Stock Traders Buy High Volume of Berkshire Grey Put Options (NASDAQ:BGRY)

Posted by Defense World Staff on Jun 15th, 2023

Berkshire Grey, Inc. (NASDAQ:BGRY – Get Rating) saw unusually large options trading activity on Wednesday. Stock investors bought 1,113 put options on the company. This is an increase of 1,084% compared to the average volume of 94 put options.

Institutional Investors Weigh In On Berkshire Grey

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MYDA Advisors LLC acquired a new stake in shares of Berkshire Grey in the third quarter valued at approximately $53,000. Virtu Financial LLC acquired a new position in shares of Berkshire Grey in the third quarter worth $34,000. SG Americas Securities LLC purchased a new stake in shares of Berkshire Grey in the first quarter valued at $28,000. Wolverine Asset Management LLC lifted its position in shares of Berkshire Grey by 820.3% in the first quarter. Wolverine Asset Management LLC now owns 19,585 shares of the company’s stock valued at $27,000 after acquiring an additional 17,457 shares in the last quarter. Finally, Arete Wealth Advisors LLC acquired a new stake in shares of Berkshire Grey during the first quarter valued at $14,766,000,000. 80.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Craig Hallum lowered Berkshire Grey from a “buy” rating to a “hold” rating and lowered their price target for the stock from $2.50 to $1.40 in a research report on Monday, March 27th.

Berkshire Grey Stock Performance

Shares of BGRY stock opened at $1.38 on Thursday. Berkshire Grey has a 52-week low of $0.51 and a 52-week high of $2.95. The stock’s 50-day moving average price is $1.38 and its 200 day moving average price is $1.18. The company has a quick ratio of 1.53, a current ratio of 1.78 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $335.02 million, a PE ratio of -2.87 and a beta of 1.77.

Berkshire Grey (NASDAQ:BGRY – Get Rating) last posted its quarterly earnings results on Wednesday, March 29th. The company reported ($0.11) earnings per share (EPS) for the quarter. Berkshire Grey had a negative return on equity of 157.23% and a negative net margin of 173.57%. The firm had revenue of $13.31 million for the quarter. As a group, equities research analysts forecast that Berkshire Grey will post -0.53 EPS for the current year.

About Berkshire Grey

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Berkshire Grey, Inc, an intelligent enterprise robotics company, provides AI-enabled robotic solutions that automate supply chain operations in the United States and Japan. The company's solutions automate filling ecommerce orders for consumers or businesses, filling orders to resupply retail stores and groceries, and handling packages shipped to fill those orders.