In the latest trading session, 0.39 million Cytek BioSciences Inc (NASDAQ:CTKB) shares changed hands as the company’s beta touched 1.42. With the company’s most recent per share price at $6.46 changed hands at -$0.8 or -11.02% at last look, the market valuation stands at $832.12M. CTKB’s current price is a discount, trading about -44.43% off its 52-week high of $9.33. The share price had its 52-week low at $4.66, which suggests the last value was 27.86% up since then. When we look at Cytek BioSciences Inc’s average trading volume, we note the 10-day average is 0.72 million shares, with the 3-month average coming to 696.76K.
Analysts gave the Cytek BioSciences Inc (CTKB) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.67. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 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 0.11.
Cytek BioSciences Inc (NASDAQ:CTKB) trade information
Instantly CTKB was in red as seen in intraday trades today. With action -6.24%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -0.46%, with the 5-day performance at -6.24% in the red. However, in the 30-day time frame, Cytek BioSciences Inc (NASDAQ:CTKB) is -0.15% down. Looking at the short shares, we see there were 3.48 million shares sold at short interest cover period of 6.11 days.
The consensus price target for the stock as assigned by Wall Street analysts is 8.5, meaning bulls need an upside of 24.0% from its recent market value. According to analyst projections, CTKB’s forecast low is 8.5 with 8.5 as the target high. To hit the forecast high, the stock’s price needs a -31.58% plunge from its current level, while the stock would need to soar -31.58% 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 -3.00% over the past 6 months, a -160.00% in annual growth rate that is considerably lower than the industry average of 16.70%. Year-over-year growth is forecast to reach 5.85% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of 61.49M. 5 analysts are of the opinion that Cytek BioSciences Inc’s revenue for the current quarter will be 49.24M. The company’s revenue for the corresponding quarters a year ago was 58.6M and 44.86M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 4.92%. The estimates for the next quarter sales put growth at 9.75%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 8.21%. The 2025 estimates are for Cytek BioSciences Inc earnings to increase by 34.24%.
CTKB Dividends
Cytek BioSciences Inc is expected to release its next quarterly earnings report in February.
Cytek BioSciences Inc (NASDAQ:CTKB)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 8.85% of Cytek BioSciences Inc shares while 59.07% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 64.81%. There are 59.07% institutions holding the Cytek BioSciences Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 13.0387% of the shares, roughly 17.07 million CTKB shares worth $95.25 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 8.972% or 11.75 million shares worth $65.54 million as of 2024-06-30.
Among Mutual Funds, the top two as of Oct 31, 2024 were iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. With 6.82 shares estimated at $42.28 million under it, the former controlled 5.29% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.70% of the shares, roughly 3.47 shares worth around $21.54 million.
