Will BioScrip Inc (BIOS) Short Squeeze Soon? The Stock Formed a Bullish Wedge Up Chart Pattern

September 17, 2017 - By Winifred Garcia

Investors sentiment decreased to 0.89 in Q4 2016. Its down 0.57, from 1.46 in 2016Q3. It dived, as 18 investors sold BioScrip Inc shares while 29 reduced holdings. 16 funds opened positions while 26 raised stakes. 91.55 million shares or 0.99% less from 92.47 million shares in 2016Q3 were reported.
60,500 are owned by Pnc Financial Svcs. Goldman Sachs Grp Inc Inc holds 0% or 38,757 shares in its portfolio. Sei Invs holds 0% or 243 shares. Blackrock reported 13,951 shares. Meeder Asset Mgmt has 1,518 shares. Ares Ltd Liability has 11,800 shares for 0% of their portfolio. Proshare Advsrs Ltd Llc reported 18,064 shares stake. 274,764 were accumulated by Menta Capital Ltd Co. M&T Bank stated it has 0% in BioScrip Inc (NASDAQ:BIOS). Ledyard Retail Bank, New Hampshire-based fund reported 4,000 shares. Oppenheimer Inc has 0% invested in BioScrip Inc (NASDAQ:BIOS). Nationwide Fund Advisors invested 0% of its portfolio in BioScrip Inc (NASDAQ:BIOS). Hsbc Pcl holds 0% or 19,372 shares. Blackrock Investment Limited Com has 483,140 shares. Us Bancorp De reported 13,234 shares.

The stock of BioScrip Inc (BIOS) formed an up wedge with $2.80 target or 5.00 % above today’s $2.67 share price. The 7 months wedge indicates low risk for the $340.36 million company. If the $2.80 price target is reached, the company will be worth $17.02M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.38% or $0.01 on September 15, reaching $2.67. About 1.34 million shares traded. BioScrip Inc (NASDAQ:BIOS) has declined 29.17% since September 17, 2016 and is downtrending. It has underperformed by 45.87% the S&P500.

Investors wait BioScrip Inc (NASDAQ:BIOS) to report on November, 6. its quarterly earnings Wall Street analysts expect $-0.10 EPS, $0.00 or 0.00 % from last year’s $-0.1 same quarter earnings. BioScrip Inc’s Wall Street analysts see -9.09 % EPS growth, taking into account the $-0.11 EPS reproted in the previous quarter,

BioScrip Inc (NASDAQ:BIOS) Ratings Coverage

Among 6 analysts covering BioScrip (NASDAQ:BIOS), 6 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. BioScrip had 10 analyst reports since August 11, 2015 according to SRatingsIntel. Dougherty & Company maintained the stock with “Buy” rating in Wednesday, August 12 report. The firm has “Buy” rating given on Wednesday, August 9 by Jefferies. The firm earned “Buy” rating on Thursday, June 8 by Jefferies. Jefferies maintained the shares of BIOS in report on Tuesday, July 25 with “Buy” rating. On Tuesday, August 11 the stock rating was downgraded by SunTrust to “Buy”. On Tuesday, January 3 the stock rating was initiated by Lake Street with “Buy”. SunTrust upgraded BioScrip Inc (NASDAQ:BIOS) on Thursday, August 10 to “Buy” rating.

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