Balchem (NASDAQ:BCPC) Shares Down 84.6% - What's Next?

Key Points

• Balchem Corporation (NASDAQ:BCPC) shares plummeted 84.6%, trading as low as $24.14, compared to a previous close of $156.42.
• Despite the drastic drop in share price, HC Wainwright has maintained a "buy" rating with a revised price target of $189.00.
• Balchem reported quarterly earnings of $1.27 per share, exceeding the consensus estimate of $1.25 and showing a 9.1% revenue increase year-over-year.

Balchem Corporation (NASDAQ:BCPC - Get Free Report) shares were down 84.6% during mid-day trading on Wednesday . The stock traded as low as $155.69 and last traded at $24.14. Approximately 8,810 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 166,793 shares. The stock had previously closed at $156.42.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BCPC shares. HC Wainwright reaffirmed a "buy" rating and issued a $189.00 price target (up previously from $180.00) on shares of Balchem in a research report on Monday. Wall Street Zen lowered shares of Balchem from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th.

Balchem Trading Up 1.7%

The stock has a 50 day moving average of $159.56 and a 200-day moving average of $162.17. The company has a market capitalization of $5.16 billion, a P/E ratio of 36.50, a P/E/G ratio of 3.32 and a beta of 0.88. The company has a current ratio of 2.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.17.

Balchem (NASDAQ:BCPC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.02. Balchem had a return on equity of 12.41% and a net margin of 14.48%. The business had revenue of $255.47 million during the quarter, compared to the consensus estimate of $250.31 million. During the same period in the prior year, the company posted $1.09 EPS. The firm's revenue for the quarter was up 9.1% compared to the same quarter last year. On average, research analysts predict that Balchem Corporation will post 4.64 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd raised its holdings in Balchem by 93.8% during the 4th quarter. Covestor Ltd now owns 157 shares of the basic materials company's stock valued at $26,000 after buying an additional 76 shares during the period. Advisors Asset Management Inc. purchased a new stake in Balchem during the 1st quarter valued at $27,000. Federated Hermes Inc. purchased a new stake in Balchem in the fourth quarter worth $33,000. Bessemer Group Inc. increased its stake in Balchem by 98.2% in the second quarter. Bessemer Group Inc. now owns 222 shares of the basic materials company's stock worth $35,000 after purchasing an additional 110 shares during the period. Finally, Versant Capital Management Inc increased its stake in Balchem by 534.2% in the first quarter. Versant Capital Management Inc now owns 241 shares of the basic materials company's stock worth $40,000 after purchasing an additional 203 shares during the period. 87.91% of the stock is currently owned by institutional investors.

About Balchem

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.

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