In the last trading session, 1.39 million Cytek BioSciences Inc (NASDAQ:CTKB) shares changed hands as the company’s beta touched 1.04. With the company’s per share price at $6.08 changed hands at $0.1 or 1.67% during last session, the market valuation stood at $824.14M. CTKB’s last price was a discount, traded about -144.24% off its 52-week high of $14.85. The share price had its 52-week low at $3.80, which suggests the last value was 37.5% up since then. When we look at Cytek BioSciences Inc’s average trading volume, we note the 10-day average is 1.2 million shares, with the 3-month average coming to 1.04 million.
Analysts gave the Cytek BioSciences Inc (CTKB) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.80. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended CTKB as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Cytek BioSciences Inc’s EPS for the current quarter is expected to be $Qwest Corporation 6.5% Notes du.
Cytek BioSciences Inc (NASDAQ:CTKB) trade information
Instantly CTKB was in green as seen at the end of in last trading. With action 22.58%, the performance over the past five days has been green. The jump to weekly highs of 6.12 on Monday, 11/20/23 added 1.67% to the stock’s daily price. The company’s shares are showing year-to-date downside of -40.45%, with the 5-day performance at 22.58% in the green. However, in the 30-day time frame, Cytek BioSciences Inc (NASDAQ:CTKB) is 30.47% up. Looking at the short shares, we see there were 7.92 million shares sold at short interest cover period of 7.6 days.
The consensus price target for the stock as assigned by Wall Street analysts is $9.50, meaning bulls need an upside of 36.0% from its current market value. According to analyst projections, CTKB’s forecast low is $7.00 with $12.00 as the target high. To hit the forecast high, the stock’s price needs a -97.37% plunge from its current level, while the stock would need to soar -15.13% for it to hit the projected low.
Cytek BioSciences Inc (CTKB) estimates and forecasts
Data shows that the Cytek BioSciences Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -22.74% over the past 6 months, a -66.67% in annual growth rate that is considerably lower than the industry average of 14.90%.
The 2023 estimates are for Cytek BioSciences Inc earnings to decrease by -390.00%.
Cytek BioSciences Inc is expected to release its next quarterly earnings report on November 07.
Cytek BioSciences Inc (NASDAQ:CTKB)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 11.57% of Cytek BioSciences Inc shares while 55.20% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 62.42%. There are 55.20% institutions holding the Cytek BioSciences Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 11.09% of the shares, roughly 15.13 million CTKB shares worth $129.19 million.
RA Capital Management, L.P. holds the second largest percentage of outstanding shares, with 9.02% or 12.3 million shares worth $105.02 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and Brown Capital Management Small Company Fund. With 6.73 million shares estimated at $37.13 million under it, the former controlled 4.93% of total outstanding shares. On the other hand, Brown Capital Management Small Company Fund held about 3.98% of the shares, roughly 5.43 million shares worth around $46.34 million.