Biocept (BIOC): Today's Weak On High Volume Stock
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
Trade-Ideas LLC identified
(
) as a weak on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Biocept as such a stock due to the following factors:
- BIOC has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $14.7 million.
- BIOC has traded 339,060 shares today.
- BIOC is trading at 3.42 times the normal volume for the stock at this time of day.
- BIOC is trading at a new low 7.14% below yesterday's close.
'Weak on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as material stock news, analyst downgrades, insider selling, selling from 'superinvestors,' or that hedge funds and traders are piling out of a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize (or avoid losses by trimming weak positions). In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.
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More details on BIOC:
Biocept, Inc., a cancer diagnostics company, develops and commercializes proprietary circulating tumor cell (CTC) and circulating tumor DNA tests utilizing a standard blood sample. Currently there is 1 analyst that rates Biocept a buy, no analysts rate it a sell, and none rate it a hold.
The average volume for Biocept has been 3.1 million shares per day over the past 30 days. Biocept has a market cap of $14.1 million and is part of the health care sector and health services industry. The stock has a beta of 0.87 and a short float of 63.7% with 0.25 days to cover. Shares are up 16.1% year-to-date as of the close of trading on Thursday.
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Analysis:
rates Biocept as a
. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and feeble growth in its earnings per share.
Highlights from the ratings report include:
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Biotechnology industry. The net income has significantly decreased by 57.0% when compared to the same quarter one year ago, falling from -$2.47 million to -$3.88 million.
- BIOCEPT INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has reported a trend of declining earnings per share over the past year. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, BIOCEPT INC reported poor results of -$3.54 versus -$0.55 in the prior year. This year, the market expects an improvement in earnings (-$2.08 versus -$3.54).
- Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 59.08%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 58.18% compared to the year-earlier quarter.
- BIOC's very impressive revenue growth greatly exceeded the industry average of 36.3%. Since the same quarter one year prior, revenues leaped by 294.7%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
- You can view the full Biocept Ratings Report.
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