Keep Your Eyes on Stock News: Ocean Bio-Chem (NASDAQ:OBCI)

Ocean Bio-Chem (NASDAQ:OBCI) stock identified change of 432.31% away from 52-week low price and recently located move of -27.10% off 52-week high price. It has market worth of $155.52M and dividend yield of 0.49%. OBCI stock has been recorded 9.58% away from 50 day moving average and 82.84% away from 200 day moving average. Moving closer, we can see that shares have been trading 11.57% off 20-day moving average.

On Oct. 19, 2020, Ocean Bio-Chem (NASDAQ:OBCI) reported record net sales for both the third quarter and first nine months of 2020.  For the third quarter 2020, net sales were approximately $19.2 million, compared to approximately $12.5 million for the third quarter of 2019, an increase of approximately $6.7 million or 53%.

For the first nine months of 2020, net sales were approximately $42.7 million, compared to approximately $32.5 million for the first nine months of 2019, an increase of approximately $10.2 million or 31%.

Ocean Bio-Chem President and CEO Peter Dornau commented, Our third quarter net sales continue to be exceptionally strong, building on the momentum of the second quarter 2020 record sales.  The previous record net sales for a third quarter was in 2018.  The Company shattered the 2018 second quarter record sales by approximately $6.0 million or 46%.  The largest product group sales growth, as previously disclosed was the Disinfectant line of products including Performacide®.  The Company’s sales also continue strong in all other major product categories, including Star brite® marine appearance and maintenance chemicals and accessories, as well as Star Tron® Enzyme Fuel Treatment.

The Industrials sector company, Ocean Bio-Chem noticed change of 20.53% to $16.44 along volume of 142688 shares in recent session compared to an average volume of 56.33K shares. The stock observed return of 9.67% in 5 days trading activity. The stock was at 9.24% over one month performance. OBCI’s shares are at -5.95% for the quarter and driving a 392.58% return over the course of the past year and is now at 398.53% since this point in 2018.

The average volatility for the week at 6.32% and for month was at 6.21%. There are 9.46M shares outstanding and 2.91M shares are floated in market. Right now the stock beta is 0.67.

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