Berkshire Grey Target of Unusually High Options Trading (NASDAQ:BGRY)

Berkshire Grey, Inc. (NASDAQ:BGRYGet Rating) saw unusually large options trading activity on Wednesday. Stock investors bought 1,113 put options on the stock. This represents an increase of 1,084% compared to the typical daily volume of 94 put options.

BGRY stock opened at $2.18 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.90 and a quick ratio of 4.84. Berkshire Grey has a 12-month low of $2.17 and a 12-month high of $10.55. The stock’s 50 day simple moving average is $3.13 and its 200 day simple moving average is $4.42.

Berkshire Grey (NASDAQ:BGRYGet Rating) last issued its earnings results on Tuesday, March 29th. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.03). On average, sell-side analysts forecast that Berkshire Grey will post -0.58 earnings per share for the current year.

Several research firms have recently issued reports on BGRY. Zacks Investment Research raised Berkshire Grey from a “sell” rating to a “hold” rating in a research note on Wednesday, March 9th. Credit Suisse Group cut their target price on shares of Berkshire Grey from $10.00 to $8.00 and set an “outperform” rating for the company in a research note on Wednesday, March 30th. Finally, Craig Hallum dropped their price objective on shares of Berkshire Grey from $15.00 to $8.00 in a research note on Wednesday, March 30th.

Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its stake in Berkshire Grey by 6,959.0% in the 4th quarter. Wells Fargo & Company MN now owns 123,251 shares of the company’s stock worth $678,000 after acquiring an additional 121,505 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Berkshire Grey by 57.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 38,303 shares of the company’s stock worth $211,000 after purchasing an additional 13,954 shares in the last quarter. Deutsche Bank AG bought a new position in shares of Berkshire Grey in the 4th quarter valued at approximately $34,000. California State Teachers Retirement System bought a new position in shares of Berkshire Grey in the 4th quarter valued at approximately $207,000. Finally, Legal & General Group Plc bought a new position in shares of Berkshire Grey in the 4th quarter valued at approximately $46,000. 81.40% of the stock is owned by institutional investors and hedge funds.

About Berkshire Grey (Get Rating)

Berkshire Grey, Inc, an intelligent enterprise robotics company, provides AI-enabled robotic solutions that automate supply chain operations in the United States and internationally. The company's solutions automate filling ecommerce orders for consumers or businesses, filling orders to resupply retail stores and groceries, and handling packages shipped to fill those orders.

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