Zacks: Analysts Expect Berkeley Lights, Inc. (NASDAQ:BLI) Will Post Quarterly Sales of $16.56 Million


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Wall Street analysts predict that Berkeley Lights, Inc. (NASDAQ:BLI) will post $16.56 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Berkeley Lights’ earnings. The highest sales estimate is $17.40 million and the lowest is $15.84 million. The company is scheduled to report its next quarterly earnings results before the market opens on Tuesday, May 11th.

On average, analysts expect that Berkeley Lights will report full year sales of $94.20 million for the current financial year, with estimates ranging from $90.00 million to $97.03 million. For the next fiscal year, analysts anticipate that the firm will report sales of $136.27 million, with estimates ranging from $124.50 million to $143.16 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Berkeley Lights.

Berkeley Lights (NASDAQ:BLI) last issued its quarterly earnings results on Thursday, February 25th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. The company had revenue of $21.75 million during the quarter, compared to the consensus estimate of $18.84 million.

A number of equities research analysts have recently issued reports on BLI shares. Zacks Investment Research cut shares of Berkeley Lights from a “buy” rating to a “hold” rating in a research report on Tuesday, February 2nd. Stifel Nicolaus started coverage on shares of Berkeley Lights in a research report on Tuesday, January 26th. They issued a “buy” rating and a $105.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Berkeley Lights currently has a consensus rating of “Buy” and a consensus price target of $92.20.

In related news, Director Michael E. Marks sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $61.93, for a total value of $1,238,600.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at $619,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Keith Breinlinger sold 8,250 shares of the company’s stock in a transaction that occurred on Tuesday, April 13th. The shares were sold at an average price of $48.28, for a total value of $398,310.00. Following the completion of the sale, the insider now owns 36,286 shares in the company, valued at $1,751,888.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 800,253 shares of company stock valued at $44,519,050.

Several institutional investors and hedge funds have recently modified their holdings of BLI. Valeo Financial Advisors LLC bought a new position in shares of Berkeley Lights in the 1st quarter worth $50,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Berkeley Lights during the 4th quarter valued at $197,000. Blair William & Co. IL bought a new position in shares of Berkeley Lights during the 4th quarter worth $206,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Berkeley Lights during the 4th quarter worth $216,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in Berkeley Lights in the 4th quarter worth about $232,000. Institutional investors own 26.96% of the company’s stock.

BLI stock opened at $47.93 on Friday. The company has a quick ratio of 10.87, a current ratio of 11.41 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average price of $51.30 and a two-hundred day moving average price of $76.86. Berkeley Lights has a one year low of $42.03 and a one year high of $113.53.

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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