Balchem (NASDAQ:BCPC) Shares Down 86% – Here’s Why

Balchem Co. (NASDAQ:BCPC) shares were down 86% during mid-day trading on Monday . The company traded as low as $166.72 and last traded at $23.32. Approximately 27,953 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 138,775 shares. The stock had previously closed at $166.22.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BCPC. Sidoti upgraded shares of Balchem to a “hold” rating in a research report on Tuesday, February 25th. HC Wainwright set a $180.00 price target on Balchem and gave the stock a “buy” rating in a report on Monday, April 28th. Finally, Wall Street Zen lowered Balchem from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st.

Balchem Stock Performance

The company has a 50 day simple moving average of $162.16 and a 200 day simple moving average of $165.24. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 42.77, a P/E/G ratio of 4.41 and a beta of 0.91. The company has a quick ratio of 1.16, a current ratio of 1.99 and a debt-to-equity ratio of 0.19.

Balchem (NASDAQ:BCPC) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.03). The firm had revenue of $250.52 million during the quarter, compared to analyst estimates of $245.70 million. Balchem had a net margin of 13.47% and a return on equity of 11.37%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. As a group, equities research analysts forecast that Balchem Co. will post 4.64 EPS for the current year.

Institutional Investors Weigh In On Balchem

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd boosted its position in Balchem by 93.8% in the fourth quarter. Covestor Ltd now owns 157 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 76 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of Balchem in the 1st quarter worth about $27,000. Federated Hermes Inc. purchased a new position in shares of Balchem in the 4th quarter worth about $33,000. Versant Capital Management Inc grew its position in Balchem by 534.2% during the first quarter. Versant Capital Management Inc now owns 241 shares of the basic materials company’s stock valued at $40,000 after buying an additional 203 shares during the period. Finally, SVB Wealth LLC purchased a new stake in Balchem during the first quarter worth about $57,000. 87.91% of the stock is owned by institutional investors.

Balchem Company Profile

Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the nutritional, food, pharmaceutical, animal health, medical device sterilization, plant nutrition, and industrial markets worldwide. It operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.