Maxim Group Sticks to Its Buy Rating for BioHiTech Global Inc (BHTG)

In a report released yesterday, Tate Sullivan from Maxim Group maintained a Buy rating on BioHiTech Global Inc (BHTGResearch Report), with a price target of $2.75. The company’s shares closed last Monday at $2.20.

Sullivan said:

“We decrease our revenue and net income forecasts after BHTG reported 2Q19 revenue of $1.1M, below our $1.3M forecast, and a net loss per share of ($0.15), below our ($0.09) estimate.”

According to TipRanks.com, Sullivan is a 1-star analyst with an average return of -2.2% and a 45.0% success rate. Sullivan covers the Industrial Goods sector, focusing on stocks such as Envision Solar International Inc, Capstone Turbine Corp, and Ceco Environmental.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BioHiTech Global Inc with a $2.75 average price target.

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Based on BioHiTech Global Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.07 million. In comparison, last year the company had a GAAP net loss of $5.5 million.

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BioHiTech Global, Inc. engages in the provision of waste management services. Its products and services include food waste digesters, data analytics tools, traditional disposal services, and sophisticated facilities for processing municipal solid waste. The company was founded on March 20, 2013 and is headquartered in New York, NY.