Bolt Projects (NASDAQ:BSLK) Announces Quarterly Earnings Results

Bolt Projects (NASDAQ:BSLK) released its earnings results on Wednesday. The company reported ($2.70) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $0.37 million during the quarter.

Bolt Projects Stock Performance

Bolt Projects stock traded up $0.13 during trading hours on Wednesday, hitting $2.33. 472,134 shares of the stock were exchanged, compared to its average volume of 2,699,680. The stock has a market capitalization of $8.64 million, a P/E ratio of -0.90 and a beta of 0.17. The business’s 50-day moving average is $3.31 and its two-hundred day moving average is $3.77. Bolt Projects has a 12 month low of $1.75 and a 12 month high of $25.00.

Insider Buying and Selling at Bolt Projects

In other Bolt Projects news, CTO David Nate Breslauer bought 10,940 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was purchased at an average cost of $3.23 per share, with a total value of $35,336.20. Following the completion of the purchase, the chief technology officer owned 29,247 shares in the company, valued at approximately $94,467.81. The trade was a 59.76% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Daniel Matthew Widmaier acquired 13,374 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were acquired at an average price of $3.81 per share, for a total transaction of $50,954.94. Following the acquisition, the chief executive officer directly owned 36,805 shares in the company, valued at $140,227.05. This represents a 57.08% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 29,455 shares of company stock worth $106,238 in the last ninety days. 10.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Bolt Projects in a research report on Wednesday, October 8th. Wall Street Zen cut Bolt Projects from a “hold” rating to a “strong sell” rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Bolt Projects presently has an average rating of “Sell”.

About Bolt Projects

Bolt Projects Holdings, Inc operates as a material solutions company. The company offers B-SILK PROTEIN, a biodegradable ingredient for the beauty and personal care industry. Its products also include MYLO, a mycelium-based leather material; and MICROSILK, a silk fiber. The company is based in San Francisco, California.