Berkeley Lights Inc. [NASDAQ: BLI] stock went on a downward path that fall over -12.24% on Thursday, amounting to a one-week price decrease of less than -10.13%. The company report on November 19, 2020 that Berkeley Lights Announces Pricing of Public Offering by Selling Stockholders.
Berkeley Lights, Inc., a leader in Digital Cell Biology, today announced the pricing of its previously announced public offering of 3,000,000 shares of common stock to be sold by certain selling stockholders of Berkeley Lights at a public offering price of $86.00 per share. In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 450,000 shares of common stock. The offering is expected to close on or about November 23, 2020, subject to the satisfaction of customary closing conditions. The selling stockholders will receive all of the net proceeds from the offering. Berkeley Lights will not receive any proceeds from the offering.
J.P. Morgan, Morgan Stanley and Cowen are acting as lead book-running managers for the offering.
The one-year Berkeley Lights Inc. stock forecast points to a potential downside of -4.21. The average equity rating for BLI stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.97 billion, with 64.36 million shares outstanding and 61.65 million shares in the current float. Compared to the average trading volume of 140.99K shares, BLI stock reached a trading volume of 2133782 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Berkeley Lights Inc. [BLI]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BLI shares is $78.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BLI stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
KeyBanc Capital Markets have made an estimate for Berkeley Lights Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 10, 2020. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on August 11, 2020, representing the official price target for Berkeley Lights Inc. stock. Previously, the target price had yet another raise to $75, while JP Morgan analysts kept a Overweight rating on BLI stock.
The Average True Range (ATR) for Berkeley Lights Inc. is set at 7.31, with the Price to Sales ratio for BLI stock in the period of the last 12 months amounting to 84.03. The Price to Book ratio for the last quarter was 20.98, with the Price to Cash per share for the same quarter was set at 3.89.
BLI Stock Performance Analysis:
Berkeley Lights Inc. [BLI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.13.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BLI stock in for the last two-week period is set at 50.42, with the RSI for the last a single of trading hit 46.77, and the three-weeks RSI is set at 51.41 for Berkeley Lights Inc. [BLI]. The present Moving Average for the last 50 days of trading for this stock 77.17, while it was recorded at 89.18 for the last single week of trading.
Insight into Berkeley Lights Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Berkeley Lights Inc. [BLI] shares currently have an operating margin of -29.17 and a Gross Margin at +76.69. Berkeley Lights Inc.’s Net Margin is presently recorded at -32.28.
Return on Total Capital for BLI is now -14.39, given the latest momentum, and Return on Invested Capital for the company is -16.49. Return on Equity for this stock declined to -20.18, with Return on Assets sitting at -13.82. When it comes to the capital structure of this company, Berkeley Lights Inc. [BLI] has a Total Debt to Total Equity ratio set at 34.23. Additionally, BLI Total Debt to Total Capital is recorded at 25.50, with Total Debt to Total Assets ending up at 21.89.
Receivables Turnover for the company is 4.21 with a Total Asset Turnover recorded at a value of 0.43.Berkeley Lights Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.90 and a Current Ratio set at 11.40.
Berkeley Lights Inc. [BLI] Insider Position Details
There are presently around $1,416 million, or 10.00% of BLI stock, in the hands of institutional investors. The top three institutional holders of BLI stocks are: SC US (TTGP), LTD. with ownership of 8,048,014, which is approximately New of the company’s market cap and around 0.40% of the total institutional ownership; FMR LLC, holding 1,033,702 shares of the stock with an approximate value of $84.38 million in BLI stocks shares; and VANGUARD GROUP INC, currently with $60.99 million in BLI stock with ownership of nearly New of the company’s market capitalization.
Positions in Berkeley Lights Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 74 institutional holders increased their position in Berkeley Lights Inc. [NASDAQ:BLI] by around 17,352,150 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 17,352,150 shares, according to the latest SEC report filing. BLI stock had 74 new institutional investments in for a total of 17,352,150 shares, while 0 institutional investors sold positions of 0 shares during the same period.