Berkshire Grey falls after downbeat revenue forecast

Berkshire Grey

29/03/2022 18:40

** AI technology firm's  BGRY.O  shares down 5.96% at $3.31
in afternoon trade 
    ** Co says it expects FY22 revenue to be about $90 mln, well
below Wall Street estimate of $104.8 mln, as per Refinitiv data
 urn:newsml:reuters.com:*:nGNXbJ5YhG 
    ** BGRY posts Q4 revenue of $23.6 mln vs analysts' avg.
estimate of $22 mln 
    ** Sees robust demand for AI-enabled robotic automation
fueling its growth
    ** Three of four brokerages rate the stock "buy" or higher,
one "hold"; their median PT is $12 - Refinitiv data 
    ** Including session losses, shares down ~39.8% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))