Stock to Watch: Else Nutrition Holdings (TSXV:BABY) (OTCPK:BABYF)

Else Nutrition

Analysts have been taking notice of Else Nutrition Holdings Inc. (TSXV:BABY) (OTCPK:BABYF) and are giving a “BUY” recommendation to the food and nutrition company that has developed the first 100% plant-based infant nutritional formula.

Else Nutrition

 

Else Nutrition Holdings Inc. (TSXV:BABY) (OTCPK:BABYF) currently has a “BUY” recommendation from TradingView’s technical analysis, which weighs multiple market indicators such as moving averages, oscillators, and pivots to provide an assessment of the stock’s price and direction. 

While the overall recommendation is a “BUY”, the moving averages indicators have been awarded a “STRONG BUY”. This indicates that BABY shares are trending towards even greater growth, which also bears out when looking at the stock’s forecast.

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Else Nutrition

According to TradingView’s forecast, Else Nutrition Holdings’ (TSXV:BABY) (OTCPK:BABYF) has a target price of $0.90, which it is projected to reach in late March 2020. This represents 94.5% growth from its current position at $0.47.

Else Nutrition’s Market Position

Else Nutrition Holdings’ (TSXV:BABY) (OTCPK:BABYF) 100% plant-based, non-soy alternative to dairy-based baby formula is the first of its kind on the market. It’s free of GMOs, pesticides, hormones, antibiotics, gluten, and phytoestrogens, and has no externally added macro-nutrients. Made from almonds and buckwheat, it is a healthier and more natural option for toddlers (12-36 months).

According to Hexa Research, the global market for formula will exceed $90 billion USD by 2025 with a CAGR of 9.35%. This growth is in part by the introduction of formulas with added nutrition, such as the one offered by Else.

More specifically, the global organic baby food market is projected to grow from $5.95 billion last year to $11 billion by 2024, with a CAGR of 11%. As research shows that dairy and soy allergens are incredibly common among children under the age of five, Else Nutrition Holdings’ (TSXV:BABY) (OTCPK:BABYF) has unparalleled access to a sizable share of the market.

Share Information and Performance

Else Nutrition Holdings’ (TSXV:BABY) (OTCPK:BABYF) currently has 67.14 million shares issued and outstanding. BABY stock achieved a 52-week high of $0.75 in mid-June and as of October 30 is selling at $0.47 on the TSX Venture Exchange. 

The company expects US sales of its toddler formula and kids’ nutritional drinks to begin in the spring of 2020. It will be fascinating to watch how Wall Street reacts to these product launches when it’s already being so bullish on BABY.

Featured image: Else Nutrition

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