BlackRock Fund Advisors recently announced the acquisition of new stake in Berkshire Grey Inc. (NASDAQ:BGRY). The institutional investor has increased its shareholding in the Industrials company by 6.65% to 2.16 million shares with purchase of 0.13 million shares. This fresh investment now brings its stake to 0.92% valued currently at $2.86 million. In addition, Congress Wealth Management LLC raised its holdings by 0.22 million to 1.08 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.03% or 7100.0 shares – to 0.7 million shares.
With over 4.26 million Berkshire Grey Inc. (BGRY) shares trading Friday and a closing price of $0.97 on the day, the dollar volume was approximately $4.14 million. The shares have shown a negative half year performance of -55.68% and its price on 03/10/23 lost nearly -14.87%. Currently, there are 234.68M common shares owned by the public and among those 220.06M shares have been available to trade.
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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 BGRY have a consensus price objective of $2.50. The analysts have set the share’s price value over the next 12 months at a high of $2.50 and a low of $2.50. The average price target is 70.15% above its recent price level and an upside to the estimated low will see the stock gain 61.2% over that period. But an upside of 61.2% will see the stock hit the forecast high price target while median target price for the stock is $2.50.
Insiders at the company have transacted a total of 7 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 641,669 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 Berkshire Grey Inc. are Global X Robotics & Artificial In, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. Global X Robotics & Artificial In owns 2.19 million shares of the company’s stock, all valued at over $2.89 million. iShares Russell 2000 ETF sold 3438.0 shares to bring its total holdings to over 1.08 million shares at a value of $1.43 million. iShares Russell 2000 ETF now owns shares totaling to 0.46% of the shares outstanding.
Shares of Berkshire Grey Inc. (NASDAQ: BGRY) opened at $1.10, down -$0.04 from a prior closing price of $1.14. However, the script later moved the day high at 1.1000, down -14.87%. The company’s stock has a 5-day price change of -24.18% and 19.90% over the past three months. BGRY shares are trading 60.71% year to date (YTD), with the 12-month market performance down to -73.84% lower. It has a 12-month low price of $0.51 and touched a high of $4.12 over the same period. BGRY has an average intraday trading volume of 1.43 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -28.35%, -15.31%, and -36.82% respectively.
Institutional ownership of Berkshire Grey Inc. (NASDAQ: BGRY) shares accounts for 83.20% of the company’s 234.68M shares outstanding. Mutual fund holders own 3.91%, while other institutional holders and individual stakeholders account for 4.55% and 1.82% respectively.
It has a market capitalization of $274.16M. The earnings-per-share (ttm) stands at -$0.49. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.82% over the week and 10.51% over the month.
Analysts forecast that Berkshire Grey Inc. (BGRY) will achieve an EPS of -$0.12 for the current quarter, $0 for the next quarter and -$0.45 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.12 while analysts give the company a high EPS estimate of -$0.12. Comparatively, EPS for the current quarter was -$0.16 a year ago. Earnings per share for the fiscal year are expected to decrease by -164.40%, and 6.20% 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 Berkshire Grey Inc. (BGRY) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BGRY, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on December 08, 2021, with the firm’s price target at $12. Credit Suisse coverage for the Berkshire Grey Inc. (BGRY) stock in a research note released on November 23, 2021 offered a Outperform rating with a price target of $10.
