Option Care Health, Inc. (NASDAQ:BIOS) is -0.15 points lower 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 plummeted by nearly -4.36% to $3.29 from its previous close of $3.44. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 888553 contracts so far this session. BIOS shares had a relatively better volume day versus average trading capacity of 889.99 thousand shares, but with a 0.7 billion float and a -1.71% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BIOS stock indicates that the average analyst price target is $3.95 per share. This means the stock has a potential increase of 20.06% from where the BIOS share price has been trading recently which is between $3.4 and $3.5.
The shorts are running away from Option Care Health, Inc. (BIOS) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a drop in short interest in BIOS shares. While short interest still represents only 1.26% of BIOS’s float, the number of shares shorted have fallen by -1213538. The number of shares shorted fell to 8798390 shares, down from 10011928 shares during the preceding fortnight. With average daily trading volumes at 973207 shares, days to cover decreased to about 11.8858 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Option Care Health to Participate in the Morgan Stanley 17th Annual Global Healthcare Conference” and dated August 29, 2019.
During the recent trading session for Option Care Health, Inc. (NASDAQ:BIOS), the company witnessed their stock drop by $-0.2 over a week and surge $0.23 from the price 20 days ago. When compared to their established 52-week high of $4.14, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 12/13/18. The recent low of $1.56 stood for a -20.53% since 04/23/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.46 is also allocated to the stock. Since the beta is less 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 Option Care Health, Inc., the two-week RSI stands at 54.67. This figure suggests that BIOS 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 BIOS readings is similarly very revealing as it has a stochastic reading of 71.8% at this stage. This figure means that BIOS share price today is being oversold.
Technical chart claims that Option Care Health, Inc. (BIOS) would settle between $3.49/share to $3.55/share level. However, if the stock price goes below the $3.39 mark, then the market for Option Care Health, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $3.35 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.03. 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 Canaccord Genuity lifted target price for shares of BIOS but were stick to Buy recommendation for the stock in their opinion released on March 18. The price target has been raised from $5 to $3.50. Stephens analysts have lowered their rating of Option Care Health, Inc. (NASDAQ:BIOS) stock from Overweight to Equal-Weight in a separate flash note issued to investors on March 18. Analysts at SunTrust released an upgrade from Hold to Buy for the stock, in a research note that dated back to August 10.
BIOS equity has an average rating of 1, 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 Option Care Health, Inc. (NASDAQ:BIOS) 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, BIOS stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is NA while for the average stock in the same group, the multiple is 21.49. Option Care Health, Inc. current P/B ratio of NA means it is trading at a premium against its industry’s 2.76.
Option Care Health, Inc. (BIOS)’s current-quarter revenues are projected to climb by nearly 195.42% to hit $534600, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 130.12% from $708900 to a noteworthy $1.63 billion. At the other end of the current quarter income statement, Option Care Health, Inc. is expected to see its adjusted earnings surge by roughly 100% to hit $0 per share. For the fiscal year, BIOS’s earnings are projected to climb by roughly 63.27% to hit $-0.18 per share.