Berkeley Lights (NASDAQ:BLI) Releases FY 2021 Earnings Guidance

Berkeley Lights (NASDAQ:BLI) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $- for the period. The company issued revenue guidance of $90 million-100 million, compared to the consensus revenue estimate of $93.99 million.

Several research firms recently commented on BLI. Zacks Investment Research lowered Berkeley Lights from a hold rating to a sell rating in a research note on Wednesday, April 28th. Morgan Stanley dropped their target price on Berkeley Lights from $80.00 to $73.00 and set an equal weight rating for the company in a research note on Wednesday, May 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $90.80.

NASDAQ:BLI traded up $1.16 on Friday, hitting $48.45. 2,360 shares of the stock were exchanged, compared to its average volume of 1,010,244. The stock has a market capitalization of $3.23 billion and a PE ratio of -9.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.43 and a current ratio of 6.71. The business has a fifty day moving average of $45.82. Berkeley Lights has a fifty-two week low of $35.51 and a fifty-two week high of $113.53.

Berkeley Lights (NASDAQ:BLI) last issued its earnings results on Monday, May 10th. The company reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). Berkeley Lights had a negative return on equity of 33.57% and a negative net margin of 70.27%. The company had revenue of $18.60 million during the quarter, compared to analysts’ expectations of $16.76 million. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year. Research analysts expect that Berkeley Lights will post -0.89 EPS for the current year.

In related news, CAO Matthew W. Rosinack sold 500 shares of the stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $54.17, for a total value of $27,085.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Keith Breinlinger sold 4,000 shares of the stock in a transaction dated Tuesday, May 11th. The shares were sold at an average price of $41.91, for a total value of $167,640.00. Following the completion of the transaction, the insider now directly owns 32,036 shares of the company’s stock, valued at approximately $1,342,628.76. The disclosure for this sale can be found here. Insiders sold 189,447 shares of company stock valued at $8,700,001 in the last ninety days. Company insiders own 20.30% of the company’s stock.

About Berkeley Lights

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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Earnings History and Estimates for Berkeley Lights (NASDAQ:BLI)

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