BioHarvest Sciences (NASDAQ:BHST) Stock Price Down 6.7% – What’s Next?

BioHarvest Sciences Inc. (NASDAQ:BHST)’s stock price fell 6.7% on Tuesday. The stock traded as low as $1.6501 and last traded at $1.68. Approximately 11,059 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 23,240 shares. The stock had previously closed at $1.80.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BHST. Maxim Group reduced their price objective on BioHarvest Sciences from $12.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Roth Capital lowered their price target on shares of BioHarvest Sciences from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioHarvest Sciences in a research note on Monday, September 14th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.50.

BioHarvest Sciences Trading Up 0.5%

The firm’s fifty day moving average price is $1.75 and its two-hundred day moving average price is $2.78.

BioHarvest Sciences (NASDAQ:BHST) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04). The firm had revenue of $8.84 million during the quarter, compared to analyst estimates of $9.45 million. BioHarvest Sciences had a negative net margin of 31.21% and a negative return on equity of 58.30%. Sell-side analysts forecast that BioHarvest Sciences Inc. will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On BioHarvest Sciences

A hedge fund recently raised its position in BioHarvest Sciences stock. True North Advisors LLC lifted its position in shares of BioHarvest Sciences Inc. (NASDAQ:BHST) by 381.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 168,013 shares of the company’s stock after purchasing an additional 133,085 shares during the period. True North Advisors LLC owned 0.86% of BioHarvest Sciences worth $729,000 at the end of the most recent quarter.

About BioHarvest Sciences

BioHarvest Sciences Inc is a biotechnology company developing health and wellness products using its proprietary Botanical Synthesis technology. The platform is designed to produce plant-based compounds in controlled bioreactor environments, allowing the company to cultivate targeted botanical ingredients without growing and harvesting the entire plant.

The company’s principal commercial product is VINIA, a dietary supplement made from polyphenol-rich red grape cells. BioHarvest markets VINIA as a source of naturally occurring plant compounds and sells it through online and other commercial channels, with a primary focus on consumers in North America.

Founded in 2007, BioHarvest Sciences has also pursued the development of additional nutraceutical and pharmaceutical applications for its Botanical Synthesis platform.