Penny Stocks to Watch: Analysts are Calling BUY on Biocept Inc.

penny stocks

We all know that penny stocks are volatile. This is the risk involved in trading stocks that are so cheap. Biocept Inc. (NASDAQ:BIOC) proved this point better than most earlier this month; the company dropped almost 50% of its value overnight.

Penny Stocks: Biocept Inc.

On the morning of February 7th Biocept was selling for $2.03 USD on the NASDAQ exchange. By February 8th, this penny stock was worth $1.07 USD. For any traders who invested, say, $1000, they would have lost nearly $500 in an instant. 

What transpired to cause the crash is unclear, but according to Fairfield Current: “Vanguard Group Inc reduced its holdings in shares of Biocept Inc by 97.8% during the 3rd quarter.

During that period, the company sold off a whopping 898,339 shares. This must of convinced some investors to also jump ship. 

Analysts Say Buy

But now some analysts are rating the BIOC penny stock as ‘BUY’. The current low price after such a crash might offer a strong potential for any new investors wanting to take a risk.

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Stocks Equity says the following:

“Past 5 years growth of BIOC observed at 45.80%, and for the next five years, the analysts that follow this company are expecting its growth at 40.00%.”

And then there is RNSDaily, which said this: 

“Analysts view Biocept, Inc. as a Buy, with 2 consensus rating. Reuters surveyed 2 analysts that follow BIOC and found that 0 of those analysts rated the stock as a Hold. The remaining 2 were divided, with 2 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Biocept, Inc. shares or sell it if they already own it.”

According to its own website, Biocept develops “innovative diagnostic solutions” resulting in information for doctors and patients from blood tests.

Any new investor in the company will want to research Biocept’s history, but the current price is one of the lowest on offer for a company that did trade for over $20 in early 2018. Nothing can be a sure thing, especially in the penny stocks market, but when analysts are saying ‘BUY’, it’s hard to ignore that.

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