BioLife Solutions, Inc. (NASDAQ:BLFS) is 0.84 points higher today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has climbed by nearly 4.87% to $18.15 from its previous close of $17.31. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 115105 contracts so far this session. BLFS shares had a relatively better volume day versus average trading capacity of 194.27 thousand shares, but with a 13.37 million float and a -3.78% 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 $23.25 per share. This means the stock has a potential increase of 28.1% from where the BLFS share price has been trading recently which is between $16.5 and $17.32. 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 31 July 2019, and the numbers show a drop in short interest in BLFS shares. While short interest still represents only 10.05% of BLFS’s float, the number of shares shorted have fallen by -76734. The number of shares shorted fell to 1266776 shares, down from 1343510 shares during the preceding fortnight. With average daily trading volumes at 156430 shares, days to cover increased to about 5.681116 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “BioLife Solutions to Attend and Present at Upcoming Scientific and Investor Conferences” and dated August 12, 2019.
During the recent trading session for BioLife Solutions, Inc. (NASDAQ:BLFS), the company witnessed their stock drop by $-0.09 over a week and surge $1.62 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 -31.11% 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 1.47 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 50.37. 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 26.79% at this stage. This figure means that BLFS share price today is being overbought.
Technical chart claims that BioLife Solutions, Inc. (BLFS) would settle between $17.59/share to $17.86/share level. However, if the stock price goes below the $16.77 mark, then the market for BioLife Solutions, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $16.22 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.64. 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 H.C. Wainwright, assumed coverage of BLFS assigning Buy rating, according to their opinion released on July 22. 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 November 10. The target price has been raised from $7 to $8. Analysts at Maxim Group are sticking to their Buy stance. However, on September 19, they lifted price target for these shares to $7 from $6.
BLFS equity has an average rating of 1.6, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 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. 5 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 50.32X forward 12-month Consensus EPS estimates, and its P/S ratio is 16.02 while for the average stock in the same group, the multiple is 6. BioLife Solutions, Inc. current P/E ratio of 118.78 means it is trading at a premium against its industry’s 29.73. 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 41.4% to hit $7.48 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 42.59% from $19.74 million to a noteworthy $28.15 million. At the other end of the current quarter income statement, BioLife Solutions, Inc. is expected to see its adjusted earnings surge by roughly -40% to hit $0.03 per share. For the fiscal year, BLFS’s earnings are projected to climb by roughly -14.29% to hit $0.12 per share.