Bioanalytical Systems (NASDAQ:BASI) Share Price Passes Above 200 Day Moving Average of $2.08

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Bioanalytical Systems, Inc. (NASDAQ:BASI) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.08 and traded as high as $3.70. Bioanalytical Systems shares last traded at $3.70, with a volume of 2,616 shares.

Separately, ValuEngine cut Bioanalytical Systems from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th.

The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 1.19. The business has a fifty day moving average of $2.46 and a two-hundred day moving average of $2.08.

Bioanalytical Systems (NASDAQ:BASI) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.04) earnings per share for the quarter. Bioanalytical Systems had a negative return on equity of 7.90% and a negative net margin of 3.38%. The business had revenue of $10.86 million during the quarter.

In other news, COO Daniel Thomas Oakley acquired 10,500 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was bought at an average cost of $3.45 per share, for a total transaction of $36,225.00. Following the purchase, the chief operating officer now owns 45,546 shares in the company, valued at $157,133.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Jr. Leasure acquired 16,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were purchased at an average price of $2.19 per share, with a total value of $35,040.00. Following the completion of the purchase, the insider now owns 126,619 shares in the company, valued at approximately $277,295.61. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 55,594 shares of company stock valued at $164,325. 7.80% of the stock is owned by company insiders.

A hedge fund recently raised its stake in Bioanalytical Systems stock. Renaissance Technologies LLC grew its stake in Bioanalytical Systems, Inc. (NASDAQ:BASI) by 7.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 253,001 shares of the company’s stock after purchasing an additional 18,120 shares during the period. Renaissance Technologies LLC owned approximately 2.46% of Bioanalytical Systems worth $506,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 6.04% of the stock is owned by institutional investors and hedge funds.

About Bioanalytical Systems (NASDAQ:BASI)

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.

Further Reading: Stochastic Momentum Index (SMI)

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