Berkeley Lights (NASDAQ:BLI) Issues Earnings Results

Berkeley Lights (NASDAQ:BLI – Get Rating) released its earnings results on Monday. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01), MarketWatch Earnings reports. The business had revenue of $20.20 million for the quarter, compared to analyst estimates of $20.22 million. Berkeley Lights had a negative return on equity of 31.78% and a negative net margin of 84.00%. Berkeley Lights’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.24) earnings per share.

Shares of NASDAQ:BLI opened at $4.45 on Tuesday. Berkeley Lights has a 52 week low of $4.28 and a 52 week high of $51.28. The company’s 50 day moving average is $6.18 and its two-hundred day moving average is $12.42. The company has a current ratio of 7.04, a quick ratio of 6.60 and a debt-to-equity ratio of 0.09. The company has a market cap of $301.80 million, a PE ratio of -4.16 and a beta of 2.41.

In related news, Director Jessica Hopfield bought 80,000 shares of the company’s stock in a transaction that occurred on Thursday, March 10th. The shares were purchased at an average cost of $6.28 per share, with a total value of $502,400.00. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 20.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BLI. LPL Financial LLC grew its position in shares of Berkeley Lights by 39.5% in the 4th quarter. LPL Financial LLC now owns 16,040 shares of the company’s stock valued at $292,000 after buying an additional 4,541 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Berkeley Lights by 66.3% in the 4th quarter. Parametric Portfolio Associates LLC now owns 17,064 shares of the company’s stock valued at $310,000 after buying an additional 6,802 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Berkeley Lights by 140.8% in the 4th quarter. Advisors Asset Management Inc. now owns 23,699 shares of the company’s stock valued at $431,000 after buying an additional 13,858 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Berkeley Lights by 44.2% in the 4th quarter. Wells Fargo & Company MN now owns 75,142 shares of the company’s stock valued at $1,366,000 after buying an additional 23,039 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Berkeley Lights by 52.5% in the 4th quarter. Alliancebernstein L.P. now owns 116,200 shares of the company’s stock valued at $2,113,000 after buying an additional 40,000 shares during the last quarter. 71.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on BLI shares. Zacks Investment Research lowered shares of Berkeley Lights from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. Morgan Stanley dropped their price objective on shares of 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $23.25.

About Berkeley Lights (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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