Investors Buy Large Volume of Put Options on Berkshire Grey (NASDAQ:BGRY)

Berkshire Grey, Inc. (NASDAQ:BGRYGet Rating) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 1,113 put options on the company. This is an increase of 1,084% compared to the average volume of 94 put options.

Several large investors have recently modified their holdings of the stock. Moore Capital Management LP acquired a new position in Berkshire Grey in the 3rd quarter worth $1,758,000. Arizona State Retirement System bought a new stake in shares of Berkshire Grey in the fourth quarter valued at about $66,000. NEA Management Company LLC bought a new stake in shares of Berkshire Grey in the third quarter valued at about $268,733,000. Bordeaux Wealth Advisors LLC acquired a new position in shares of Berkshire Grey during the third quarter worth about $4,701,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Berkshire Grey during the third quarter worth about $118,000. Institutional investors and hedge funds own 81.41% of the company’s stock.

NASDAQ:BGRY opened at $2.59 on Thursday. Berkshire Grey has a fifty-two week low of $2.06 and a fifty-two week high of $10.55. The company has a current ratio of 4.90, a quick ratio of 4.84 and a debt-to-equity ratio of 0.11. The business’s 50-day simple moving average is $2.95 and its 200-day simple moving average is $4.15.

Berkshire Grey (NASDAQ:BGRYGet Rating) last announced its earnings results on Tuesday, March 29th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). As a group, sell-side analysts anticipate that Berkshire Grey will post -0.58 EPS for the current year.

BGRY has been the topic of several recent research reports. Zacks Investment Research lowered Berkshire Grey from a “hold” rating to a “sell” rating in a research report on Wednesday. Credit Suisse Group cut their target price on shares of Berkshire Grey from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Wednesday, March 30th. Finally, Craig Hallum decreased their price target on shares of Berkshire Grey from $15.00 to $8.00 in a report on Wednesday, March 30th.

Berkshire Grey Company Profile (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 Japan. 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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