Prepare Yourself for Liftoff: Blue Water Biotech Inc. (BWV)

Blue Water Biotech Inc. (NASDAQ: BWV) stock fell -10.50% on Thursday to $0.80 against a previous-day closing price of $0.89. With 0.2 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.12 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.9000 whereas the lowest price it dropped to was $0.7850. The 52-week range on BWV shows that it touched its highest point at $8.00 and its lowest point at $0.88 during that stretch. It currently has a 1-year price target of $6.50.

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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 BWV was down-trending over the past week, with a drop of -19.77%, but this was down by -25.92% over a month. Three-month performance dropped to -29.82% while six-month performance fell -34.95%. The stock lost -80.58% in the past year, while it has lost -27.26% so far this year. A look at the trailing 12-month EPS for BWV yields -1.17 with Next year EPS estimates of -0.74. For the next quarter, that number is -0.12. This implies an EPS growth rate of -200.90% for this year and -2.80% for next year.

Float and Shares Shorts:

At present, 15.91 million BWV shares are outstanding with a float of 10.44 million shares on hand for trading. On Apr 27, 2023, short shares totaled 0.38 million, which was 2.39% higher than short shares on Mar 30, 2023. In addition to Mr. Joseph Hernandez M.S., MBA as the firm’s CEO, Pres & Exec. Chairman, Mr. Jon M. Garfield serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 17.25% of BWV’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.64% of BWV, in contrast to 24.12% held by mutual funds. Shares owned by individuals account for 1.55%. As the largest shareholder in BWV with 5.92% of the stake, American Money Management Corp. holds 940,762 shares worth 940,762. A second-largest stockholder of BWV, Cetera Advisor Networks LLC, holds 270,800 shares, controlling over 1.70% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in BWV, holding 176,883 shares or 1.11% stake. With a 0.80% stake in BWV, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 127,574 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.31% of BWV stock, is the second-largest Mutual Fund holder. It holds 49,309 shares valued at 52761.0. Fidelity Extended Market Index Fu holds 0.27% of the stake in BWV, owning 42,550 shares worth 45529.0.

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 Mar 30, 2023, BWV reported revenue of $0.00 and operating income of -$4.29M. The EBITDA in the recently reported quarter was -$4.32M and diluted EPS was -$0.36.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BWV since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BWV analysts setting a high price target of $9.00 and a low target of $4.00, the average target price over the next 12 months is $6.50. Based on these targets, BWV could surge 1025.0% to reach the target high and rise by 400.0% to reach the target low. Reaching the average price target will result in a growth of 712.5% 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.

Summary of Insider Activity:

Insiders traded BWV stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 1,200,000 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 59,222 while 3,034,119 shares were sold.

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