Cytek Biosciences (NASDAQ:CTKB – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03, Zacks reports. The firm had revenue of $51.50 million during the quarter, compared to analysts’ expectations of $50.63 million. Cytek Biosciences had a negative return on equity of 3.75% and a negative net margin of 8.88%. During the same period in the previous year, the business posted ($0.03) EPS. Cytek Biosciences updated its FY 2024 guidance to EPS.
Cytek Biosciences Trading Up 29.6 %
Shares of NASDAQ:CTKB traded up $1.61 during mid-day trading on Wednesday, reaching $7.05. The stock had a trading volume of 2,539,782 shares, compared to its average volume of 678,927. The firm has a market cap of $927.15 million, a PE ratio of -50.50 and a beta of 1.32. The firm has a 50 day simple moving average of $5.20 and a two-hundred day simple moving average of $5.64. Cytek Biosciences has a twelve month low of $3.80 and a twelve month high of $9.87.
Wall Street Analyst Weigh In
Separately, Piper Sandler dropped their price objective on Cytek Biosciences from $8.50 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th.
About Cytek Biosciences
Cytek Biosciences, Inc, a cell analysis solutions company, provides cell analysis tools that facilitates scientific advances in biomedical research and clinical applications. It offers aurora and northern lights systems, which are spectrum flow cytometers that delivers cell analysis by utilizing the fluorescence signatures from multiple lasers to distinguish fluorescent tags on single cells; and aurora cell sorter system that leverages full spectrum profiling technology to further broaden potential applications across cell analysis; aurora CS systems; amnis imagestream imaging flow cytometers; guava muse cell analyzers; guava easycyte flow cytometers; and orion reagent cocktail preparation systems.
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