Zacks Investment Research Lowers Berkshire Grey (NASDAQ:BGRY) to Sell

Zacks Investment Research downgraded shares of Berkshire Grey (NASDAQ:BGRY – Get Rating) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Berkshire Grey Inc. is a pure-play robotics company. It offers fully integrated, AI-based software and hardware solutions to automate warehouses and logistics fulfillment centers. Berkshire Grey Inc., formerly known as Revolution Acceleration Acquisition Corp, is based in WASHINGTON. “

A number of other equities analysts also recently weighed in on the stock. Craig Hallum dropped their price target on shares of Berkshire Grey from $15.00 to $8.00 in a research note on Wednesday, March 30th. Credit Suisse Group dropped their price target on shares of Berkshire Grey from $10.00 to $8.00 and set an outperform rating on the stock in a research note on Wednesday, March 30th.

Shares of NASDAQ:BGRY opened at $2.09 on Tuesday. The company’s fifty day moving average is $2.77 and its two-hundred day moving average is $3.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.23 and a quick ratio of 3.17. Berkshire Grey has a 12-month low of $1.88 and a 12-month high of $10.55.

Berkshire Grey (NASDAQ:BGRY – Get Rating) last announced its earnings results on Tuesday, March 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03). On average, equities research analysts forecast that Berkshire Grey will post -0.58 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of BGRY. VK Services LLC bought a new stake in Berkshire Grey in the third quarter worth $397,672,000. NEA Management Company LLC bought a new stake in Berkshire Grey during the third quarter valued at about $268,733,000. Canaan Partners X LLC bought a new stake in Berkshire Grey during the third quarter valued at about $100,547,000. Washington Harbour Partners LP bought a new stake in Berkshire Grey during the third quarter valued at about $19,857,000. Finally, Millennium Management LLC bought a new stake in Berkshire Grey during the third quarter valued at about $8,269,000. Hedge funds and other institutional investors own 81.41% of the company’s stock.

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 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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