Marrone Bio Innovations Stock Rating Lowered by Robert W. Baird (MBII)
Marrone Bio Innovations (NASDAQ:MBII) was downgraded by investment analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. They currently have a $12.00 price target on the stock, down from their previous price target of $15.00. Robert W. Baird’s price objective would indicate a potential upside of 117.79% from the stock’s previous close.
Marrone Bio Innovations (NASDAQ:MBII) traded down 42.24% during mid-day trading on Friday, hitting $5.51. The stock had a trading volume of 1,374,791 shares. Marrone Bio Innovations has a 52-week low of $5.31 and a 52-week high of $20.00. The stock’s 50-day moving average is $10.16 and its 200-day moving average is $12.36. The company’s market cap is $114.5 million.
Marrone Bio Innovations (NASDAQ:MBII) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by $0.03. On average, analysts predict that Marrone Bio Innovations will post $-1.75 earnings per share for the current fiscal year.
MBII has been the subject of a number of other recent research reports. Analysts at Piper Jaffray downgraded shares of Marrone Bio Innovations from an “overweight” rating to a “neutral” rating in a research note on Friday. They now have a $11.00 price target on the stock, down previously from $19.00. Analysts at Jefferies Group cut their price target on shares of Marrone Bio Innovations from $23.00 to $18.00 in a research note on Monday, June 9th. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $16.00.
Marrone Bio Innovations, Inc is a provider of bio-based pest management and plant health products. Bio-based products are consists of naturally occurring microorganisms, such as bacteria and fungi, and plant extracts.
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