Jim Simons’ Euclidean Capital: Bio-Rad Laboratories, Inc. (NYSE:BIO) Is a Buy

The BIO stock price fluctuated between $714 and $748.27 throughout the trading session with the volume trading being 66443 shares, which represented a negative variation when compared to the three months average volume of 126453 shares.

The share price of Bio-Rad Laboratories, Inc. (NYSE:BIO) ran up 4.77% to close Friday’s market session at $740.88, higher as compared to yesterday’s close which brings the market valuation of the company to $21.9B.

The 52-week high for the Bio-Rad Laboratories, Inc.’s shares is $748.27. That puts it -0.99% from that peak but still a 34.72% gain since the share price dropped to a 52-week low of $472.84, while the S&P 500’s share price change was of 35.10%.

The company currently has a 5.43 P/E ratio and a price target of $755.

What does the trading volume tell us about the BIO stock?

During the last trading session, Bio-Rad Laboratories, Inc. (NYSE:BIO) has seen growth in its daily volume. The daily volume was of 126453, while in the last 10 days the average was 102.78k and last three months – 126.45k.
The increasing interest in the BIO stock from the investors is helping to drive the stock price up.

Growing short interest

The Bio-Rad Laboratories, Inc.’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 602.78k shares being shorted which translates into 5.48 of a short ratio for BIO, while in the previous month the shorted shares were 551.23k.

Bio-Rad Laboratories, Inc. (NYSE:BIO)’s financials

With a market cap of 21.9B, Bio-Rad Laboratories, Inc. holds a total cash of $1.17B that translates into $39.1 per share, while the total debt is of $12.52M.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 33.40%. The current revenue is of $2.88B that is $96.76 per share.
This is a great sign for a bright future.