After Reaching 52-Week High, Is Bevo Agro Inc’s Near-Term Analysis Positive?

 After Reaching 52 Week High, Is Bevo Agro Inc's Near Term Analysis Positive?

The stock of Bevo Agro Inc (CVE:BVO) hit a new 52-week high and has $1.94 target or 44.00% above today’s $1.35 share price. The 9 months bullish chart indicates low risk for the $35.62M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $1.94 price target is reached, the company will be worth $15.67M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 49,550 shares traded hands or 81.02% up from the average. Bevo Agro Inc (CVE:BVO) has risen 6.00% since October 18, 2016 and is uptrending. It has outperformed by 1.38% the S&P500.

Bevo Agro Inc. is engaged in the propagation of plants in North America, providing greenhouses, field farms, nurseries, and wholesalers across the continent with plants. The company has a market cap of $35.62 million. The Firm operates through the segment of propagation and production of greenhouse products. It has a 12.23 P/E ratio. It operates approximately 45 acres of propagation greenhouse facilities on approximately 100 acres of land in Milner, British Colombia and approximately 20 acres of land in Pitt Meadows, British Colombia.

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