Bolt Projects (NASDAQ:BSLK) Stock Rating Lowered by Wall Street Zen

Bolt Projects (NASDAQ:BSLK) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

Bolt Projects Stock Performance

Shares of NASDAQ BSLK opened at $8.79 on Friday. Bolt Projects has a 52-week low of $1.75 and a 52-week high of $116.20. The firm has a 50 day moving average price of $2.98 and a two-hundred day moving average price of $5.15. The stock has a market cap of $18.11 million, a P/E ratio of -3.38 and a beta of 0.17.

Bolt Projects (NASDAQ:BSLK) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($2.20) earnings per share for the quarter. The company had revenue of $1.30 million during the quarter.

Insider Buying and Selling at Bolt Projects

In related news, CFO Randy Befumo purchased 29,500 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was bought at an average price of $2.28 per share, with a total value of $67,260.00. Following the completion of the purchase, the chief financial officer owned 51,763 shares in the company, valued at approximately $118,019.64. This represents a 132.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 16.90% of the company’s stock.

Institutional Trading of Bolt Projects

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Bolt Projects by 307.5% during the 4th quarter. Geode Capital Management LLC now owns 58,838 shares of the company’s stock valued at $29,000 after purchasing an additional 44,400 shares during the period. AREX Capital Management LP acquired a new stake in shares of Bolt Projects during the fourth quarter worth $376,000. Finally, XTX Topco Ltd acquired a new stake in shares of Bolt Projects during the fourth quarter worth $27,000. Institutional investors and hedge funds own 5.52% of the company’s stock.

About Bolt Projects

Bolt Projects Holdings, Inc operates as a material solutions company. The company offers B-SILK PROTEIN, a biodegradable ingredient for the beauty and personal care industry. Its products also include MYLO, a mycelium-based leather material; and MICROSILK, a silk fiber. The company is based in San Francisco, California.