Market Analysts see Rockley Photonics Holdings Limited [RKLY] falling to $6. Time to buy?


Rockley Photonics Holdings Limited [NYSE: RKLY] closed the trading session at $2.33 on 05/12/22. The day’s price range saw the stock hit a low of $2.115, while the highest price level was $2.76. The company report on May 12, 2022 that Rockley Photonics Reports First Quarter of Fiscal 2022 Financial Results.

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Collaboration Agreement Signed with Medtronic to Develop Next-Generation Wearable Healthcare Monitoring Devices, Utilizing Rockley’s Bioptx™ Biomarker Sensing Platform.

VitalSpex™ Pro Biosensing Technology for Alcohol, Lactate, and Glucose Measurement Shipped to Tier-1 Customer.

The stocks have a year to date performance of -46.44 percent and weekly performance of -26.73 percent. The stock has been moved at -61.74 percent over the last six months. The stock has performed -50.00 percent around the most recent 30 days and changed -49.13 percent over the most recent 3-months.

If compared to the average trading volume of 627.19K shares, RKLY reached to a volume of 3463673 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Rockley Photonics Holdings Limited [RKLY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RKLY shares is $11.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RKLY 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.

BofA Securities have made an estimate for Rockley Photonics Holdings Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 22, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on September 17, 2021, representing the official price target for Rockley Photonics Holdings Limited stock. Previously, the target price had yet another raise to $22, while Cowen analysts kept a Outperform rating on RKLY stock.

The Average True Range (ATR) for Rockley Photonics Holdings Limited is set at 0.35, with the Price to Sales ratio for RKLY stock in the period of the last 12 months amounting to 35.36. The Price to Book ratio for the last quarter was 2.88, with the Price to Cash per share for the same quarter was set at 0.51.

RKLY stock trade performance evaluation

Rockley Photonics Holdings Limited [RKLY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -26.73. With this latest performance, RKLY shares dropped by -50.00% in over the last four-week period, additionally sinking by -61.74% over the last 6 months – not to mention a drop of -76.75% in the past year of trading.

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 RKLY stock in for the last two-week period is set at 29.71, with the RSI for the last a single of trading hit 25.08, and the three-weeks RSI is set at 33.56 for Rockley Photonics Holdings Limited [RKLY]. The present Moving Average for the last 50 days of trading for this stock 3.90, while it was recorded at 2.86 for the last single week of trading.

Rockley Photonics Holdings Limited [RKLY]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Rockley Photonics Holdings Limited [RKLY] shares currently have an operating margin of -1409.38 and a Gross Margin at -95.49. Rockley Photonics Holdings Limited’s Net Margin is presently recorded at -2045.70.

Return on Equity for this stock declined to -123.80, with Return on Assets sitting at -99.53.

Rockley Photonics Holdings Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.

Rockley Photonics Holdings Limited [RKLY]: Insider Ownership positions

There are presently around $24 million, or 6.60% of RKLY stock, in the hands of institutional investors. The top three institutional holders of RKLY stocks are: SENVEST MANAGEMENT, LLC with ownership of 2,006,565, which is approximately -21.684% of the company’s market cap and around 14.70% of the total institutional ownership; BLACKROCK INC., holding 1,490,587 shares of the stock with an approximate value of $4.17 million in RKLY stocks shares; and PEKIN HARDY STRAUSS, INC., currently with $2.07 million in RKLY stock with ownership of nearly New of the company’s market capitalization.

Positions in Rockley Photonics Holdings Limited stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 42 institutional holders increased their position in Rockley Photonics Holdings Limited [NYSE:RKLY] by around 4,264,551 shares. Additionally, 19 investors decreased positions by around 5,728,777 shares, while 7 investors held positions by with 1,389,857 shares. The mentioned changes placed institutional holdings at 8,603,471 shares, according to the latest SEC report filing. RKLY stock had 24 new institutional investments in for a total of 2,321,401 shares, while 10 institutional investors sold positions of 4,086,608 shares during the same period.