Berkeley Lights (NASDAQ:BLI) Issues FY 2021 Earnings Guidance

Berkeley Lights (NASDAQ:BLI) updated its FY 2021 earnings guidance on Tuesday. The company provided EPS guidance of $- for the period. The company issued revenue guidance of $90 million-100 million, compared to the consensus revenue estimate of $93.99 million.

Several research firms have weighed in on BLI. Zacks Investment Research lowered Berkeley Lights from a hold rating to a sell rating in a report on Wednesday, April 28th. Morgan Stanley dropped their price objective on Berkeley Lights from $80.00 to $73.00 and set an equal weight rating on the stock in a research note on Wednesday, May 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $90.80.

Shares of Berkeley Lights stock traded up $1.16 during trading on Friday, reaching $48.45. The company’s stock had a trading volume of 2,360 shares, compared to its average volume of 1,010,244. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.43 and a current ratio of 6.71. The stock has a fifty day moving average price of $45.82. The company has a market cap of $3.23 billion and a price-to-earnings ratio of -9.77. Berkeley Lights has a one year low of $35.51 and a one year high of $113.53.

Berkeley Lights (NASDAQ:BLI) last released its earnings results on Monday, May 10th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Berkeley Lights had a negative return on equity of 33.57% and a negative net margin of 70.27%. The firm had revenue of $18.60 million for the quarter, compared to analyst estimates of $16.76 million. Berkeley Lights’s revenue was up 34.8% compared to the same quarter last year. On average, equities research analysts anticipate that Berkeley Lights will post -0.89 EPS for the current fiscal year.

In related news, General Counsel Stuart L. Merkadeau sold 7,627 shares of the company’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $54.49, for a total value of $415,595.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Keith Breinlinger sold 8,250 shares of the company’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $44.46, for a total transaction of $366,795.00. Following the completion of the transaction, the insider now directly owns 29,756 shares of the company’s stock, valued at $1,322,951.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,447 shares of company stock worth $8,700,001. 20.30% of the stock is owned by company insiders.

Berkeley Lights Company Profile

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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Earnings History and Estimates for Berkeley Lights (NASDAQ:BLI)

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