Balchem (NASDAQ:BCPC) Stock Price Down 86% - Here's Why

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered Balchem from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Sidoti upgraded Balchem to a "hold" rating in a report on Tuesday, February 25th. Finally, HC Wainwright set a $180.00 price objective on Balchem and gave the stock a "buy" rating in a report on Monday, April 28th.

Balchem Price Performance

The stock has a fifty day moving average price of $162.70 and a 200-day moving average price of $165.03. The firm has a market capitalization of $5.35 billion, a PE ratio of 41.70, a P/E/G ratio of 4.41 and a beta of 0.91. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.16 and a current ratio of 1.99.

Balchem (NASDAQ:BCPC - Get Free Report) last announced its earnings results on Thursday, April 24th. The basic materials company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.03). The business had revenue of $250.52 million for the quarter, compared to analysts' expectations of $245.70 million. Balchem had a return on equity of 11.37% and a net margin of 13.47%. The firm's quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. Sell-side analysts forecast that Balchem Co. will post 4.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Balchem

Several institutional investors have recently added to or reduced their stakes in BCPC. Norges Bank acquired a new stake in Balchem during the 4th quarter worth about $70,165,000. Nuveen LLC acquired a new position in Balchem in the 1st quarter worth about $47,214,000. GAMMA Investing LLC raised its holdings in Balchem by 20,231.2% in the 1st quarter. GAMMA Investing LLC now owns 177,288 shares of the basic materials company's stock worth $29,430,000 after purchasing an additional 176,416 shares during the period. Millennium Management LLC raised its holdings in Balchem by 660.5% in the 1st quarter. Millennium Management LLC now owns 195,525 shares of the basic materials company's stock worth $32,457,000 after purchasing an additional 169,816 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Balchem during the 4th quarter worth approximately $23,628,000. Institutional investors and hedge funds own 87.91% of the company's stock.

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.