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Here’s why Berkshire Grey, Inc. (BGRY) Stock Rallied in Aftermarket Trading

Berkshire Grey, Inc. (BGRY) is basically a global and integrated AI and robotics for the automation of different needs of supply chain, and logistics programs. The company fills ecommerce orders automatedly, resupplying the stores and groceries and handling of the packages to fill the orders.

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The price of BGRY stock during the regular trading on January 11, 2022 with a slight decline of 1.88% was $4.18. At last check in the aftermarket, the stock skyrocketed by 14.83%.

BGRY: Events and Happenings

On January 11, 2022, BGRY reported that the company’s Executives will present at the Virtual 24th Annual Needham Growth Conference being held on January 12, 2022.

On December 08, 2021, BGRY reported about the introduction of its next generation Robotic Product Sortation (RPS) solution for fulfillment of different orders. It picks, sorts, and packs the items into the containers without the need for any operator interaction. The recent version has an exclusive double winged morphology to improve the speed up to 25%. RPS will support the customers looking to fully transform their operations with regards to increase in the labor shortages.

On November 11, 2021, BGRY reported about securing orders worth $36 million which represented $25 million repeated order from a customer and $11 million from recent customers. The milestone represented the pipeline of solutions installed in different localities in the future.

On November 11, 2021, BGRY reported about its selection by a priced-right apparel and home merchandise retailer namely Bealls, to handle its extensive merchandise sections and to quickly fulfill the orders. It helped Bealls to increase its processing capability to meet ever-increasing consumer demand.

BGRY: Key Financials

On November 11, 2021, BGRY reported its financial results for third quarter ended September 30, 2021. Some of the highlights are as follows

Revenue and Assets

Revenue collected was $18.8 million for the third quarter of 2021, while for same quarter prior year it was $2.2 million. An increase of $16.6 million or 750% was seen over the year period. Total current assets in Q3 2021 were $233.2 million.

Net Loss per Share

Basic and diluted net loss in Q3 2021 was $40.5 million or $0.22 per share as compared to the same period in 2020 when it was $14.1 million or $0.68 per share.

On November 03, 2021, BGRY reported about the general availability of the company’s lead product Robotic Shuttle Product Sortation (RSPS) solution for fulfillment of different orders for global deployments.

Conclusion

BGRY stock showed a huge declining trend of 58% from the past six months which was due to the slowing down of the economic uplift because of the prevailing pandemic situation. The current aftermarket rise is the result of BGRY’s announcement of presence at the Needham Growth Conference. The analysts are expectant further soaring of stock as a result of pipeline collaborations.

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