Analysts Anticipate Berkeley Lights, Inc. (NASDAQ:BLI) Will Announce Earnings of -$0.26 Per Share

Wall Street brokerages predict that Berkeley Lights, Inc. (NASDAQ:BLI) will announce ($0.26) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Berkeley Lights’ earnings. The highest EPS estimate is ($0.24) and the lowest is ($0.27). Berkeley Lights reported earnings of ($0.19) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 36.8%. The firm is expected to announce its next quarterly earnings report on Thursday, February 24th.

According to Zacks, analysts expect that Berkeley Lights will report full year earnings of ($1.04) per share for the current financial year, with EPS estimates ranging from ($1.09) to ($0.94). For the next year, analysts anticipate that the firm will post earnings of ($0.88) per share, with EPS estimates ranging from ($1.14) to ($0.62). Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Berkeley Lights.

Berkeley Lights (NASDAQ:BLI) last announced its quarterly earnings data on Thursday, November 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.07). The company had revenue of $24.30 million during the quarter, compared to analyst estimates of $23.48 million. Berkeley Lights had a negative net margin of 78.76% and a negative return on equity of 28.16%. The firm’s revenue was up 33.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) earnings per share.

BLI has been the topic of a number of analyst reports. BTIG Research cut their price target on Berkeley Lights from $45.00 to $25.00 in a research note on Thursday, January 6th. Stifel Nicolaus cut Berkeley Lights from a “hold” rating to a “sell” rating and cut their price target for the company from $61.00 to $12.00 in a research note on Thursday, January 6th. William Blair cut Berkeley Lights from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 6th. Berenberg Bank initiated coverage on Berkeley Lights in a research note on Wednesday, October 13th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Morgan Stanley cut their price target on Berkeley Lights from $66.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Sunday, November 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $39.20.

Shares of NASDAQ BLI traded down $0.21 during mid-day trading on Friday, hitting $9.30. The company had a trading volume of 47,078 shares, compared to its average volume of 1,986,954. Berkeley Lights has a 1-year low of $9.05 and a 1-year high of $90.09. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.17 and a quick ratio of 6.78. The company has a market capitalization of $627.47 million, a PE ratio of -9.14 and a beta of 1.94. The business’s 50-day simple moving average is $19.35 and its 200 day simple moving average is $29.10.

In related news, Director Gregory T. Lucier purchased 20,704 shares of the stock in a transaction that occurred on Friday, November 5th. The shares were purchased at an average price of $24.15 per share, with a total value of $500,001.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Rothman acquired 4,000 shares of Berkeley Lights stock in a transaction that occurred on Monday, November 8th. The stock was purchased at an average price of $24.35 per share, with a total value of $97,400.00. The disclosure for this purchase can be found here. Company insiders own 20.30% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in Berkeley Lights by 25.6% in the third quarter. Bank of New York Mellon Corp now owns 188,012 shares of the company’s stock valued at $3,677,000 after purchasing an additional 38,363 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Berkeley Lights in the third quarter valued at about $874,000. Squarepoint Ops LLC acquired a new stake in Berkeley Lights in the third quarter valued at about $1,416,000. Twinbeech Capital LP lifted its position in Berkeley Lights by 22.6% in the third quarter. Twinbeech Capital LP now owns 10,989 shares of the company’s stock valued at $215,000 after purchasing an additional 2,026 shares during the period. Finally, Two Sigma Advisers LP lifted its position in Berkeley Lights by 588.4% in the third quarter. Two Sigma Advisers LP now owns 1,177,200 shares of the company’s stock valued at $23,026,000 after purchasing an additional 1,006,200 shares during the period. Hedge funds and other institutional investors own 69.15% of the company’s stock.

Berkeley Lights Company Profile

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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