Bioanalytical Systems, Inc. (NASDAQ:BASI) Short Interest Update

Bioanalytical Systems, Inc. (NASDAQ:BASI) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 41,500 shares, a decline of 6.7% from the December 15th total of 44,500 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily volume of 59,900 shares, the short-interest ratio is currently 0.7 days.

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Bioanalytical Systems during the third quarter valued at $97,000. Essex Investment Management Co. LLC purchased a new stake in shares of Bioanalytical Systems during the third quarter valued at $340,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Bioanalytical Systems by 7.7% during the second quarter. Renaissance Technologies LLC now owns 253,001 shares of the company’s stock valued at $506,000 after purchasing an additional 18,120 shares during the period. 8.42% of the stock is owned by hedge funds and other institutional investors.

Several research firms have commented on BASI. ValuEngine lowered shares of Bioanalytical Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. TheStreet raised shares of Bioanalytical Systems from a “d+” rating to a “c-” rating in a research note on Thursday, January 2nd.

Shares of BASI traded up $0.04 during trading hours on Thursday, reaching $5.49. 34,030 shares of the company traded hands, compared to its average volume of 76,841. Bioanalytical Systems has a 12-month low of $1.30 and a 12-month high of $5.76. The company has a quick ratio of 0.65, a current ratio of 0.71 and a debt-to-equity ratio of 1.29. The stock’s fifty day moving average price is $4.67 and its 200 day moving average price is $3.61.

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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