Pacific Biosciences of California Inc [NASDAQ: PACB] gained 27.74% or 0.43 points to close at $1.98 with a heavy trading volume of 24347495 shares.
The daily chart for PACB points out that the company has recorded -37.54% loss over the past six months.
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If we look at the average trading volume of 9.09M shares, PACB reached to a volume of 24347495 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Pacific Biosciences of California Inc [PACB]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PACB shares is $2.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PACB stock is a recommendation set at 2.13. 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.
Jefferies have made an estimate for Pacific Biosciences of California Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 03, 2024. The new note on the price target was released on April 22, 2024, representing the official price target for Pacific Biosciences of California Inc stock. Previously, the target price had yet another drop from $7 to $2.50, while Goldman kept a Neutral rating on PACB stock.
The Average True Range (ATR) for Pacific Biosciences of California Inc is set at 0.17, with the Price to Sales ratio for PACB stock in the period of the last 12 months amounting to 2.86. The Price to Book ratio for the last quarter was 1.10, with the Price to Cash per share for the same quarter was set at 1.87.
Trading performance analysis for PACB stock
Pacific Biosciences of California Inc [PACB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.12. With this latest performance, PACB shares gained by 10.00% in over the last four-week period, additionally sinking by -37.54% over the last 6 months – not to mention a drop of -78.07% 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 PACB stock in for the last two-week period is set at 61.87, with the RSI for the last a single of trading hit 66.93, and the three-weeks RSI is set at 58.48 for Pacific Biosciences of California Inc [PACB]. The present Moving Average for the last 50 days of trading for this stock 1.6229, while it was recorded at 1.7060 for the last single week of trading, and 3.1744 for the last 200 days.
Pacific Biosciences of California Inc [PACB]: A deeper dive into fundamental analysis
Pacific Biosciences of California Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.14 and a Current Ratio set at 8.01.
Pacific Biosciences of California Inc [PACB]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PACB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Pacific Biosciences of California Inc go to -1.00%.
An analysis of Institutional ownership at Pacific Biosciences of California Inc [PACB]
There are presently around $85.83%, or 87.46%% of PACB stock, in the hands of institutional investors. The top three institutional holders of PACB stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 33.21 million shares, which is approximately 12.3202%. VANGUARD GROUP INC, holding 26.0 million shares of the stock with an approximate value of $$35.62 million in PACB stocks shares; and VANGUARD GROUP INC, currently with $$32.34 million in PACB stock with ownership which is approximately 8.7576%.
