Pacific Biosciences of California Inc. (NASDAQ:PACB)’s traded shares stood at 4.52 million during the last session, with the company’s beta value hitting 1.64. At the close of trading, the stock’s price was $9.06, to imply an increase of 3.78% or $0.33 in intraday trading. The PACB share’s 52-week high remains $14.20, putting it -56.73% down since that peak but still an impressive 57.51% since price per share fell to its 52-week low of $3.85. The company has a valuation of $2.37B, with an average of 4.31 million shares in intraday trading volume over the past 10 days and average of 4.23 million shares over the past 3 months.
Analysts have given a consensus recommendation of an Overweight for Pacific Biosciences of California Inc. (PACB), translating to a mean rating of 2.50. Of 8 analyst(s) looking at the stock, 0 analyst(s) give PACB a Sell rating. 0 of those analysts rate the stock as Overweight while 5 advise Hold as 3 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.36.
Top 5 EV Tech Stocks to Buy for 2023
According a new report published by BloombergNEF on investment in the energy transition, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now.
Click Here to Download the FREE Report.
Pacific Biosciences of California Inc. (NASDAQ:PACB) trade information
After registering a 3.78% upside in the last session, Pacific Biosciences of California Inc. (PACB) has traded red over the past five days. The stock hit a weekly high of 9.22 this Wednesday, 03/15/23, jumping 3.78% in its intraday price action. The 5-day price performance for the stock is 1.80%, and -11.70% over 30 days. With these gigs, the year-to-date price performance is 10.76%. Short interest in Pacific Biosciences of California Inc. (NASDAQ:PACB) saw shorts transact 24.2 million shares and set a 6.37 days time to cover.
Analysts on Wall Street suggest a consensus price target of $12.13, implying an increase of 25.31% to the stock’s current value. The extremes give us $10.00 and $14.00 for target low and target high price respectively. As such, PACB has been trading -54.53% off suggested target high and -10.38% from its likely low.
Pacific Biosciences of California Inc. (PACB) estimates and forecasts
Looking at statistics comparing Pacific Biosciences of California Inc. share performance against respective industry, we note that the company has outperformed competitors. Pacific Biosciences of California Inc. (PACB) shares are 47.56% up over the last 6 months, with its year-to-date growth rate higher than industry average at 10.14% against 5.70%. Revenue is forecast to shrink -16.10% this quarter before jumping 5.40% for the next one. The rating firms project that company’s revenue will shrink -2.30% compared to the previous financial year.
Revenue forecast for the current quarter as set by 7 analysts is $26.24 million. Meanwhile, for the quarter ending Mar 2023, a total of 7 analyst(s) estimate revenue growth to $34.99 million.Earnings reports from the last fiscal year show that sales brought in $36.02 million and $33.17 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -27.10% before jumping 5.50% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -9.90% for the past 5-year period. While 2023 is set for a -57.60% return in earnings, projections for the next 5 years are at -1.00% annually.
Pacific Biosciences of California Inc. has its next earnings report out between May 02 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Pacific Biosciences of California Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Pacific Biosciences of California Inc. (NASDAQ:PACB)’s Major holders
Pacific Biosciences of California Inc. insiders hold 8.02% of total outstanding shares, with institutional holders owning 81.72% of the shares at 88.85% float percentage. In total, 81.72% institutions holds shares in the company, led by ARK Investment Management, LLC. As of Dec 30, 2022, the company held over 25.69 million shares (or 11.36% of shares), all amounting to roughly $210.16 million.
The next major institution holding the largest number of shares is Jackson Square Partners, Llc with 20.26 million shares, or about 8.96% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $117.6 million.
We also have ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF as the top two Mutual Funds with the largest holdings of the Pacific Biosciences of California Inc. (PACB) shares. Going by data provided on Dec 30, 2022, ARK ETF Tr-ARK Innovation ETF holds roughly 13.04 million shares. This is just over 5.77% of the total shares, with a market valuation of $106.68 million. Data from the same date shows that the other fund manager holds a little less at 10.89 million, or 4.81% of the shares, all valued at about 89.06 million.