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Standard BioTools Inc. (NASDAQ:LAB) Lost -8.84% In A Week: What’s Driving The Stock?

In last trading session, Standard BioTools Inc. (NASDAQ:LAB) saw 0.14 million shares changing hands with its beta currently measuring 1.25. Company’s recent per share price level of $1.34 trading at $0.02 or 1.52% at ring of the bell on the day assigns it a market valuation of $105.51M. That closing price of LAB’s stock is at a discount of -261.94% from its 52-week high price of $4.85 and is indicating a premium of 31.34% from its 52-week low price of $0.92. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.33 million shares which gives us an average trading volume of 314.29K if we extend that period to 3-months.

For Standard BioTools Inc. (LAB), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 1 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0 in the current quarter.

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Standard BioTools Inc. (NASDAQ:LAB) trade information

Upright in the green during last session for gaining 1.52%, in the last five days LAB remained trading in the red while hitting it’s week-highest on Friday, 11/18/22 when the stock touched $1.34 price level, adding 9.76% to its value on the day. Standard BioTools Inc.’s shares saw a change of -65.82% in year-to-date performance and have moved -8.84% in past 5-day. Standard BioTools Inc. (NASDAQ:LAB) showed a performance of 8.94% in past 30-days. Number of shares sold short was 3.62 million shares which calculate 12.88 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $6.00 to the stock, which implies a rise of 77.67% to its current value. Analysts have been projecting $6.00 as a low price target for the stock while placing it at a high target of $6.00. It follows that stock’s current price would drop -347.76% in reaching the projected high whereas dropping to the targeted low would mean a loss of -347.76% for stock’s current value.

Standard BioTools Inc. (LAB) estimates and forecasts

This year revenue growth is estimated to fall -4.70% from the last financial year’s standing.

1 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $26.5 million for the same. And 1 analysts are in estimates of company making revenue of $18.78 million in the next quarter that will end on Jun 2022. Company posted $32.79 million and $31.02 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -19.20% while estimating it to be -39.50% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 21.50% during past 5 years.

LAB Dividends

Standard BioTools Inc. is more likely to be releasing its next quarterly report between February 15 and February 20 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.

Standard BioTools Inc. (NASDAQ:LAB)’s Major holders

Insiders are in possession of 2.02% of company’s total shares while institution are holding 78.98 percent of that, with stock having share float percentage of 80.60%. Investors also watch the number of corporate investors in a company very closely, which is 78.98% institutions for Standard BioTools Inc. that are currently holding shares of the company. Indaba Capital Management, L.P. is the top institutional holder at LAB for having 7.45 million shares of worth $11.91 million. And as of Jun 29, 2022, it was holding 9.47% of the company’s outstanding shares.

The second largest institutional holder is Primecap Management Company, which was holding about 4.96 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 6.30% of outstanding shares, having a total worth of $7.93 million.

On the other hand, Primecap Odyssey Aggressive Growth Fund and Needham Small Cap Growth Fund are the top two Mutual Funds which own company’s shares. As of Jul 30, 2022, the former fund manager was holding 4.0 million shares of worth $5.8 million or 5.09% of the total outstanding shares. The later fund manager was in possession of 3.66 million shares on Jun 29, 2022, making its stake of worth around $5.85 million in the company or a holder of 4.65% of company’s stock.

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