Standard BioTools Inc (NASDAQ:LAB) shares, rose in value, with the stock price up by 3.40% to the previous day’s close as strong demand from buyers drove the stock to $2.74.
Actively observing the price movement in the last trading, the stock closed the session at $2.65. The value of beta (5-year monthly) was 1.62. Referring to stock’s 52-week performance, its high was $3.16, and the low was $1.46. On the whole, LAB has fluctuated by 5.38% over the past month.
With the market capitalization of Standard BioTools Inc currently standing at about $1.05 billion, 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, which is expected to increase to $0 for fiscal year -$0.01 and then to about $0 by fiscal year 2025.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that LAB’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 75% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of LAB currently trading nearly 2.81% and 9.19% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 59.53, while the 7-day volatility ratio is showing 7.05% which for the 30-day chart, stands at 5.66%. Furthermore, Standard BioTools Inc (LAB)’s beta value is 1.64, and its average true range (ATR) is 0.16.
A comparison of Standard BioTools Inc (LAB) with its peers suggests the former has fared considerably weaker in the market. LAB showed an intraday change of 3.40% in last session, and over the past year, it grew by 52.22%%.
Data on historical trading for Standard BioTools Inc (NASDAQ:LAB) indicates that the trading volumes over the past 10 days have averaged 2.41 million and over the past 3 months, they’ve averaged 2.04 million. According to company’s latest data on outstanding shares, there are 383.05 million shares outstanding.
Nearly 2.56% of Standard BioTools Inc’s shares belong to company insiders and institutional investors own 48.32% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 9.26 million shares as on Mar 15, 2024, resulting in a short ratio of 4.91. According to the data, the short interest in Standard BioTools Inc (LAB) stood at 3.19% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 8.06 million. The stock has risen by 23.98% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the LAB stock heading into the next quarter.
