Balchem (NASDAQ:BCPC) Stock Price Down 85.2% – Here’s Why

Balchem Co. (NASDAQ:BCPC)’s stock price fell 85.2% during mid-day trading on Tuesday . The stock traded as low as $163.04 and last traded at $24.28. 111,229 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 114,079 shares. The stock had previously closed at $164.52.

Analyst Ratings Changes

A number of research firms have issued reports on BCPC. HC Wainwright restated a “buy” rating and issued a $190.00 target price on shares of Balchem in a report on Monday, February 24th. Sidoti upgraded shares of Balchem to a “hold” rating in a research report on Tuesday, February 25th. Finally, StockNews.com downgraded Balchem from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Balchem Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.99 and a quick ratio of 1.16. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 41.56, a price-to-earnings-growth ratio of 4.41 and a beta of 0.63. The firm’s 50-day moving average price is $164.88 and its 200-day moving average price is $169.34.

Balchem (NASDAQ:BCPC) last announced its earnings results on Friday, February 21st. The basic materials company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.08). Balchem had a net margin of 13.47% and a return on equity of 11.37%. The company had revenue of $240.00 million for the quarter, compared to analysts’ expectations of $239.96 million. Sell-side analysts forecast that Balchem Co. will post 4.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Balchem

Hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd raised its position in shares of Balchem by 93.8% during the 4th quarter. Covestor Ltd now owns 157 shares of the basic materials company’s stock worth $26,000 after buying an additional 76 shares in the last quarter. Westside Investment Management Inc. acquired a new position in shares of Balchem during the third quarter valued at approximately $27,000. R Squared Ltd bought a new stake in Balchem during the fourth quarter worth approximately $29,000. Federated Hermes Inc. acquired a new stake in Balchem in the fourth quarter worth approximately $33,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Balchem during the 3rd quarter valued at $35,000. 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.