Stock traders buy high volume of Berkshire Gray put options (NASDAQ: BGRY)
Berkshire Grey, Inc. (NASDAQ:BGRY – Get Rating) was the recipient of unusually heavy options trading activity on Wednesday. Equity investors bought 1,113 put options on the company. This represents an increase of approximately 1,084% over the average daily volume of 94 put options.
NASDAQ BGRY shares opened at $2.25 on Thursday. Berkshire Gray has a 12-month low of $1.88 and a 12-month high of $10.55. The company has a current ratio of 3.23, a quick ratio of 3.17 and a debt ratio of 0.07. The company has a 50-day simple moving average of $2.45 and a 200-day simple moving average of $3.61.
Berkshire Gray (NASDAQ:BGRY – Get Rating) last released its results on Thursday, May 12. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). The company posted revenue of $5.49 million in the quarter, versus analyst estimates of $4.36 million. As a group, analysts expect Berkshire Gray to post -0.56 EPS for the current year.
A number of hedge funds have recently changed their positions in BGRY. Moore Capital Management LP purchased a new stake in Berkshire Gray stock during the third quarter valued at approximately $1,758,000. Arizona State Retirement System purchased a new equity stake in Berkshire Gray during the fourth quarter, valued at approximately $66,000. NEA Management Company LLC purchased a new equity stake in Berkshire Gray during the third quarter valued at approximately $268,733,000. Capstone Investment Advisors LLC purchased a new stake in Berkshire Gray stock during the third quarter worth approximately $118,000. Finally, Hsbc Holdings PLC purchased a new equity stake in Berkshire Gray in the third quarter for $115,000. 81.41% of the shares are currently held by hedge funds and other institutional investors.
Several analysts have recently commented on the stock. Craig Hallum reduced his target price on Berkshire Gray shares from $15.00 to $8.00 in a Wednesday, March 30 research note. Credit Suisse Group cut its price target on Berkshire Gray shares from $10.00 to $8.00 and set an “outperform” rating for the company in a Wednesday, March 30 research note. Finally, Zacks Investment Research upgraded Berkshire Gray shares from a “sell” rating to a “hold” rating in a report released Tuesday.
About Berkshire Gray (Get a rating)
Berkshire Grey, Inc, an intelligent enterprise robotics company, provides AI-powered robotic solutions that automate supply chain operations in the United States and Japan. The company’s solutions automate the fulfillment of e-commerce orders for consumers or businesses, the fulfillment of orders to restock retail stores and grocery stores, and the management of packages shipped to fulfill those orders.
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