Cytek Biosciences, Inc. (NASDAQ:CTKB – Get Free Report) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totalling 5,470,000 shares, a decline of 13.7% from the July 15th total of 6,340,000 shares. Based on an average trading volume of 682,800 shares, the short-interest ratio is presently 8.0 days. Currently, 4.6% of the shares of the stock are short sold.
Wall Street Analysts Forecast Growth
Separately, Piper Sandler lowered their price target on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th.
Check Out Our Latest Stock Report on CTKB
Institutional Trading of Cytek Biosciences
Cytek Biosciences Stock Performance
Shares of Cytek Biosciences stock traded up $0.04 during trading on Monday, reaching $5.53. 451,157 shares of the company’s stock were exchanged, compared to its average volume of 700,476. Cytek Biosciences has a 1-year low of $3.80 and a 1-year high of $9.87. The company has a market cap of $725.94 million, a P/E ratio of -61.44 and a beta of 1.33. The firm’s 50-day moving average price is $5.86 and its 200 day moving average price is $6.46.
Cytek Biosciences (NASDAQ:CTKB – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The business had revenue of $46.62 million for the quarter, compared to analyst estimates of $49.02 million. Cytek Biosciences had a negative return on equity of 1.78% and a negative net margin of 5.73%. During the same period last year, the firm posted ($0.02) EPS. As a group, equities research analysts predict that Cytek Biosciences will post -0.06 EPS for the current year.
Cytek Biosciences Company Profile
Cytek Biosciences, Inc, a cell analysis solutions company, provides cell analysis tools that facilitates scientific advances in biomedical research and clinical applications. It offers aurora and northern lights systems, which are spectrum flow cytometers that delivers cell analysis by utilizing the fluorescence signatures from multiple lasers to distinguish fluorescent tags on single cells; and aurora cell sorter system that leverages full spectrum profiling technology to further broaden potential applications across cell analysis; aurora CS systems; amnis imagestream imaging flow cytometers; guava muse cell analyzers; guava easycyte flow cytometers; and orion reagent cocktail preparation systems.
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