In the last trading session, 15.26 million Pacific Biosciences of California Inc (NASDAQ:PACB) shares changed hands as the company’s beta touched 2.00. With the company’s per share price at $2.46 changed hands at $0.16 or 6.96% during last session, the market valuation stood at $629.38M. PACB’s last price was a discount, traded about -332.93% off its 52-week high of $10.65. The share price had its 52-week low at $1.16, which suggests the last value was 52.85% up since then. When we look at Pacific Biosciences of California Inc’s average trading volume, we note the 10-day average is 13.11 million shares, with the 3-month average coming to 8.55 million.
Analysts gave the Pacific Biosciences of California Inc (PACB) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.19. If we narrow down to specifics, the data shows that 1 out of 11 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended PACB as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Pacific Biosciences of California Inc’s EPS for the current quarter is expected to be -0.19.
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Pacific Biosciences of California Inc (NASDAQ:PACB) trade information
Instantly PACB was in green as seen at the end of in last trading. With action -1.99%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -74.92%, with the 5-day performance at -1.99% in the red. However, in the 30-day time frame, Pacific Biosciences of California Inc (NASDAQ:PACB) is 24.24% up. Looking at the short shares, we see there were 48.54 million shares sold at short interest cover period of 5.67 days.
The consensus price target for the stock as assigned by Wall Street analysts is 3, meaning bulls need an upside of 18.0% from its current market value. According to analyst projections, PACB’s forecast low is 2 with 4 as the target high. To hit the forecast high, the stock’s price needs a -62.6% plunge from its current level, while the stock would need to tank 18.7% for it to hit the projected low.
Pacific Biosciences of California Inc (PACB) estimates and forecasts
Data shows that the Pacific Biosciences of California 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 27.46% over the past 6 months, a 14.41% in annual growth rate that is considerably lower than the industry average of 15.50%. Year-over-year growth is forecast to reach -20.10% down from the last financial year.
Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of 45.15M. 10 analysts are of the opinion that Pacific Biosciences of California Inc’s revenue for the current quarter will be 44.78M. The company’s revenue for the corresponding quarters a year ago was 58.36M and 42.96M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -22.60%. The estimates for the next quarter sales put growth at 4.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -9.76%. The 2024 estimates are for Pacific Biosciences of California Inc earnings to decrease by -12.49%, but the outlook for the next 5-year period is at -1.00% per year.
PACB Dividends
Pacific Biosciences of California Inc is expected to release its next quarterly earnings report in December.
Pacific Biosciences of California Inc (NASDAQ:PACB)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.87% of Pacific Biosciences of California Inc shares while 81.81% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 83.36%. There are 81.81% institutions holding the Pacific Biosciences of California Inc stock share, with ARK INVESTMENT MANAGEMENT LLC the top institutional holder. As of 2024-06-30, the company held 12.3202% of the shares, roughly 33.21 million PACB shares worth $45.5 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 9.6443% or 26.0 million shares worth $35.62 million as of 2024-06-30.
