Berkeley Lights, Inc. (NASDAQ:BLI) Expected to Post Earnings of -$0.30 Per Share

Wall Street analysts predict that Berkeley Lights, Inc. (NASDAQ:BLI – Get Rating) will announce ($0.30) earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have provided estimates for Berkeley Lights’ earnings, with estimates ranging from ($0.35) to ($0.24). Berkeley Lights reported earnings of ($0.27) per share in the same quarter last year, which would indicate a negative year over year growth rate of 11.1%. The business is expected to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Berkeley Lights will report full year earnings of ($1.14) per share for the current financial year, with EPS estimates ranging from ($1.32) to ($0.97). For the next financial year, analysts expect that the business will report earnings of ($1.03) per share, with EPS estimates ranging from ($1.12) to ($0.96). Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow Berkeley Lights.

Berkeley Lights (NASDAQ:BLI – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). Berkeley Lights had a negative net margin of 89.36% and a negative return on equity of 36.42%. The company had revenue of $20.20 million during the quarter, compared to analysts’ expectations of $20.22 million. During the same quarter in the prior year, the business earned ($0.24) EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year.

Several equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Berkeley Lights from a “hold” rating to a “sell” rating in a report on Thursday, May 12th. Morgan Stanley dropped their target price on shares of Berkeley Lights from $20.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, February 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Berkeley Lights has an average rating of “Hold” and an average target price of $23.25.

NASDAQ:BLI traded up $0.65 during mid-day trading on Thursday, hitting $5.02. 897,705 shares of the company’s stock traded hands, compared to its average volume of 1,482,515. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.95 and a current ratio of 7.52. The firm’s 50 day simple moving average is $5.58 and its 200 day simple moving average is $10.26. Berkeley Lights has a 1 year low of $3.65 and a 1 year high of $51.28. The company has a market cap of $340.49 million, a PE ratio of -4.37 and a beta of 2.38.

In related news, Director Jessica Hopfield bought 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 10th. The shares were acquired at an average cost of $6.28 per share, with a total value of $502,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Hobbs sold 7,531 shares of the firm’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $4.97, for a total transaction of $37,429.07. Following the completion of the sale, the insider now directly owns 182,725 shares in the company, valued at $908,143.25. The disclosure for this sale can be found here. 17.60% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Summit Place Financial Advisors LLC lifted its position in Berkeley Lights by 9.4% during the fourth quarter. Summit Place Financial Advisors LLC now owns 15,775 shares of the company’s stock valued at $287,000 after buying an additional 1,350 shares in the last quarter. Primecap Management Co. CA lifted its position in Berkeley Lights by 6.0% during the fourth quarter. Primecap Management Co. CA now owns 26,145 shares of the company’s stock valued at $475,000 after buying an additional 1,487 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Berkeley Lights during the fourth quarter valued at approximately $30,000. Brandywine Managers LLC lifted its position in Berkeley Lights by 9.4% during the third quarter. Brandywine Managers LLC now owns 23,092 shares of the company’s stock valued at $452,000 after buying an additional 1,988 shares in the last quarter. Finally, Twinbeech Capital LP raised its stake in shares of Berkeley Lights by 22.6% during the third quarter. Twinbeech Capital LP now owns 10,989 shares of the company’s stock valued at $215,000 after purchasing an additional 2,026 shares during the period. 71.49% of the stock is currently owned by hedge funds and other institutional investors.

Berkeley Lights Company Profile (Get Rating)

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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