Rockley Photonics (NYSE:RKLY) Stock Price Down 8.5%

Rockley Photonics Holdings Ltd (NYSE:RKLY) traded down 8.5% during trading on Tuesday . The stock traded as low as $6.06 and last traded at $6.06. 13,359 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 958,155 shares. The stock had previously closed at $6.62.

Several research analysts have recently commented on the stock. Bank of America assumed coverage on shares of Rockley Photonics in a report on Friday, September 17th. They issued a “buy” rating and a $14.00 price target for the company. Robert W. Baird initiated coverage on shares of Rockley Photonics in a research note on Wednesday, August 25th. They set an “outperform” rating and a $18.00 target price for the company. Needham & Company LLC initiated coverage on shares of Rockley Photonics in a research note on Tuesday, September 7th. They set a “buy” rating and a $15.00 target price for the company. Finally, Cowen initiated coverage on shares of Rockley Photonics in a research note on Thursday, September 9th. They set an “outperform” rating and a $22.00 target price for the company.

The stock’s 50 day moving average price is $7.65.

Rockley Photonics (NYSE:RKLY) last released its quarterly earnings results on Monday, November 15th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.27). As a group, equities research analysts predict that Rockley Photonics Holdings Ltd will post -0.78 EPS for the current fiscal year.

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

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in shares of Rockley Photonics in the 3rd quarter worth approximately $131,000. Goldman Sachs Group Inc. bought a new stake in shares of Rockley Photonics in the 3rd quarter worth approximately $113,000. Tudor Investment Corp Et Al bought a new stake in shares of Rockley Photonics in the 3rd quarter worth approximately $76,000. HighTower Advisors LLC bought a new stake in shares of Rockley Photonics in the 3rd quarter worth approximately $591,000. Finally, Balyasny Asset Management LLC bought a new stake in shares of Rockley Photonics in the 3rd quarter worth approximately $152,000. Institutional investors own 26.17% of the company’s stock.

About Rockley Photonics (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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