Insider Buying: George H. Kerckhove Purchases 400 Shares of Marrone Bio Innovations Stock (MBII)
Marrone Bio Innovations (NASDAQ:MBII) Director George H. Kerckhove purchased 400 shares of the stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average price of $5.90 per share, for a total transaction of $2,360.00. Following the acquisition, the director now directly owns 500 shares of the company’s stock, valued at approximately $2,950. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Marrone Bio Innovations (NASDAQ:MBII) traded up 4.32% during mid-day trading on Friday, hitting $5.79. 186,505 shares of the company’s stock traded hands. Marrone Bio Innovations has a one year low of $5.13 and a one year high of $20.00. The stock’s 50-day moving average is $9.3 and its 200-day moving average is $11.90. The company’s market cap is $141.3 million.
Marrone Bio Innovations (NASDAQ:MBII) last issued its quarterly earnings data 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 $-1.77 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Marrone Bio Innovations from an “outperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $6.60 price target on the stock. Separately, analysts at Robert W. Baird downgraded shares of Marrone Bio Innovations from an “outperform” rating to a “neutral” rating in a research note on Friday, August 8th. They now have a $12.00 price target on the stock, down previously from $15.00. Finally, analysts at Piper Jaffray downgraded shares of Marrone Bio Innovations from an “overweight” rating to a “neutral” rating in a research note on Friday, August 8th. They now have a $11.00 price target on the stock, down previously from $19.00. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.43.
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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