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BCDA Stock Forecast 2023: BioCardia Inc. (NASDAQ: BCDA) Is Weak With A -455.56% Downside

In the last trading session, 1.77 million BioCardia Inc. (NASDAQ:BCDA) shares changed hands as the company’s beta touched 1.71. With the company’s per share price at $0.72 changed hands at -$0.08 or -9.97% during last session, the market valuation stood at $15.59M. BCDA’s last price was a discount, traded about -305.56% off its 52-week high of $2.92. The share price had its 52-week low at $0.36, which suggests the last value was 50.0% up since then. When we look at BioCardia Inc.’s average trading volume, we note the 10-day average is 15.01 million shares, with the 3-month average coming to 2.38 million.

Analysts gave the BioCardia Inc. (BCDA) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended BCDA as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. BioCardia Inc.’s EPS for the current quarter is expected to be -$0.12.

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BioCardia Inc. (NASDAQ:BCDA) trade information

Instantly BCDA was in red as seen at the end of in last trading. With action 84.85%, the performance over the past five days has been green. The drop to weekly highs of 1.5500 on Friday, 11/17/23 subtracted -9.97% to the stock’s daily price. The company’s shares are showing year-to-date downside of -65.51%, with the 5-day performance at 84.85% in the green. However, in the 30-day time frame, BioCardia Inc. (NASDAQ:BCDA) is 84.37% up. Looking at the short shares, we see there were 0.13 million shares sold at short interest cover period of 1.12 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.00, meaning bulls need an upside of 82.0% from its current market value. According to analyst projections, BCDA’s forecast low is $4.00 with $4.00 as the target high. To hit the forecast high, the stock’s price needs a -455.56% plunge from its current level, while the stock would need to soar -455.56% for it to hit the projected low.

BioCardia Inc. (BCDA) estimates and forecasts

Data shows that the BioCardia Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -56.83% over the past 6 months, a 19.40% in annual growth rate that is considerably higher than the industry average of 14.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for BioCardia Inc. will rise 25.00%. Year-over-year growth is forecast to reach -74.10% down from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $90k. The company’s revenue for the corresponding quarters a year ago was $106k. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -15.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 25.25%. The 2023 estimates are for BioCardia Inc. earnings to increase by 20.15%.

BCDA Dividends

BioCardia Inc. is expected to release its next quarterly earnings report on November 08.

BioCardia Inc. (NASDAQ:BCDA)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 36.95% of BioCardia Inc. shares while 14.67% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 23.27%. There are 14.67% institutions holding the BioCardia Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 13.42% of the shares, roughly 0.65 million BCDA shares worth $1.74 million.

CM Management, LLC holds the second largest percentage of outstanding shares, with 7.08% or 0.34 million shares worth $0.92 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 0.46 million shares estimated at $1.22 million under it, the former controlled 9.44% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 3.90% of the shares, roughly 0.19 million shares worth around $0.51 million.

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