The short interest for Berkeley Lights, Inc. dramatically decreased in November (NASDAQ: BLI). As of November 15, there were 2,300,000 shares short, a 10.9% decrease from 2,580,000 shares on October 31. Currently, 4.1% of the stock is being sold short. Based on an average daily volume of 850,800 shares, the short-interest ratio is currently 2.7 days.
On Tuesday, November 8, Berkeley Lights (NASDAQ: BLI) released its most recent quarterly results.
The company’s quarterly earnings per share ($0.32) fell short of analysts’ consensus expectations ($0.27) by $0.02. The company’s revenue for the quarter was $21.40 million, as opposed to analysts’ predictions of $21.66 million. Berkeley Lights had a 103.11% negative profit margin and a 47.12% negative return on equity. Analysts forecast that Berkeley Lights will make -1.27 cents per share this year.
On Friday, the NASDAQ: BLI rose $0.09 to $3.15.The company’s trading volume was 522,853 shares as opposed to its average 848,973 shares. With a debt-to-equity ratio of 0.11, a quick ratio of 4.81, a current ratio of 5.26, and 50-day and 200-day moving averages of the stock of $2.67 and $3.89, respectively, the firm has a low debt-to-equity ratio. The market value of the shares is $216,000,000. Its beta is 1.53, and its P/E ratio is -2.46. The cost of Berkeley Lights ranges from $1.83 to $21.69 per year.
A few institutional investors recently modified the amount of BLI they were holding. Federated Hermes Inc. grew its stake in Berkeley Lights by 1,261.9% during the first quarter. Federated Hermes Inc. now owns 2,043,988 shares worth $14,533,000 after acquiring an additional 1,893,899 shares in the last quarter. Nierenberg Investment Management Company Inc. grew its stake in Berkeley Lights by 162.5% during the third quarter. In comparison to three months ago, Nierenberg Investment Management Company Inc. now owns 1,276,411 more company shares, worth $5,897,000. Glenview Capital Management LLC increased its holding in Berkeley Lights by around $8,485,000 during the first quarter. Mackenzie Financial Corp. boosted its stake in Berkeley Lights by 38.2% during the first quarter. Mackenzie Financial Corp. now directly owns 4,201,452 shares valued at $29,872,000 after acquiring an additional 1,161,295 shares in the most recent quarter.
Last but not least, Jacobs Levy Equity Management Inc. grew its stake in Berkeley Lights by 128.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,385,054 shares, valued at $3,961,000, after acquiring an additional 778,043 shares in the most recent quarter. Institutional investors and hedge funds own 69.67% of the company’s stock.
Several analysts recently shared their thoughts on the stock of BLI. Berkeley Lights’ price objective was lowered from $10.00 to $5.00 by Morgan Stanley in a research note released on August 10, and the stock’s rating was reduced from “equal weight” to “underweight.” JPMorgan Chase & Co. lowered their price objective from $12.00 to $8.00 and downgraded Berkeley Lights stock from “overweight” to “neutral” in a research note released on Wednesday, August 10. In a research note published on Wednesday, August 10, BTIG Research last revised its recommendation on Berkeley Lights’ stock from “buy” to “neutral.” Two equities research analysts have assigned the stock a sell rating, while three have given the company a hold recommendation. According to Bloomberg, the company now has a consensus “Hold” rating and a target price of $12.50.
Business of digital cell biology Berkeley Lights, Inc. is dedicated to accelerating the development of cell-based products and other biotherapeutics, as well as the speedy commercialization of these products. In addition to patented consumables like OptoSelect chips and reagent kits, the company offers a complete platform of automation systems, application and workflow software, special hardware, and other components.