Pacific Biosciences of California Inc (NASDAQ:PACB) price on Thursday, May 22, fall -4.05% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $0.94.
A look at the stock’s price movement, the close in the last trading session was $0.98. Turning to its 52-week performance, $2.72 and $0.95 were the 52-week high and 52-week low respectively. Overall, PACB moved -19.53% over the past month.
Pacific Biosciences of California Inc’s market cap currently stands at around $282.53 million, with investors looking forward to this quarter’s earnings report slated for in June.
Analysts have a consensus estimate of 36.35M for the company’s revenue for the quarter, with a low and high estimate of 34M and 37.3M respectively. The average forecast suggests up to a 0.94% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 155.64M, representing a 1.06% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PACB is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
11 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 6 recommend PACB as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PACB’s current price about -13.42% and -20.24% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 32.34, while 7-day volatility ratio is 1.98% and 3.34% in the 30-day chart. Further, Pacific Biosciences of California Inc (PACB) has a beta value of 2.13, and an average true range (ATR) of 0.08. Analysts have given the company’s stock an average 52-week price target of $3, forecast between a low of $2 and high of $4. Looking at the price targets, the low is -112.77% off current price level while to achieve the yearly target high, price needs to move -325.53%. Nonetheless, investors will most likely welcome a -219.15% jump to $3 which is the analysts’ median price.
If we refocus on Pacific Biosciences of California Inc (NASDAQ:PACB), historical trading data shows that trading volumes averaged 8.61 million over the past 3 months. The company’s latest data on shares outstanding shows there are 300.04 million shares.
The 11.97% of Pacific Biosciences of California Inc’s shares are in the hands of company insiders while institutional holders own 65.69% of the company’s shares. Current price change has pushed the stock -48.55% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PACB stock continues to rise going into the next quarter.
