Rockley Photonics (RKLY) to Release Earnings on Thursday

Rockley Photonics (NYSE:RKLYGet Rating) is scheduled to be announcing its earnings results after the market closes on Thursday, August 11th. Analysts expect the company to announce earnings of ($0.24) per share for the quarter. Rockley Photonics has set its FY 2022 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Rockley Photonics (NYSE:RKLYGet Rating) last announced its earnings results on Thursday, May 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.04). The business had revenue of $0.96 million during the quarter, compared to analyst estimates of $5.00 million. On average, analysts expect Rockley Photonics to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Rockley Photonics Stock Performance

Shares of RKLY stock opened at $2.45 on Thursday. The stock has a 50 day moving average price of $2.42 and a 200 day moving average price of $3.28. Rockley Photonics has a 52-week low of $1.83 and a 52-week high of $16.56. The firm has a market capitalization of $318.28 million, a P/E ratio of -2.47 and a beta of 0.46.

Hedge Funds Weigh In On Rockley Photonics

A number of large investors have recently bought and sold shares of RKLY. Bank of America Corp DE boosted its holdings in shares of Rockley Photonics by 235.7% in the 1st quarter. Bank of America Corp DE now owns 35,598 shares of the company’s stock valued at $144,000 after buying an additional 24,994 shares in the last quarter. Ensign Peak Advisors Inc acquired a new stake in Rockley Photonics in the first quarter valued at approximately $174,000. California State Teachers Retirement System grew its holdings in Rockley Photonics by 16.4% in the first quarter. California State Teachers Retirement System now owns 80,908 shares of the company’s stock worth $326,000 after purchasing an additional 11,379 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Rockley Photonics by 7.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 140,038 shares of the company’s stock valued at $564,000 after purchasing an additional 9,953 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Rockley Photonics by 1,003.8% in the 1st quarter. State Street Corp now owns 490,401 shares of the company’s stock worth $1,976,000 after purchasing an additional 445,973 shares in the last quarter. Institutional investors own 12.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC dropped their target price on shares of Rockley Photonics from $8.00 to $4.00 in a research note on Friday, May 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

About Rockley Photonics

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Rockley Photonics Holdings Limited develops and supplies silicon photonics in the United Kingdom and internationally. It offers a platform, which comprises photonic integrated circuits in silicon with integrated III-V devices; application-specific electronic integrated circuits; photonic and electronic co-packaging, which are supported by and coupled with biosensing algorithms, artificial intelligence, cloud analytics, firmware/software, system architecture, and hardware design.

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