$20.53 Million in Sales Expected for Berkeley Lights, Inc. (NASDAQ:BLI) This Quarter

Wall Street analysts expect Berkeley Lights, Inc. (NASDAQ:BLIGet Rating) to report sales of $20.53 million for the current quarter, Zacks reports. Five analysts have provided estimates for Berkeley Lights’ earnings, with the lowest sales estimate coming in at $19.44 million and the highest estimate coming in at $23.00 million. Berkeley Lights reported sales of $18.63 million in the same quarter last year, which indicates a positive year over year growth rate of 10.2%. The company is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Berkeley Lights will report full-year sales of $110.48 million for the current year, with estimates ranging from $109.97 million to $111.60 million. For the next financial year, analysts expect that the business will post sales of $140.18 million, with estimates ranging from $126.29 million to $148.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Berkeley Lights.

Berkeley Lights (NASDAQ:BLIGet Rating) last posted its earnings results on Thursday, February 24th. The company reported ($0.26) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.26). The firm had revenue of $23.20 million for the quarter, compared to the consensus estimate of $22.05 million. Berkeley Lights had a negative return on equity of 31.78% and a negative net margin of 84.00%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.19) earnings per share.

A number of equities research analysts recently issued reports on the company. William Blair downgraded Berkeley Lights from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 6th. BTIG Research lowered their price objective on Berkeley Lights from $45.00 to $25.00 in a research report on Thursday, January 6th. Morgan Stanley lowered their price objective on Berkeley Lights from $20.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, February 25th. Stifel Nicolaus downgraded Berkeley Lights from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $61.00 to $12.00 in a research report on Thursday, January 6th. Finally, Zacks Investment Research upgraded Berkeley Lights from a “sell” rating to a “hold” rating in a research report on Tuesday, March 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $23.25.

Shares of BLI stock opened at $5.29 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.60 and a current ratio of 7.04. Berkeley Lights has a 52-week low of $5.07 and a 52-week high of $53.42. The company has a market capitalization of $358.77 million, a PE ratio of -4.94 and a beta of 2.51. The business’s fifty day moving average is $6.58 and its 200 day moving average is $13.88.

In other news, Director Jessica Hopfield purchased 80,000 shares of the stock in a transaction on Thursday, March 10th. The shares were acquired at an average price of $6.28 per share, for a total transaction of $502,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 20.30% of the company’s stock.

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Berkeley Lights by 31.2% during the third quarter. Geode Capital Management LLC now owns 676,436 shares of the company’s stock valued at $13,231,000 after buying an additional 161,019 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Berkeley Lights by 13.9% during the third quarter. Primecap Management Co. CA now owns 24,658 shares of the company’s stock valued at $482,000 after buying an additional 3,000 shares during the last quarter. Brandywine Managers LLC grew its stake in shares of Berkeley Lights by 9.4% in the third quarter. Brandywine Managers LLC now owns 23,092 shares of the company’s stock worth $452,000 after purchasing an additional 1,988 shares during the last quarter. Privium Fund Management UK Ltd bought a new stake in shares of Berkeley Lights in the third quarter worth about $998,000. Finally, Summit Place Financial Advisors LLC grew its stake in shares of Berkeley Lights by 124.5% in the third quarter. Summit Place Financial Advisors LLC now owns 14,425 shares of the company’s stock worth $282,000 after purchasing an additional 8,000 shares during the last quarter. 69.83% 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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