Bank of America, NA recently announced the acquisition of new stake in Pulse Biosciences Inc. (NASDAQ:PLSE). The institutional investor has increased its shareholding in the Healthcare company by 0.03% to 0.77 million shares with purchase of 196.0 shares. This fresh investment now brings its stake to 2.07% valued currently at $2.13 million. In addition, Griffin Asset Management, Inc. raised its holdings by 90059.0 to 0.18 million shares. And Northern Trust Investments, Inc. has lifted its position by 2.94% or 2117.0 shares – to 74170.0 shares.
With over 78448.0 Pulse Biosciences Inc. (PLSE) shares trading Tuesday and a closing price of $2.98 on the day, the dollar volume was approximately $0.23 million. The shares have shown a positive half year performance of 78.44% and its price on 01/24/23 gained nearly 3.47%. Currently, there are 37.16M common shares owned by the public and among those 16.12M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for PLSE have a consensus price objective of $5.00. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $5.00. But an upside of 40.4% will see the stock hit the forecast high price target while median target price for the stock is $5.00.
Insiders at the company have transacted a total of 15 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 5,907,679 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Pulse Biosciences Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.35 million shares of the company’s stock, all valued at over $0.97 million. Vanguard Extended Market Index Fu bought 301.0 shares to see its total holdings expand to 0.19 million shares valued at over $0.53 million and representing 0.51% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.20% of the shares outstanding.
However, the script later moved the day high at 2.9900, up 3.47%. The company’s stock has a 5-day price change of -12.09% and 34.23% over the past three months. PLSE shares are trading 7.58% year to date (YTD), with the 12-month market performance down to -73.32% lower. It has a 12-month low price of $1.18 and touched a high of $13.36 over the same period. PLSE has an average intraday trading volume of 88.10K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.70%, 18.32%, and 37.25% respectively.
Institutional ownership of Pulse Biosciences Inc. (NASDAQ: PLSE) shares accounts for 6.60% of the company’s 37.16M shares outstanding. Mutual fund holders own 4.66%, while other institutional holders and individual stakeholders account for 83.99% and 2.14% respectively.
It has a market capitalization of $112.50M and a beta (3y monthly) value of 1.09. The earnings-per-share (ttm) stands at -$2.03. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.58% over the week and 9.57% over the month.
Analysts forecast that Pulse Biosciences Inc. (PLSE) will achieve an EPS of -$0.45 for the current quarter, -$0.29 for the next quarter and -$1.17 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.45 while analysts give the company a high EPS estimate of -$0.45. Comparatively, EPS for the current quarter was -$0.48 a year ago. Earnings per share for the fiscal year are expected to decrease by -6.20%, and 51.40% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Pulse Biosciences Inc. (PLSE) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PLSE, a number of firms have released research notes about the stock. Stephens stated their Overweight rating for the stock in a research note on July 27, 2021, with the firm’s price target at $28. Maxim Group coverage for the Pulse Biosciences Inc. (PLSE) stock in a research note released on March 11, 2021 offered a Buy rating with a price target of $40. H.C. Wainwright was of a view on January 26, 2021 that the stock is Buy, while H.C. Wainwright gave the stock Buy rating on May 12, 2020, issuing a price target of $6- $16. H.C. Wainwright on their part issued Neutral rating on February 14, 2020.