “Buy” rating in Wednesday, July 5 report. The rating was maintained by Maxim Group on Tuesday, August 8 with “Buy”.

More notable recent Cytosorbents Corporation (NASDAQ:CTSO) news were published by: Prnewswire.com which released: “Dr. Eric R. Mortensen, MD, Ph.D., Clinical Trial Veteran, Joins CytoSorbents …” on May 30, 2017, also Seekingalpha.com with their article: “Cytosorbents: A Razor & Razor Blade Story” published on June 28, 2017, Prnewswire.com published: “CytoSorbents to Report Q2 2017 Operating and Financial Results” on August 01, 2017. More interesting news about Cytosorbents Corporation (NASDAQ:CTSO) were released by: Seekingalpha.com and their article: “CytoSorbents’ (CTSO) CEO Dr. Phillip Chan on Q2 2017 Results – Earnings Call …” published on August 08, 2017 as well as Seekingalpha.com‘s news article titled: “Why CytoSorbents And Spectral Medical Inc Are Not Good Stocks For A Long Position” with publication date: August 04, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.