Today's Research Reports on Stocks to Watch: Biocept and Hornbeck Offshore Services
NEW YORK, NY / ACCESSWIRE / May 15, 2017 / A disappointing performance from the retail industry pressured major indexes lowered Friday, with the S&P 500 Index posting its first weekly loss in a month. On Friday, the Commerce Department reported retail sales increased 0.4 percent sequentially in April and were up 4.5 percent year-over-year. The rise in retail sales fell short of economists' expectations of a 0.6 percent increase, according to economists surveyed by Reuters. The Dow Jones Industrial Average fell 0.11 percent to close at 20,896.61, down 0.55 percent for the week, while the S&P 500 Index declined 0.15 percent to close at 2,390.90, down 0.36 percent for the week.
RDI Initiates Coverage on:
Biocept Inc.
https://ub.rdinvesting.com/news/?ticker=BIOC
Hornbeck Offshore Services, Inc.
https://ub.rdinvesting.com/news/?ticker=HOS
Biocept's shares declined 13.66 percent to close at $1.58 a share on Friday. The stock traded between $1.54 and $1.70 on volume of 1.46 million shares traded. The company reported revenues of $1.68 million for the first quarter of 2017, as compared to revenue of $0.224 million reported in the same quarter a year ago. Net loss was $4.4 million, or a loss of $0.21 per share, for the first quarter of 2017, compared to a net loss of $4.9 million, or a loss of $0.74 per share, in the first quarter of 2016. Cash and cash equivalents were $14.0 million as of March 31, 2017. Shares of Biocept have gained approximately 103.87 percent year-to-date.
"The first quarter of 2017 was productive, with billable samples up 38% over the same period last year, and revenue of $1.68 million," said Michael Nall, President and CEO of Biocept. "Our reported revenue includes our successful conversion to accrual-based revenue recognition, with a positive impact of $726,000, which is net of $420,000 associated with reserves taken for third-party health plan and patient payments, as well as other reserves for contractual and payer-specific adjustments."
Access RDI's Biocept Research Report at:
https://ub.rdinvesting.com/news/?ticker=BIOC
Hornbeck Offshore Services shares declined 14.84 percent to close at $2.41 a share on Friday. The stock traded between $2.35 and $2.84 on volume of 1.70 million shares traded. The company reported a net loss of $27.9 million, or $0.76 per diluted share, for the first quarter of 2017, compared to a net loss of $7.5 million, or $0.21 per diluted share, in the same quarter a year ago. Revenues were $44.1 million for the first quarter of 2017, a decrease of 42.6 percent year-over-year. As of March 31, 2017, the Company had a cash balance of $209.1 million. Shares of Hornbeck Offshore Services have fallen approximately 66.62 percent year-to-date.
Access RDI's Hornbeck Offshore Services Research Report at:
https://ub.rdinvesting.com/news/?ticker=HOS
Our Actionable Research on Biocept Inc. (NASDAQ: BIOC) and Hornbeck Offshore Services, Inc. (NYSE: HOS) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
