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Rockley Photonics Leaps in Heavy Trading on Speculation Apple Will Add Health Features to Smartwatch
MT NEWSWIRES - 57 MINUTES AGO
03:27 PM EDT, 09/01/2021 (MT Newswires) -- Rockley Photonics (RKLY) shares were up nearly 32% Wednesday afternoon in heavy trading amid rumors that Apple (AAPL) , the company's biggest customer, will introduce a smartwatch with new health features at a virtual event in mid-September.

UK-based Rockley develops photonic intergrated circuits and offers a suite of health sensors.Trading volume in Rockley's shares surged to nearly 3.8 million by the late afternoon versus a daily average of about 250,000, according to data compiled by Yahoo Finance.

The company said in a recent securities filing its operating results "for the foreseeable future will continue to depend to a significant extent on revenue attributable to a few large customers, including Apple Inc. (AAPL), Rockley's largest customer, and Hengtong Rockley Technology Co., Ltd., its second largest customer."

In a statement Aug. 20, Rockley said it will participate in Deutsche Bank's 2021 Technology Conference on Sept. 9.

Baird recently started coverage of Rockley's stock at outperform with a $18 price target.

Price: 9.02, Change: +2.01, Percent Change: +28.67

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