Brokerages Set Rockley Photonics Holdings Limited (NYSE:RKLY) PT at $3.80

Rockley Photonics Holdings Limited (NYSE:RKLYGet Rating) has received a consensus rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $3.80.

A number of research analysts recently weighed in on RKLY shares. Cowen decreased their target price on Rockley Photonics from $14.00 to $1.00 in a report on Tuesday, November 15th. Needham & Company LLC lowered Rockley Photonics from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Cowen decreased their price objective on Rockley Photonics from $14.00 to $1.00 in a report on Tuesday, November 15th. Finally, Robert W. Baird lowered Rockley Photonics from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $6.00 to $2.00 in a report on Friday, August 12th.

Rockley Photonics Trading Down 2.8 %

RKLY stock opened at $0.27 on Friday. The firm has a market capitalization of $36.15 million, a PE ratio of -0.18 and a beta of 0.80. Rockley Photonics has a 1-year low of $0.26 and a 1-year high of $6.87. The business’s 50 day simple moving average is $0.58 and its 200 day simple moving average is $1.62.

Rockley Photonics (NYSE:RKLYGet Rating) last posted its earnings results on Wednesday, November 9th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.21. The business had revenue of $0.56 million for the quarter, compared to analyst estimates of $2.00 million. Rockley Photonics had a negative return on equity of 589.47% and a negative net margin of 3,061.94%. As a group, sell-side analysts predict that Rockley Photonics will post -1.27 EPS for the current fiscal year.

Institutional Trading of Rockley Photonics

A number of institutional investors have recently modified their holdings of the stock. Game Plan Financial Advisors LLC lifted its position in shares of Rockley Photonics by 6.7% during the 2nd quarter. Game Plan Financial Advisors LLC now owns 80,000 shares of the company’s stock valued at $169,000 after acquiring an additional 5,000 shares during the period. Credit Agricole S A lifted its position in shares of Rockley Photonics by 1.3% during the 2nd quarter. Credit Agricole S A now owns 539,582 shares of the company’s stock valued at $1,176,000 after acquiring an additional 7,000 shares during the period. Legal & General Group Plc lifted its position in shares of Rockley Photonics by 37.6% during the 2nd quarter. Legal & General Group Plc now owns 35,552 shares of the company’s stock valued at $78,000 after acquiring an additional 9,709 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Rockley Photonics by 7.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 140,038 shares of the company’s stock valued at $564,000 after acquiring an additional 9,953 shares during the period. Finally, California State Teachers Retirement System lifted its position in shares of Rockley Photonics by 16.4% during the 1st quarter. California State Teachers Retirement System now owns 80,908 shares of the company’s stock valued at $326,000 after acquiring an additional 11,379 shares during the period. 12.41% of the stock is currently owned by institutional investors.

About Rockley Photonics

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Rockley Photonics Holdings Limited develops and supplies silicon photonics in the United Kingdom and internationally. It offers a platform, which comprises photonic integrated circuits in silicon with integrated III-V devices; application-specific electronic integrated circuits; photonic and electronic co-packaging, which are supported by and coupled with biosensing algorithms, artificial intelligence, cloud analytics, firmware/software, system architecture, and hardware design.

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Analyst Recommendations for Rockley Photonics (NYSE:RKLY)

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