As of Friday close, Cytek Biosciences Inc.’s (NASDAQ:CTKB) stock was down -$0.04, moving down -0.47 percent to $8.46. The average number of shares traded per day over the past five days has been 716,540 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.93 fall in that time frame. In the last twenty days, the average volume was 711,705, while in the previous 50 days, it was 757,428.
Since last month, CTKB stock retreated -4.62%. Shares of the company fell to $8.33 on 08/18/23, the lowest level in the past month. A 52-week high of $15.90 was reached on 02/10/23 after having rallying from a 52-week low of $6.45. Since the beginning of this year, CTKB’s stock price has dropped by -17.14% or -$1.75, and marked a new high 13 times. However, the stock has declined by -46.79% since its 52-week high.
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CTKB stock investors should be aware that Cytek Biosciences Inc. (CTKB) stock had its last reported insider trading activity 12 days ago on Aug 07. Jiang Wenbin, the President and CEO of the company, disposed of 20,000 shares for $9.04 on Aug 07. It resulted in a $180,800 divestment by the insider. Yan Ming sold 20,000 shares at an average price of $8.76 on Jul 19. The insider now owns 7,830,258 shares following the transaction. On Jul 07, President and CEO Jiang Wenbin sold 20,000 shares at $8.48 apiece. The transaction was valued at $169,600.
Valuation Metrics
The stock’s beta is 0.43. Besides these, the trailing price-to-sales (P/S) ratio of 6.33, the price-to-book (PB) ratio of 2.71.
Financial Health
In the three months ended March 30, Cytek Biosciences Inc.’s quick ratio stood at 6.70, while its current ratio was 7.90, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 60.00% percent. In the year ended March 30, EBITDA margin amounted to 2.74%, whereas operating margins totaled -11.30%. Based on annual data, CTKB earned $100.97 million in gross profit and brought in $164.04 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -0.10%. Return on equity (ROE) for the past 12 months was -1.40%.
In Cytek Biosciences Inc.’s quarter-end financial report for March 30, it reported total debt of $1.88 million against cash and short-term investments of $167.29 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CTKB’s revenue rose 18.31% to $37.09 million during the quarter, while net income inched up to $49.16 million. While analysts expected Cytek Biosciences Inc. to report $0.03 quarterly earnings, the actual figure was $0 per share. During the quarter, the company generated -$5.1 million in EBITDA. The liabilities of Cytek Biosciences Inc. were 100.88 million at the end of its most recent quarter ended March 30, and its total debt was $16.21 million. The value of shareholders’ equity is $136.36 million.
Technical Picture
This quick technical analysis looks at Cytek Biosciences Inc.’s (CTKB) price momentum. With a historical volatility rate of 41.99%, the RSI 9-day stood at 37.46% on 18 August.
With respect to its five-day moving average, the current Cytek Biosciences Inc. price is down by -9.90% percent or -$0.93. At present, CTKB shares trade -4.94% below its 20-day simple moving average and -1.17% percent below its 100-day simple moving average. However, the stock is currently trading approximately +2.55% above its SMA50 and -45.49% below its SMA200.
Stochastic coefficient K was 9.93% and Stochastic coefficient D was 10.39%, while ATR was 0.36. Given the Stochastic reading of 12.26% for the 14-day period, the RSI (14) reading has been calculated as 41.95%. As of today, the MACD Oscillator reading stands at -0.38, while the 14-day reading stands at -0.44.
Analyst Ratings
Raymond James launched its rating on Cytek Biosciences Inc. (NASDAQ: CTKB) to a Mkt perform in a note to investors on July 19, 2023. Cytek Biosciences Inc. (CTKB) has been rated Overweight by analysts. According to 0 brokerage firms, CTKB is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Cytek Biosciences Inc. stock as buy, with 3 recommending it as overweight.
With a median target price of $14.00, the current consensus forecast for the stock is $11.00 – $17.00. Based on these forecasts, analysts predict Cytek Biosciences Inc. (CTKB) will achieve an average price target of $14.00.
