Bruker Sees Large Drop in Short Interest (BRKR)
Shares of Bruker (NASDAQ:BRKR) were the recipient of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 1,039,910 shares, a drop of 24.5% from the July 31st total of 1,378,227 shares, American Banking News reports. Currently, 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,082,078 shares, the days-to-cover ratio is presently 1.0 days.
BRKR has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Bruker from an “outperform” rating to a “neutral” rating in a research note on Monday, August 11th. They now have a $25.40 price target on the stock. Separately, analysts at Citigroup Inc. initiated coverage on shares of Bruker in a research note on Thursday, July 17th. They set a “buy” rating on the stock. Finally, analysts at ISI Group downgraded shares of Bruker from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 8th. They now have a $25.50 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $25.68.
Shares of Bruker (NASDAQ:BRKR) opened at 20.08 on Friday. Bruker has a 1-year low of $17.75 and a 1-year high of $24.93. The stock has a 50-day moving average of $21.51 and a 200-day moving average of $22.1. The company has a market cap of $3.369 billion and a price-to-earnings ratio of 43.77.
Bruker (NASDAQ:BRKR) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.02. The company had revenue of $457.40 million for the quarter, compared to the consensus estimate of $457.90 million. During the same quarter last year, the company posted $0.18 earnings per share. Bruker’s revenue was up .5% compared to the same quarter last year. On average, analysts predict that Bruker will post $0.80 earnings per share for the current fiscal year.
Bruker Corporation (NASDAQ:BRKR) is a global manufacturer of scientific instruments that address the rapidly evolving needs of a diverse array of customers in life science, pharmaceutical, biotechnology, clinical and molecular diagnostics research, as well as in materials and chemical analysis in various industries and government applications.
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