Why Fluidigm Stock Is Sinking Today
Shares of Fluidigm (NASDAQ: FLDM) were sinking 18.1% lower as of 11:28 a.m. EST on Thurday. The big decline came after the biotechnology tools provider announced its fourth-quarter results following the market close on Wednesday.
Fluidigm reported that its revenue in the fourth quarter jumped 38% year over year to $44.6 million. This result was well below the average analysts estimate of $50.7 million. The company posted an adjusted net loss of $9.8 million, or $0.13 per share. This was worse than the consensus estimate of a loss of $0.07 per share.
Investors were likely especially concerned about Fluidigm's full-year 2021 guidance. The company expects revenue of between $140 million and $150 million. The midpoint of that range is well below the average analyst estimate of $198.3 million.
Source Fool.com
