Rockley Photonics (NYSE:RKLY) Stock Price Up 4.5%

Rockley Photonics Holdings Ltd (NYSE:RKLY) rose 4.5% during trading on Thursday . The stock traded as high as $3.95 and last traded at $3.95. Approximately 15,858 shares were traded during trading, a decline of 98% from the average daily volume of 691,772 shares. The stock had previously closed at $3.78.

Separately, Bank of America lowered Rockley Photonics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $14.00 to $6.00 in a report on Wednesday, December 22nd.

The firm has a fifty day simple moving average of $5.44. The company has a market cap of $451.63 million, a price-to-earnings ratio of -6.57 and a beta of -0.26.

Rockley Photonics (NYSE:RKLY) last posted its quarterly earnings results on Monday, November 15th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.27). The firm had revenue of $1.84 million during the quarter. As a group, sell-side analysts forecast that Rockley Photonics Holdings Ltd will post -1.59 EPS for the current fiscal year.

In related news, Director William Huyett acquired 25,000 shares of Rockley Photonics stock in a transaction that occurred on Tuesday, November 23rd. The shares were purchased at an average cost of $6.59 per share, for a total transaction of $164,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 24.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Tudor Investment Corp Et Al purchased a new stake in Rockley Photonics in the 3rd quarter valued at about $76,000. Clarius Group LLC purchased a new stake in Rockley Photonics in the 3rd quarter valued at about $95,000. Goldman Sachs Group Inc. purchased a new stake in Rockley Photonics during the third quarter worth about $113,000. Penserra Capital Management LLC purchased a new stake in Rockley Photonics during the third quarter worth about $120,000. Finally, Jane Street Group LLC purchased a new stake in Rockley Photonics during the third quarter worth about $131,000. Hedge funds and other institutional investors own 26.45% of the company’s stock.

Rockley Photonics Company Profile (NYSE:RKLY)

Rockley Photonics Ltd. is a supplier of integrated silicon photonic chips and modules across multiple markets. Rockley Photonics Ltd., formerly known as SC Health Corp., is based in PASADENA, Calif.

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