BHTG Stock Forecast: BioHiTech Global Inc has three reasons for doubling, coronavirus-product is one
|- BioHiTech Global Inc. benefits from its AP-4 Disinfection Tech.
- Upbeat earnings projections are raising interest in NASDAQ: BHTG
- The appointment of Nicholaus Rohleder to its board also provides a boost.
BioHiTech Global Inc (NASDAQ: BHTG) is surging toward $4, up over 100% in volatile trading. Investors have a healthy appetite for the Chestnut Ridge, New York-based firm.
Why BHTG, a waste-management company, rising? Here are three reasons:
1) Disinfection tech: BIoHiTech has collaborated with Altapure to offer the AP-4 disinfectant which kills any virus both in the air and on a surface by using vapor and its aerosol system. Can it outperform its competitors? Frank E. Celli, BHTG's CEO, seems optimistic about the new venture. Demand for disinfectants has soared amid the coronavirus crisis.
Materials that allow safe usage of touchable objects – and cleaning the air in closed spaces that may be exposed to COVID-19 – are in growing demand. The current second wave of coronavirus in the US Sun Belt could raise demand for the BIoHiTech's products.
2) Upbeat earnings expectations: Steve Mayer, writing for NewsDaemon – and republished on Yahoo Finance – said that NASDAQ: BHTG is "ticking every box for top investors." The prediction of an Earnings Per Share ratio of -0.13 is relatively upbeat in comparison to the BioHiTech's past. Mayer notes that the firm as only 39 employees. A low earnings-per-worker ratio may help the company's bottom line.
3) Top appointment: BioHiTech announced that Nicholaus Rohleder, previously of New American Energy, to its board of directors. The new independent member provides clout to the company. He has been quoted by several reputable publications such as Forbes, Hedge Fund Monthly, and Energy Trend. That may help the firm gain ground.
BHTG stock price
At the time of writing, NASDAQ: BHTG is trading around $3.50, up some 112%. Similar to its price action on Friday, the volume is elevated and shares are exchanging hands at a rapid pace. Can it continue higher?
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