Cytek Biosciences Inc. (NASDAQ: CTKB) stock fell -0.85% on Friday to $7.00 against a previous-day closing price of $7.06. With 5.29 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.81 million shares. The 52-week range on CTKB shows that it touched its highest point at $15.90 and its lowest point at $6.45 during that stretch. It currently has a 1-year price target of $14.00. Beta for the stock currently stands at 0.46.
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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 CTKB was up-trending over the past week, with a rise of 1.89%, but this was down by -16.22% over a month. Three-month performance dropped to -19.35% while six-month performance fell -26.78%. The stock lost -50.81% in the past year, while it has lost -31.44% so far this year. A look at the trailing 12-month EPS for CTKB yields -0.05 with Next year EPS estimates of 0.22. For the next quarter, that number is 0.02. This implies an EPS growth rate of -20.00% for this year and 77.87% for next year.
Float and Shares Shorts:
At present, 135.92 million CTKB shares are outstanding with a float of 120.69 million shares on hand for trading. On Aug 30, 2023, short shares totaled 11.82 million, which was 8.67% higher than short shares on Jul 30, 2023. In addition to Dr. Wenbin Jiang Ph.D. as the firm’s Pres, CEO & Chairman, Dr. Ming Yan Ph.D. serves as its CTO & Director.
Institutional Ownership:
Through their ownership of 55.20% of CTKB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 28.19% of CTKB, in contrast to 28.13% held by mutual funds. Shares owned by individuals account for 21.27%. As the largest shareholder in CTKB with 10.35% of the stake, BlackRock Fund Advisors holds 14,111,317 shares worth 14,111,317. A second-largest stockholder of CTKB, RA Capital Management LP, holds 12,297,721 shares, controlling over 9.02% of the firm’s shares. Brown Capital Management LLC is the third largest shareholder in CTKB, holding 10,731,683 shares or 7.87% stake. With a 4.15% stake in CTKB, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,661,678 shares are owned by the mutual fund manager. The Brown Capital Management – Small, which owns about 3.98% of CTKB stock, is the second-largest Mutual Fund holder. It holds 5,426,165 shares valued at 41.24 million. Vanguard Total Stock Market ETF holds 2.41% of the stake in CTKB, owning 3,288,520 shares worth 24.99 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, CTKB reported revenue of $40.16M and operating income of -$891.00k. The EBITDA in the recently reported quarter was $800.00k and diluted EPS was -$0.00.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CTKB since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CTKB analysts setting a high price target of $17.00 and a low target of $11.00, the average target price over the next 12 months is $14.00. Based on these targets, CTKB could surge 142.86% to reach the target high and rise by 57.14% to reach the target low. Reaching the average price target will result in a growth of 100.0% 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.
Summary of Insider Activity:
Insiders traded CTKB stock several times over the past three months with 14 Buys and 19 Sells. In these transactions, 50,938 shares were bought while 120,665 shares were sold. The number of buy transactions has increased to 40 while that of sell transactions has risen to 73 over the past year. The total number of shares bought during that period was 160,424 while 544,753 shares were sold.
