In the last trading session, 22.71 million shares of the Pacific Biosciences of California Inc (NASDAQ:PACB) were traded, and its beta was 1.96. Most recently the company’s share price was $1.60, and it changed around -$0.26 or -14.02% from the last close, which brings the market valuation of the company to $375.59M. PACB currently trades at a discount to its 52-week high of $10.65, offering almost -565.62% off that amount. The share price’s 52-week low was $1.16, which indicates that the current value has risen by an impressive 27.5% since then. We note from Pacific Biosciences of California Inc’s average daily trading volume that its 10-day average is 15.87 million shares, with the 3-month average coming to 8.95 million.
Pacific Biosciences of California Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.19. If we narrow it down even further, the data shows that 0 out of 16 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 8 recommended PACB as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Pacific Biosciences of California Inc is expected to report earnings per share of -0.18 for the current quarter.
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Pacific Biosciences of California Inc (NASDAQ:PACB) trade information
Instantly PACB has showed a red trend with a performance of -14.02% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 2.6600 on recent trading dayincreased the stock’s daily price by 39.85%. The company’s shares are currently down -83.74% year-to-date, but still down -30.65% over the last five days. On the other hand, Pacific Biosciences of California Inc (NASDAQ:PACB) is -16.05% down in the 30-day period. We can see from the shorts that 50.41 million shares have been sold at a short interest cover period of 6.88 day(s).
The consensus price target as assigned by Wall Street analysts is $3, which translates to bulls needing to increase their stock price by 46.67% from its current value. Analyst projections state that PACB is forecast to be at a low of $2 and a high of $4.
Pacific Biosciences of California Inc (PACB) estimates and forecasts
Pacific Biosciences of California Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -21.04 percent over the past six months and at a 18.02% annual growth rate that is well above the industry average of 15.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 34.79% in revenue this quarter, and will report an increase of 37.24% in the next quarter. The year-over-year growth rate is expected to be -21.94%, down from the previous year.
Consensus estimates provided by 13 financial analysts predict the company will bring in an average of 41.56M in revenue for the current quarter. 10 analysts expect Pacific Biosciences of California Inc to make 42.73M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 58.36M and 38.81M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -28.79%. Forecasts for the next quarter put sales growth at 10.11%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -9.76%. Pacific Biosciences of California Inc earnings are expected to increase by -12.86% in 2024, but the outlook is negative -1.00% per year for the next five years.
PACB Dividends
Pacific Biosciences of California Inc’s next quarterly earnings report is expected to be released in December.
Pacific Biosciences of California Inc (NASDAQ:PACB)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.85% of Pacific Biosciences of California Inc shares, and 82.37% of them are in the hands of institutional investors. The stock currently has a share float of 83.93%. Pacific Biosciences of California Inc stock is held by 319.0 institutions, with ARK INVESTMENT MANAGEMENT LLC being the largest institutional investor. By 2024-06-30, it held 12.3202% of the shares, which is about 33.21 million shares worth $45.5 million.
VANGUARD GROUP INC, with 9.6443% or 26.0 million shares worth $35.62 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
