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Why Fluidigm Corporation (FLDM) stock was down in Friday’s aftermarket?

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Shares of Fluidigm Corporation (FLDM) stock, a biotechnology tools provider,  were continued the downtrend on the Friday aftermarket session after dropping by 1.49% at the previous closing. FLDM stock price went down by 3.89% to drop at $4.45 a share in the late hours of Friday 16, 2021. Let’s see the reason behind this bearish sentiment.

What’s happening?

There is no major culprit behind the falling FLDM stock price, no recent news, no analysts’ downgrades or shrank the targeted per share price of FLDM stock to justify the bearish sentiment. Sometimes stock falls due to filing against it by any law firm but this fact doesn’t support the down FLDM. This is something confusing for investors who are looking for some news related to FLDM. So what you need to know at this point? Here are some previous events of FLDM stock.

On April 08, 2021, Fluidigm stock did announce that it will release its first-quarter earnings report on Thursday, May 6, 2021, after the closing of the market. The Chief Executive Officer of FLDM Chris Linthwaite and Chief Financial Officer Vikram Jog will host the conference and webcast.

The summary of the previously announced fourth quarter and fiscal results of 2020 is given below.

Fourth Quarter Results:

  • In the fourth quarter, FLDM revenue surged to $44.6 million from $32.4 million representing an increase of 38% in comparison with the same quarter of the previous year.
  • GAAP net loss for the reported quarter was increase to $18 million as compared to $12.7 million for the same quarter of the prior year while the non-GAAP net loss in the fourth quarter of 2020 was $9.8 million as compared to $2.3 million in the same tenure of the previous year.

The full Year 2020 Results:

  • Full-year revenue for the FLDM stock surged to $138.1 million from $117.2 million representing an 18 percent yearly increase.
  • GAAP net loss reduced to $53.0 million in 2020 from $64.8 million in 2019 while a non-GAAP net loss of FLDM stock reduced to $21.8 million in 2020 as compared to $23.7 million in 2019.

Conclusion:

FLDM stock is passing through a hard time as far as market sentiment is concerned but one should know that the stock market is unpredictable, and anything can happen at any time. The previous financial results were less than the analysts’ estimates but the highest ever revenue for the fourth quarter was the positive thing for the FLDM stock.

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