Shares of Berkeley Lights, Inc. (NASDAQ:BLI – Get Rating) have received a consensus recommendation of "Hold" from the six brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $16.75.
A number of research analysts have weighed in on BLI shares. Morgan Stanley cut shares of Berkeley Lights from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $10.00 to $5.00 in a report on Wednesday, August 10th. JPMorgan Chase & Co. cut shares of Berkeley Lights from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $12.00 to $8.00 in a report on Wednesday, August 10th. Finally, BTIG Research cut shares of Berkeley Lights from a "buy" rating to a "neutral" rating in a research note on Wednesday, August 10th.
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Institutional Investors Weigh In On Berkeley Lights
A number of large investors have recently made changes to their positions in BLI. Federated Hermes Inc. grew its position in Berkeley Lights by 1,261.9% in the first quarter. Federated Hermes Inc. now owns 2,043,988 shares of the company's stock worth $14,533,000 after acquiring an additional 1,893,899 shares during the period. Invesco Ltd. grew 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 worth $50,926,000 after acquiring an additional 1,322,395 shares during the period. Glenview Capital Management LLC purchased a new position in Berkeley Lights in the first quarter worth approximately $8,485,000. Mackenzie Financial Corp grew its position in 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 acquiring an additional 1,161,295 shares during the period. Finally, ARK Investment Management LLC lifted its stake in Berkeley Lights by 3.7% during the first quarter. ARK Investment Management LLC now owns 8,301,339 shares of the company's stock worth $59,023,000 after purchasing an additional 294,904 shares in the last quarter. 69.67% of the stock is currently owned by hedge funds and other institutional investors.
Berkeley Lights Trading Down 1.4 %
NASDAQ BLI opened at $2.86 on Thursday. The company has a market capitalization of $195.28 million, a PE ratio of -2.27 and a beta of 1.60. The company has a fifty day moving average of $4.02 and a 200 day moving average of $4.95. Berkeley Lights has a 1 year low of $2.81 and a 1 year high of $26.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.61 and a quick ratio of 6.07.
Berkeley Lights (NASDAQ:BLI – Get Rating) last posted its earnings results on Tuesday, August 9th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.08). The business had revenue of $19.15 million for the quarter, compared to analyst estimates of $20.82 million. Berkeley Lights had a negative net margin of 98.21% and a negative return on equity of 42.87%. The company's revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. Research analysts forecast that Berkeley Lights will post -1.23 earnings per share for the current 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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