Bluebird bio Inc (NASDAQ:BLUE) shares, rose in value, with the stock price down by -2.48% to the previous day’s close as strong demand from buyers drove the stock to $1.18.
Actively observing the price movement in the last trading, the stock closed the session at $1.21. The value of beta (5-year monthly) was 0.80. Referring to stock’s 52-week performance, its high was $5.53, and the low was $0.88. On the whole, BLUE has fluctuated by -22.88% over the past month.
With the market capitalization of Bluebird bio Inc currently standing at about $227.43 million, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.66, which is expected to increase to -$0.29 for fiscal year -$1.81 and then to about -$1.66 by fiscal year 2024. Data indicates that the EPS growth is expected to be 46.60% in 2024, while the next year’s EPS growth is forecast to be 8.30%.
Analysts have estimated the company’s revenue for the quarter at $10.8 million, with a low estimate of $7.7 million and a high estimate of $17.3 million. According to the average forecast, sales growth in current quarter could jump up 17,319.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $35.99 million, representing an increase of 900.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 2 upward and no downward review(s) in last seven days. We see that BLUE’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BLUE currently trading nearly -13.84% and -5.29% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.04, while the 7-day volatility ratio is showing 10.79% which for the 30-day chart, stands at 10.45%. Furthermore, Bluebird bio Inc (BLUE)’s beta value is 0.77, and its average true range (ATR) is 0.15.
A comparison of Bluebird bio Inc (BLUE) with its peers suggests the former has fared considerably weaker in the market. BLUE showed an intraday change of -2.48% in last session, and over the past year, it shrunk by -62.89%%.
Data on historical trading for Bluebird bio Inc (NASDAQ:BLUE) indicates that the trading volumes over the past 10 days have averaged 6.55 million and over the past 3 months, they’ve averaged 9.60 million. According to company’s latest data on outstanding shares, there are 192.74 million shares outstanding.
Nearly 1.51% of Bluebird bio Inc’s shares belong to company insiders and institutional investors own 67.31% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 34.04 million shares as on Mar 15, 2024, resulting in a short ratio of 2.91. According to the data, the short interest in Bluebird bio Inc (BLUE) stood at 17.66% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 28.59 million. The stock has fallen by -14.49% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BLUE stock heading into the next quarter.
