Biotricity (BTCY) is Developing New Products, Growing Revenues by Triple Digits and Ringing the Opening Bell on the NASDAQ Stock Market
Biotricity (BTCY) has consolidated and is bouncing off from support with a gap to fill and an RSI (14) of 36.25
Good day everyone,
Updated coverage on Biotricity, Inc. (NASDAQ: BTCY), a medical diagnostic and consumer healthcare technology company.
Current price $2.76/share (at market close 10-6-21)
Since I covered BTCY three weeks ago the company shares have consolidated creating a “buy the dip” opportunity. We are seeing a lot of these opportunities given the consolidation in the NASDAQ index over that same period.
I also mentioned that “on August 26, 2021, BTCY up listed from the OTCQB Market to the NASDAQ. This brand-new up list to the NASDAQ could broaden awareness among investors as well as opening the door to institutional investors precluded from investing in OTC equities.”
Investor awareness of BTCY is likely exploding as you are reading this because this morning BTCY, this juggernaut with the triple digit revenue growth is RINGING THE OPENING BELL on the NASDAQ stock market. Congratulations to CEO Waqaas Al Siddiq and members of the Biotricity management team on this occasion recognizing all their achievements.
Modest share structure with 46M/shares (est.) outstanding and 31.8M/shares (est.) in the public float.
Triple digit revenue growth,
FYE 3-31-20 $1.4M (+260% YoY)
FYE 3-31-21 $3.3M (+240% YoY)
FYE 3-31-22 (pro forma) $7.0M (+ 215% YoY)
Three analysts have issued recent price targets for BTCY with a consensus price target of $6.67 per share, represent a potential upside of 240% from the current price.
9/10/2021 Maxim Group Reiterated Buy $6.00
7/1/2021 Northland Securities Initiated Outperform $7.00
7/1/2021 Noble Financial Initiated Outperform $7.00
BTCY shares are trading 45% off their 52-week high.
I believe that BTCY has recognized, and is exploiting, a new paradigm in the healthcare system by creating products to allow physicians to monitor patients from remote locations, eliminating the need for office visits just to gather data. BTCY products allow the physician to monitor patient data in real time.
The company has started with products for patients with heart conditions with Bioflux, currently the company’s flagship product. Bioflux®, is a single, integrated mobile cardiac telemetry solution that consists of a proprietary mobile ECG monitoring device and an ECG viewer software package. Bioflux has now been complimented with the new Biokit product. Biokit is a wirelessly connected personal medical device kit that was developed to address the challenges with existing home-based medical devices.
BTCY is creating a seamless, wireless data recording system for cardiac patients that may reduce the number of office visits. Many office visits have the function of just collecting this data that BTCY is making available to your doctor wirelessly and perhaps requiring an office visit only when there is an anomaly in your data. Every patient currently using Bioflux is a candidate for Biokit.
I said above that BTCY is starting with monitoring devices for cardiac patients. Today the company’s focus is the cardiac sector, but we believe their technology could lead them into the diabetic, sleep apnea, and other indications that could benefit from real-time remote data collection as well.
The current setup looks very good.
The Traders News Group
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