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Rockley Photonics Holdings Limited (NYSE:RKLY)’s 12-Month Price Target Is Now Set At $14.00.

In last trading session, Rockley Photonics Holdings Limited (NYSE:RKLY) saw 1.01 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $0.89 trading at -$0.01 or -1.06% at ring of the bell on the day assigns it a market valuation of $112.63M. That closing price of RKLY’s stock is at a discount of -1124.72% from its 52-week high price of $10.90 and is indicating a discount of -1.12% from its 52-week low price of $0.90. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.74 million shares which gives us an average trading volume of 859.58K if we extend that period to 3-months.

Rockley Photonics Holdings Limited (NYSE:RKLY) trade information

Upright in the red during last session for losing -1.06%, in the last five days RKLY remained trading in the red while hitting it’s week-highest on Monday, 09/19/22 when the stock touched $0.89 price level, adding 21.93% to its value on the day. Rockley Photonics Holdings Limited’s shares saw a change of -79.53% in year-to-date performance and have moved -19.04% in past 5-day. Rockley Photonics Holdings Limited (NYSE:RKLY) showed a performance of -39.82% in past 30-days. Number of shares sold short was 8.69 million shares which calculate 7.27 days to cover the short interests.

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Wall Street analysts have assigned a consensus price target of $5.60 to the stock, which implies a rise of 84.11% to its current value. Analysts have been projecting $2.00 as a low price target for the stock while placing it at a high target of $14.00. It follows that stock’s current price would drop -1473.03% in reaching the projected high whereas dropping to the targeted low would mean a loss of -124.72% for stock’s current value.

Rockley Photonics Holdings Limited (RKLY) estimates and forecasts

Statistics highlight that Rockley Photonics Holdings Limited is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -79.80% of value to its shares in past 6 months, showing an annual growth rate of 1.37% while that of industry is 13.20. Apart from that, the company came raising its revenue forecast for fiscal year 2022. This year revenue growth is estimated to rise 175.70% from the last financial year’s standing.

4 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $4.42 million for the same. And 4 analysts are in estimates of company making revenue of $6.22 million in the next quarter that will end on Sep 2022. Company posted $2.19 million and $2.2 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 101.40% while estimating it to be 182.70% for the next quarter.

RKLY Dividends

Rockley Photonics Holdings Limited is more likely to be releasing its next quarterly report on November 15 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Rockley Photonics Holdings Limited (NYSE:RKLY)’s Major holders

Insiders are in possession of 25.02% of company’s total shares while institution are holding 14.72 percent of that, with stock having share float percentage of 19.64%. Investors also watch the number of corporate investors in a company very closely, which is 14.72% institutions for Rockley Photonics Holdings Limited that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at RKLY for having 1.49 million shares of worth $6.01 million. And as of Mar 30, 2022, it was holding 1.15% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group, Inc. (The), which was holding about 1.28 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 0.99% of outstanding shares, having a total worth of $5.16 million.

On the other hand, iShares Russell 2000 ETF and Vanguard Extended Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 2.1 million shares of worth $4.57 million or 1.61% of the total outstanding shares. The later fund manager was in possession of 1.19 million shares on Mar 30, 2022, making its stake of worth around $4.79 million in the company or a holder of 0.91% of company’s stock.

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