Check Out Berkeley Lights Inc. (BLI)’s Trade Data Rather Than the Analysts’ Views

With 1.18 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.04 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $2.3200 whereas the lowest price it dropped to was $2.2050. The 52-week range on BLI shows that it touched its highest point at $10.29 and its lowest point at $1.83 during that stretch. It currently has a 1-year price target of $10.25.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BLI was down-trending over the past week, with a drop of -10.08%, but this was down by -2.19% over a month. Three-month performance surged to 10.40% while six-month performance fell -50.66%. The stock lost -75.76% in the past year, while it has lost -16.79% so far this year. A look at the trailing 12-month EPS for BLI yields -1.27 with Next year EPS estimates of -0.93. For the next quarter, that number is -0.27. This implies an EPS growth rate of -60.10% for this year and 24.40% for next year.

Float and Shares Shorts:

At present, 68.38 million BLI shares are outstanding with a float of 58.15 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.19 million, which was 4.67% higher than short shares on Sep 14, 2022. In addition to Dr. Siddhartha Chandrakant Kadia B.E., M.S., Ph.D. as the firm’s CEO & Director, Dr. Eric D. Hobbs Ph.D. serves as its Pres of Global Operations.

Institutional Ownership:

Through their ownership of 68.69% of BLI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 41.50% of BLI, in contrast to 38.14% held by mutual funds. Shares owned by individuals account for 31.78%. As the largest shareholder in BLI with 7.94% of the stake, ARK Investment Management LLC holds 5,468,825 shares worth 5,468,825. A second-largest stockholder of BLI, Mackenzie Financial Corp., holds 4,181,173 shares, controlling over 6.07% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in BLI, holding 3,932,690 shares or 5.71% stake. With a 4.00% stake in BLI, the ARK Genomic Revolution ETF is the largest stakeholder. A total of 2,753,496 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.99% of BLI stock, is the second-largest Mutual Fund holder. It holds 2,057,763 shares valued at 5.51 million. Swedbank Robur Globalfond holds 2.64% of the stake in BLI, owning 1,820,000 shares worth 4.88 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BLI since 7 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BLI analysts setting a high price target of $18.00 and a low target of $5.00, the average target price over the next 12 months is $10.25. Based on these targets, BLI could surge 707.17% to reach the target high and rise by 124.22% to reach the target low. Reaching the average price target will result in a growth of 359.64% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BLI will report FY 2022 earnings on 02/22/2024. Analysts have provided yearly estimates in a range of -$0.99 being high and -$1.35 being low. For BLI, this leads to a yearly average estimate of -$1.23. The surprise factor in the prior quarter was -$0.06. Based on analyst estimates, the high estimate for the next quarter is -$0.17 and the low estimate is -$0.34. The average estimate for the next quarter is thus -$0.27.

Summary of Insider Activity:

Insiders traded BLI stock several times over the past three months with 0 Buys and 10 Sells. In these transactions, 0 shares were bought while 68,329 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 36 over the past year. The total number of shares bought during that period was 2,225,085 while 406,058 shares were sold.

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