Berkeley Lights (NASDAQ:BLI) Sees Strong Trading Volume


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Berkeley Lights, Inc. (NASDAQ:BLI) saw an uptick in trading volume on Tuesday . 22,671 shares were traded during mid-day trading, a decline of 98% from the previous session’s volume of 1,197,086 shares.The stock last traded at $51.00 and had previously closed at $51.30.

A number of research firms recently weighed in on BLI. Stifel Nicolaus began coverage on shares of Berkeley Lights in a research report on Tuesday, January 26th. They issued a “buy” rating and a $105.00 price objective on the stock. Zacks Investment Research lowered shares of Berkeley Lights from a “buy” rating to a “hold” rating in a research report on Tuesday, February 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Berkeley Lights has a consensus rating of “Buy” and an average target price of $92.20.

The company has a debt-to-equity ratio of 0.05, a current ratio of 11.41 and a quick ratio of 10.87. The business has a fifty day simple moving average of $55.49 and a 200 day simple moving average of $78.85.

Berkeley Lights (NASDAQ:BLI) last released its earnings results on Thursday, February 25th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $21.75 million during the quarter, compared to analyst estimates of $18.84 million. Equities research analysts expect that Berkeley Lights, Inc. will post -1.2 EPS for the current year.

In other news, Director James Rothman sold 72,000 shares of Berkeley Lights stock in a transaction on Wednesday, March 3rd. The stock was sold at an average price of $60.20, for a total transaction of $4,334,400.00. Following the completion of the transaction, the director now owns 125,000 shares of the company’s stock, valued at approximately $7,525,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Hobbs sold 80,000 shares of Berkeley Lights stock in a transaction on Thursday, March 25th. The stock was sold at an average price of $45.24, for a total value of $3,619,200.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $3,393,000. The disclosure for this sale can be found here. Insiders have sold a total of 769,003 shares of company stock valued at $43,033,515 in the last ninety days.

Several large investors have recently added to or reduced their stakes in BLI. Steward Partners Investment Advisory LLC purchased a new stake in Berkeley Lights during the 4th quarter worth about $197,000. Blair William & Co. IL purchased a new stake in Berkeley Lights during the 4th quarter worth about $206,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Berkeley Lights during the 4th quarter worth about $216,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in Berkeley Lights during the 4th quarter worth about $232,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Berkeley Lights during the 3rd quarter worth about $275,000. 26.96% of the stock is owned by institutional investors and hedge funds.

About Berkeley Lights (NASDAQ:BLI)

Berkeley Lights, Inc, a digital cell biology company that focuses on enabling and accelerating the rapid development and commercialization of biotherapeutics and other cell-based products. It 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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