Balchem (NASDAQ:BCPC) Stock Price Down 85% - Here's What Happened

Balchem Corporation (NASDAQ:BCPC - Get Free Report) shares fell 85% during mid-day trading on Friday . The stock traded as low as $158.91 and last traded at $24.35. 25,763 shares were traded during trading, a decline of 82% from the average session volume of 143,393 shares. The stock had previously closed at $161.93.

Analyst Ratings Changes

Several brokerages have recently issued reports on BCPC. Wall Street Zen cut shares of Balchem from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. HC Wainwright set a $180.00 price target on shares of Balchem and gave the stock a "buy" rating in a research report on Monday, April 28th.

Balchem Trading Up 0.4%

The company's fifty day moving average is $163.82 and its two-hundred day moving average is $162.87. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 3.42 and a beta of 0.89. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.18.

Balchem (NASDAQ:BCPC - Get Free Report) last issued 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). Balchem had a net margin of 14.16% and a return on equity of 12.01%. The firm had revenue of $250.52 million during the quarter, compared to analyst estimates of $245.70 million. During the same period last year, the business earned $1.03 EPS. The firm's revenue was up 4.5% compared to the same quarter last year. On average, research analysts predict that Balchem Corporation will post 4.64 EPS for the current fiscal year.

Institutional Trading of Balchem

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Argent Capital Management LLC raised its holdings in Balchem by 5.8% during the second quarter. Argent Capital Management LLC now owns 5,949 shares of the basic materials company's stock worth $947,000 after purchasing an additional 326 shares in the last quarter. Annex Advisory Services LLC raised its holdings in Balchem by 3.8% during the second quarter. Annex Advisory Services LLC now owns 9,145 shares of the basic materials company's stock worth $1,456,000 after purchasing an additional 339 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Balchem during the second quarter worth approximately $213,000. Assenagon Asset Management S.A. raised its holdings in Balchem by 30.6% during the second quarter. Assenagon Asset Management S.A. now owns 86,583 shares of the basic materials company's stock worth $13,784,000 after purchasing an additional 20,274 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in Balchem by 12.6% during the first quarter. Voya Investment Management LLC now owns 35,443 shares of the basic materials company's stock worth $5,884,000 after purchasing an additional 3,975 shares in the last quarter. Institutional investors and hedge funds own 87.91% of the company's stock.

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.