Adversity is less terrifying than hope: Biocept Inc. (BIOC)

Biocept Inc. (NASDAQ: BIOC) stock jumped 2.81% on Monday to $0.60 against a previous-day closing price of $0.58. With 54804.0 shares changed hands, the volume of the stock remained lighter than its average volume of 0.13 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $0.6000 whereas the lowest price it dropped to was $0.5705. The 52-week range on BIOC shows that it touched its highest point at $3.10 and its lowest point at $0.46 during that stretch. It currently has a 1-year price target of $4.00. Beta for the stock currently stands at 0.98.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BIOC was up-trending over the past week, with a rise of 4.81%, but this was up by 14.23% over a month. Three-month performance dropped to -21.91% while six-month performance fell -40.56%. The stock lost -80.28% in the past year, while it has gained 12.72% so far this year. A look at the trailing 12-month EPS for BIOC yields -1.04 with Next year EPS estimates of -0.97. For the next quarter, that number is -0.22. This implies an EPS growth rate of 87.30% for this year and 4.90% for next year. EPS is expected to grow by 40.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 79.90%.

Float and Shares Shorts:

At present, 17.06 million BIOC shares are outstanding with a float of 17.05 million shares on hand for trading. On Dec 29, 2022, short shares totaled 74090.0, which was 0.43% higher than short shares on Nov 29, 2022. In addition to Mr. Samuel D. Riccitelli as the firm’s Interim Pres, CEO & Chairman, Mr. Antonino Morales serves as its Interim CFO & Director.

Institutional Ownership:

Through their ownership of 10.03% of BIOC’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 5.06% of BIOC, in contrast to 4.99% held by mutual funds. Shares owned by individuals account for 0.03%. As the largest shareholder in BIOC with 3.59% of the stake, The Vanguard Group, Inc. holds 612,269 shares worth 612,269. A second-largest stockholder of BIOC, GlobeFlex Capital LP, holds 233,578 shares, controlling over 1.37% of the firm’s shares. Renaissance Technologies LLC is the third largest shareholder in BIOC, holding 168,400 shares or 0.99% stake. With a 2.31% stake in BIOC, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 394,514 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.28% of BIOC stock, is the second-largest Mutual Fund holder. It holds 218,129 shares valued at 0.12 million. Bridgeway Ultra Small Company Fun holds 0.64% of the stake in BIOC, owning 109,436 shares worth 58001.0.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, BIOC reported revenue of $10.61M and operating income of -$5.10M. The EBITDA in the recently reported quarter was -$5.10M and diluted EPS was -$0.31.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BIOC since 2 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BIOC analysts setting a high price target of $11.00 and a low target of $4.00, the average target price over the next 12 months is $7.50. Based on these targets, BIOC could surge 1733.33% to reach the target high and rise by 566.67% to reach the target low. Reaching the average price target will result in a growth of 1150.0% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BIOC will report FY 2022 earnings on 02/28/2024. Analysts have provided yearly estimates in a range of -$1.02 being high and -$1.15 being low. For BIOC, this leads to a yearly average estimate of -$1.08. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Biocept Inc. surprised analysts by $0.20 when it reported -$0.04 EPS against a consensus estimate of -$0.23. The surprise factor in the prior quarter was -$0.22. Based on analyst estimates, the high estimate for the next quarter is -$0.22 and the low estimate is -$0.36. The average estimate for the next quarter is thus -$0.29.

Summary of Insider Activity:

Insiders traded BIOC stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.

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