The stock of BioTelemetry, Inc. (NASDAQ:BEAT) is now priced at $42.56 and the shares are -2.75 points down or -6.07% lower compared to its previous closing price of $45.31. The stock had 1.022 million contracts set over the past session. BEAT shares’ daily volume is compared to its average trading volume at 0 billion shares. However, it has a float of 33.16 million and although its performance was 6.69% over the week, it’s one to watch. Analysts have given the BEAT stock a yearly average price target of $61.2 per share. It means the stock’s upside potential is 43.8% with the BEAT share price recently placing at $40.7201 to $46.12. However, some brokerage firms have priced the stock below the average, including one that has called $52.
The shorts are climbing into the BioTelemetry, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the BEAT shares have risen. Short interest in the stock represents just 8.97% of its float, but the volume has raised by 358000. The volume of shorted shares rised to 2.976 million from 2.618 million shares over the last two weeks. The average intraday trading volume has been 404624 shares, which means that days to cover moved to roughly 7.353998.
In the last trading session, BioTelemetry, Inc. (NASDAQ:BEAT) raised by $2.67 over the week and lost -$3 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $55.85. The stock recorded its established 52-week high on 01/17/20.
Since 03/18/20, the stock has traded to a low of $27.35 at 55.61%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.19. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, BioTelemetry, Inc.’s two-week RSI is 48.71. This suggests that the stock is neutral at the moment and that BEAT shares’ price movement remains stable. The stochastic readings are equally revealing at 71.09% meaning the BEAT share price is currently in oversold territory.
The technical chart shows that the BEAT stock will likely settle at between $45.55 and $48.53 per share. However, if the stock dips below $40.15, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $37.73.
Currently, the stock is trading in the green of MACD, with a reading of 1.89. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned BEAT a rating of Buy in their intiating review released on January 08. Raymond James analysts downgraded their recommendation of the stock from Outperform to Mkt Perform in a flash note released to investors on August 02. Dougherty & Company analysts see the stock as Buy. Nonetheless, the analysts revised the share prices down on April 26, placing it at $75 from $81.
The average rating for the BEAT equity is 1.83 and is currently gathering a bullish momentum. Of 6 analysts tracking BioTelemetry, Inc. polled by Reuters, 1 rated BEAT as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the BEAT stock price is 19.6X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 65.7 above the group’s average of 62.3. BioTelemetry, Inc. has its P/E ratio at 4.1, which means that the stock is currently trading at a discount relative to the 6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for BioTelemetry, Inc. (NASDAQ:BEAT) will decrease by about -99.91%, which will see them reach $107.08 million. The company’s full-year revenues are, however, expected to diminish by about -1.76%, down from $439.11 million to $431.38 million. BEAT’s expected adjusted earnings should drop almost -21.15% to end up at $0.41 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -19.49% to record $1.57/share.