3 Stocks At 52-Week Lows That Could Bounce Big
An important indicator for investors to consider could be a stock's 52-week trading range, the range shows the lowest and highest price that a particular stock has traded at over the last trailing 52 weeks.
Here is a look at three stocks at 52-week lows that could bounce.
Berkeley Lights: Cell biology company Berkeley Lights (NASDAQ: BLI) went public in 2020 and saw shares double in five months. Shares have fallen since then and could be a buying opportunity at new 52-week lows set this week.
In late February, the company reported fourth-quarter revenue growth of 31% year-over-year to $21.7 million. Full fiscal year revenue was up 13% year-over-year to $64.3 million.
The company launched six new workflows in 2020, enabling customers to find the best cell in new applications. This brought the company’s total workflows to eight. The company grew its installed base 56% year-over-year in the fourth quarter to 75 platforms.
Going forward, the company announced plans to launch several new products including Opto Plasma B Discovery 4.0, which it says will “create a new gold standard for lead molecule discovery.”
The Ark Genomic Revolution ETF (BATS: ARKG) owns 2.7 million shares of Berkley Lights valued at $145.2 million. The stock represents 1.6% of the ETF’s assets.
Shares of Berkeley Lights have traded between $47.28 and $113.53 over the last 52 weeks.
DoorDash: Shares of DoorDash Inc (NYSE: DASH) hit new 52-week lows on March 9. The food delivery company has seen shares drop 25% in the last month alone.
DoorDash reported $970 million in revenue in the last full fiscal year, beating a Street consensus of $935 million. Fourth-quarter total orders were up 233% year-over-year to more than 273 million.
This was one of the hottest and most talked about IPOs of 2020. This could be a case of shares falling too far too fast.
Shares of DoorDash have traded between $130 and $256.09 over the last 52 weeks.
Related Link: Are Genomic Stocks The Next FANG Stocks
Array Technologies: In October 2020, Array Technologies (NASDAQ: ARRY) went public bringing a new solar stock offering for investors.
Shares have fallen from all-time highs hit in December and reached a new 52-week low last Friday.
The company, which manufactures ground-mounting systems used in solar energy products, reported fourth-quarter revenue of $180.6 million. The total was ahead of the Street consensus of $164 million.
Array Technologies is guiding for full fiscal 2021 revenue to be in a range of $1.03 billion to $1.13 billion compared to Street estimates of $989 million.
As part of its IPO, the company hit on its plan to capture additional growth from international markets. In the third quarter, the company had a backlog of $703 million of executed contracts and awarded orders.
President Joe Biden and the new administration are seen as positive catalysts for the solar industry.
Shares of Array Technologies have traded between $29.05 and $54.78 over the last 52 weeks.
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