Shares of Berkeley Lights, Inc. (NASDAQ:BLI – Get Rating) have earned a consensus rating of "Hold" from the six research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $16.75.
BLI has been the subject of several recent analyst reports. BTIG Research cut Berkeley Lights from a "buy" rating to a "neutral" rating in a research report on Wednesday, August 10th. Morgan Stanley lowered shares of Berkeley Lights from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $10.00 to $5.00 in a report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. downgraded shares of Berkeley Lights from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $12.00 to $8.00 in a report on Wednesday, August 10th.
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Hedge Funds Weigh In On Berkeley Lights
Several institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. grew its stake in shares of Berkeley Lights by 1,261.9% during the first quarter. Federated Hermes Inc. now owns 2,043,988 shares of the company's stock valued at $14,533,000 after buying an additional 1,893,899 shares during the last quarter. Invesco Ltd. lifted its position in Berkeley Lights by 89.4% in the fourth quarter. Invesco Ltd. now owns 2,801,178 shares of the company's stock valued at $50,926,000 after purchasing an additional 1,322,395 shares during the last quarter. Glenview Capital Management LLC bought a new position in shares of Berkeley Lights in the first quarter worth approximately $8,485,000. Mackenzie Financial Corp increased its stake in shares of Berkeley Lights by 38.2% in the first quarter. Mackenzie Financial Corp now owns 4,201,452 shares of the company's stock worth $29,872,000 after buying an additional 1,161,295 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Berkeley Lights by 21.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,735,030 shares of the company's stock valued at $31,544,000 after buying an additional 306,859 shares during the last quarter. Institutional investors own 69.67% of the company's stock.
Berkeley Lights Stock Down 4.1 %
Shares of NASDAQ:BLI opened at $3.54 on Friday. The business's 50 day moving average is $4.72 and its 200 day moving average is $5.43. Berkeley Lights has a 12-month low of $3.50 and a 12-month high of $37.86. The stock has a market cap of $241.73 million, a price-to-earnings ratio of -2.81 and a beta of 1.59. The company has a quick ratio of 6.07, a current ratio of 6.61 and a debt-to-equity ratio of 0.11.
Berkeley Lights (NASDAQ:BLI – Get Rating) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.06). The company had revenue of $19.15 million for the quarter, compared to analysts' expectations of $20.82 million. Berkeley Lights had a negative return on equity of 42.87% and a negative net margin of 98.21%. The company's revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.27) EPS. On average, sell-side analysts forecast that Berkeley Lights will post -1.23 earnings per share for the current fiscal year.
About Berkeley Lights
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Berkeley Lights, Inc, a digital cell biology company, focuses on enabling and accelerating the rapid development and commercialization of biotherapeutics and other cell-based products. The company offers an integrated platform, which comprise of proprietary consumables, including OptoSelect chips and reagent kits, automation systems, and application and workflow software.
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