Pacific Biosciences of California Inc (NASDAQ:PACB) shares, rose in value, with the stock price up by 4.85% to the previous day’s close as strong demand from buyers drove the stock to $2.16.
Actively observing the price movement in the last trading, the stock closed the session at $2.06, falling within a range of $2.015 and $2.4. The value of beta (5-year monthly) was 2.045. Referring to stock’s 52-week performance, its high was $10.65, and the low was $1.16. On the whole, PACB has fluctuated by 33.33% over the past month.
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With the market capitalization of Pacific Biosciences of California Inc currently standing at about $588.66 million, investors are eagerly awaiting this quarter’s results, scheduled for in November.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 166.51M, with a low estimate of 39M and a high estimate of 45M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 41.96M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that PACB’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the price of PACB currently trading nearly 17.04% and 25.64% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 63.88, while the 7-day volatility ratio is showing 10.06% which for the 30-day chart, stands at 9.59%. Furthermore, Pacific Biosciences of California Inc (PACB)’s beta value is 2.05, and its average true range (ATR) is 0.18.
A comparison of Pacific Biosciences of California Inc (PACB) with its peers suggests the former has fared considerably weaker in the market. PACB showed an intraday change of 4.85% in last session, and over the past year, it shrunk by -69.62%%.
Data on historical trading for Pacific Biosciences of California Inc (NASDAQ:PACB) indicates that the trading volumes over the past 10 days have averaged 6.31 and over the past 3 months, they’ve averaged 8.07 million. According to company’s latest data on outstanding shares, there are 267.74 million shares outstanding.
Nearly 4.83% of Pacific Biosciences of California Inc’s shares belong to company insiders and institutional investors own 83.70% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 48.54 million shares as on 2024-10-15, resulting in a short ratio of 5.67. According to the data, the short interest in Pacific Biosciences of California Inc (PACB) stood at 2052.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 46.53 million. The stock has fallen by -77.98% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PACB stock heading into the next quarter.
