Bioanalytical Systems, Inc. (NASDAQ:BASI) Sees Large Decline in Short Interest

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Bioanalytical Systems, Inc. (NASDAQ:BASI) was the target of a large decline in short interest in March. As of March 13th, there was short interest totalling 11,200 shares, a decline of 38.1% from the February 27th total of 18,100 shares. Based on an average daily trading volume, of 16,200 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.2% of the company’s stock are short sold.

Several equities research analysts recently weighed in on BASI shares. TheStreet upgraded Bioanalytical Systems from a “d+” rating to a “c-” rating in a report on Thursday, January 2nd. ValuEngine upgraded Bioanalytical Systems from a “sell” rating to a “hold” rating in a report on Thursday, March 5th.

In other news, Director Richard Allen Johnson purchased 20,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average price of $5.71 per share, with a total value of $114,200.00. Following the purchase, the director now owns 30,000 shares in the company, valued at approximately $171,300. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.46% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of BASI. Renaissance Technologies LLC lifted its holdings in Bioanalytical Systems by 32.0% in the 4th quarter. Renaissance Technologies LLC now owns 441,704 shares of the company’s stock worth $2,186,000 after purchasing an additional 107,202 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Bioanalytical Systems during the third quarter worth approximately $97,000. Acadian Asset Management LLC lifted its holdings in shares of Bioanalytical Systems by 7.3% during the fourth quarter. Acadian Asset Management LLC now owns 67,810 shares of the company’s stock worth $336,000 after buying an additional 4,617 shares during the last quarter. Finally, Essex Investment Management Co. LLC lifted its holdings in shares of Bioanalytical Systems by 3.7% during the fourth quarter. Essex Investment Management Co. LLC now owns 98,243 shares of the company’s stock worth $486,000 after buying an additional 3,543 shares during the last quarter. Hedge funds and other institutional investors own 9.24% of the company’s stock.

BASI opened at $3.60 on Friday. The business has a 50 day moving average price of $4.48 and a 200 day moving average price of $4.49. Bioanalytical Systems has a twelve month low of $1.72 and a twelve month high of $6.50. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.50 and a current ratio of 0.54. The firm has a market cap of $26.37 million, a P/E ratio of -18.00 and a beta of 0.84.

Bioanalytical Systems (NASDAQ:BASI) last posted its earnings results on Friday, February 14th. The company reported ($0.06) earnings per share for the quarter. Bioanalytical Systems had a negative return on equity of 12.10% and a negative net margin of 4.45%. The company had revenue of $12.92 million during the quarter.

Bioanalytical Systems Company Profile

Bioanalytical Systems, Inc provides drug discovery and development services, and analytical instruments for pharmaceutical, biotechnology, academic, and government organizations in the United States, rest of North America, the Pacific Rim, Europe, and internationally. It operates through two segments, Contract Research Services and Research Products.

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