BioLife Solutions, Inc. (NASDAQ:BLFS) is a stock to watch today. At current price of $17.3, the shares have already lost -0.85 points (-4.68% lower) from its previous close of $18.15. The stock sets an active trading volume day with a reported 145693 contracts so far this session. BLFS shares had a relatively better volume day versus average trading capacity of 163.08 thousand shares, but with a 13.34 million float and a -0.17% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BLFS stock indicates that the average analyst price target is $21.25 per share. This means the stock has a potential increase of 22.83% from where the BLFS share price has been trading recently which is between $17.9 and $18.96. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $18.
The shorts are running away from BioLife Solutions, Inc. (BLFS) stock. The latest set of short interest data was released on 15 May 2019, and the numbers show a drop in short interest in BLFS shares. While short interest still represents only 6.34% of BLFS’s float, the number of shares shorted have fallen by -7429. The number of shares shorted fell to 845685 shares, down from 853114 shares during the preceding fortnight. With average daily trading volumes at 117941 shares, days to cover increased to about 5.625954 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “BioLife Solutions to Join Russell 3000® Index” and dated June 10, 2019.
During the recent trading session for BioLife Solutions, Inc. (NASDAQ:BLFS), the company witnessed their stock drop by $-1.39 over a week and surge $0.62 from the price 20 days ago. When compared to their established 52-week high of $26.35, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/23/18. The recent low of $9.15 stood for a -34.35% since 12/21/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.46 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for BioLife Solutions, Inc., the two-week RSI stands at 43.62. This figure suggests that BLFS stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current BLFS readings is similarly very revealing as it has a stochastic reading of 44.61% at this stage. This figure means that BLFS share price today is being neutral.
Technical chart claims that BioLife Solutions, Inc. (BLFS) would settle between $18.77/share to $19.4/share level. However, if the stock price goes below the $17.71 mark, then the market for BioLife Solutions, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $17.28 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.26. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Maxim Group lifted target price for shares of BLFS but were stick to Buy recommendation for the stock in their opinion released on November 10. The price target has been raised from $7 to $8. Maxim Group analysts again handed out a Buy recommendation to BioLife Solutions, Inc. (NASDAQ:BLFS) stock but they lifted target price for the shares in a flash note issued to investors on September 19. The target price has been raised from $6 to $7. Analysts at Janney released an upgrade from Neutral to Buy for the stock, in a research note that dated back to July 05.
BLFS equity has an average rating of 1.33, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated BioLife Solutions, Inc. (NASDAQ:BLFS) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, BLFS stock price is currently trading at 47.76X forward 12-month Consensus EPS estimates, and its P/S ratio is 15.73 while for the average stock in the same group, the multiple is 8.21. BioLife Solutions, Inc. current P/E ratio of 116.6 means it is trading at a premium against its industry’s 32.38. In the past 5 years, this ratio for the stock has been fluctuating between 88.89 and 88.89.
BioLife Solutions, Inc. (BLFS)’s current-quarter revenues are projected to climb by nearly 30.21% to hit $6.75 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 43.48% from $19.74 million to a noteworthy $28.33 million. At the other end of the current quarter income statement, BioLife Solutions, Inc. is expected to see its adjusted earnings surge by roughly -60% to hit $0.02 per share. For the fiscal year, BLFS’s earnings are projected to climb by roughly -7.14% to hit $0.13 per share.