Carnegie Capital Asset Management LLC Acquires Shares of 23,390 Berkeley Lights, Inc. (NASDAQ:BLI)

Carnegie Capital Asset Management LLC acquired a new stake in Berkeley Lights, Inc. (NASDAQ:BLIGet Rating) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 23,390 shares of the company’s stock, valued at approximately $1,048,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. ARK Investment Management LLC boosted its holdings in Berkeley Lights by 1.5% in the 2nd quarter. ARK Investment Management LLC now owns 8,422,424 shares of the company’s stock valued at $40,259,000 after purchasing an additional 121,085 shares in the last quarter. DnB Asset Management AS boosted its stake in shares of Berkeley Lights by 82.6% during the 2nd quarter. DnB Asset Management AS now owns 177,045 shares of the company’s stock worth $880,000 after acquiring an additional 80,111 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Berkeley Lights during the 1st quarter worth approximately $56,000. Walleye Capital LLC purchased a new stake in shares of Berkeley Lights during the 1st quarter worth approximately $170,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Berkeley Lights by 35.2% during the 1st quarter. Advisors Asset Management Inc. now owns 32,052 shares of the company’s stock worth $228,000 after acquiring an additional 8,353 shares in the last quarter. Hedge funds and other institutional investors own 69.67% of the company’s stock.

Berkeley Lights Price Performance

BLI stock opened at $3.00 on Friday. Berkeley Lights, Inc. has a 1 year low of $2.91 and a 1 year high of $26.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 6.07 and a current ratio of 6.61. The stock’s 50 day moving average price is $4.21 and its 200 day moving average price is $5.07. The firm has a market cap of $204.85 million, a P/E ratio of -2.38 and a beta of 1.60.

Berkeley Lights (NASDAQ:BLIGet Rating) last posted its earnings results on Tuesday, August 9th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.08). Berkeley Lights had a negative net margin of 98.21% and a negative return on equity of 42.87%. The company had revenue of $19.15 million during the quarter, compared to analysts’ expectations of $20.82 million. During the same period in the previous year, the company posted ($0.27) EPS. Berkeley Lights’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts expect that Berkeley Lights, Inc. will post -1.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on BLI. BTIG Research lowered Berkeley Lights from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 10th. JPMorgan Chase & Co. lowered Berkeley Lights from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $12.00 to $8.00 in a research note on Wednesday, August 10th. Finally, Morgan Stanley lowered Berkeley Lights from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $10.00 to $5.00 in a research note on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.40.

Berkeley Lights Profile

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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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Institutional Ownership by Quarter for Berkeley Lights (NASDAQ:BLI)

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