Balchem Co. (NASDAQ:BCPC) Sees Significant Growth in Short Interest

Balchem Co. (NASDAQ:BCPC) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 490,300 shares, an increase of 10.9% from the October 31st total of 442,200 shares. Based on an average daily volume of 118,300 shares, the days-to-cover ratio is currently 4.1 days. Currently, 1.5% of the company’s stock are short sold.

Balchem Stock Down 0.4 %

BCPC stock traded down $0.76 during mid-day trading on Monday, hitting $179.76. 39,043 shares of the company were exchanged, compared to its average volume of 109,623. The firm has a fifty day simple moving average of $174.45 and a 200 day simple moving average of $167.60. The company has a market capitalization of $5.84 billion, a PE ratio of 48.53, a price-to-earnings-growth ratio of 5.39 and a beta of 0.65. Balchem has a twelve month low of $124.34 and a twelve month high of $186.03. The company has a current ratio of 2.98, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21.

Institutional Investors Weigh In On Balchem

Hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its position in shares of Balchem by 10.5% during the third quarter. Tidal Investments LLC now owns 7,975 shares of the basic materials company’s stock worth $1,404,000 after buying an additional 761 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Balchem in the third quarter worth $35,000. Westside Investment Management Inc. bought a new stake in shares of Balchem during the third quarter valued at about $27,000. Geode Capital Management LLC lifted its holdings in Balchem by 3.1% in the third quarter. Geode Capital Management LLC now owns 928,904 shares of the basic materials company’s stock worth $163,514,000 after purchasing an additional 27,979 shares during the period. Finally, Barclays PLC grew its position in Balchem by 405.8% in the 3rd quarter. Barclays PLC now owns 60,777 shares of the basic materials company’s stock valued at $10,695,000 after buying an additional 48,762 shares in the last quarter. 87.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Balchem from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. HC Wainwright increased their price target on Balchem from $185.00 to $190.00 and gave the company a “buy” rating in a report on Monday, November 4th.

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.