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Berkeley Lights, Inc. (NASDAQ:BLI) Sees Large Increase in Short Interest

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Berkeley Lights, Inc. (NASDAQ:BLI – Get Rating) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 3,790,000 shares, a growth of 9.5% from the August 15th total of 3,460,000 shares. Based on an average daily volume of 818,400 shares, the short-interest ratio is presently 4.6 days. Approximately 7.0% of the company's shares are short sold.

Institutional Investors Weigh In On Berkeley Lights

A number of institutional investors have recently made changes to their positions in BLI. Federated Hermes Inc. increased its holdings in shares of Berkeley Lights by 1,261.9% in the 1st quarter. Federated Hermes Inc. now owns 2,043,988 shares of the company's stock valued at $14,533,000 after acquiring an additional 1,893,899 shares during the last quarter. Invesco Ltd. grew its stake in Berkeley Lights by 89.4% during the 4th quarter. Invesco Ltd. now owns 2,801,178 shares of the company's stock worth $50,926,000 after buying an additional 1,322,395 shares during the last quarter. Glenview Capital Management LLC bought a new position in Berkeley Lights during the 1st quarter worth $8,485,000. Mackenzie Financial Corp grew its stake in Berkeley Lights by 38.2% during the 1st 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 last quarter. Finally, JPMorgan Chase & Co. grew its stake in Berkeley Lights by 21.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,735,030 shares of the company's stock worth $31,544,000 after buying an additional 306,859 shares during the last quarter. 69.67% of the stock is currently owned by institutional investors.

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Berkeley Lights Stock Down 5.4 %

Shares of BLI traded down $0.19 during trading on Monday, reaching $3.30. The company's stock had a trading volume of 21,494 shares, compared to its average volume of 1,204,958. The company has a fifty day moving average of $4.35 and a two-hundred day moving average of $5.14. Berkeley Lights has a twelve month low of $3.33 and a twelve month high of $27.18. The company has a market cap of $225.34 million, a price-to-earnings ratio of -2.58 and a beta of 1.60. 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 announced 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). Berkeley Lights had a negative net margin of 98.21% and a negative return on equity of 42.87%. The business had revenue of $19.15 million during the quarter, compared to analyst estimates of $20.82 million. During the same period in the previous year, the company earned ($0.27) earnings per share. The business's revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts predict that Berkeley Lights will post -1.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BTIG Research lowered Berkeley Lights from a "buy" rating to a "neutral" rating in a research note on Wednesday, August 10th. JPMorgan Chase & Co. lowered Berkeley Lights from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $12.00 to $8.00 in a research report on Wednesday, August 10th. Finally, Morgan Stanley lowered Berkeley Lights from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $10.00 to $5.00 in a research report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Berkeley Lights has a consensus rating of "Hold" and an average target price of $18.40.

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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