BioAmber Inc. (BIOA) Rating Lowered to Sell at Zacks Investment Research
BioAmber Inc. (NYSE:BIOA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “BioAmber Inc. is a bio-based chemicals company. It produces and sells bio-succinic acid. The company’s technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstock into chemicals for use in products including plastics, resins, food additives and personal care products. It operates in France, China, Canada, and the United States. BioAmber Inc. is based in Plymouth, Minnesota. “
A number of other research firms have also issued reports on BIOA. AltaCorp Capital lowered BioAmber from an “outperform” rating to a “speculative” rating in a research report on Monday, March 13th. ValuEngine raised BioAmber from a “strong sell” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Cowen and Company assumed coverage on BioAmber in a research report on Wednesday, April 12th. They issued a “market perform” rating and a $2.50 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. BioAmber has a consensus rating of “Hold” and a consensus price target of $3.92.
BioAmber (NYSE BIOA) traded down 3.72% during trading on Tuesday, reaching $2.59. The company’s stock had a trading volume of 40,176 shares. BioAmber has a 1-year low of $1.88 and a 1-year high of $6.50. The stock’s market capitalization is $96.02 million. The stock has a 50 day moving average price of $2.33 and a 200 day moving average price of $3.19.
BioAmber (NYSE:BIOA) last posted its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.18. The company had revenue of $2.12 million during the quarter, compared to analyst estimates of $3.65 million. BioAmber had a negative net margin of 127.85% and a negative return on equity of 59.01%. Analysts anticipate that BioAmber will post ($0.43) earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIOA. Sabby Management LLC acquired a new position in BioAmber during the first quarter worth approximately $3,388,000. FMR LLC increased its position in BioAmber by 18.7% in the first quarter. FMR LLC now owns 1,335,000 shares of the biotechnology company’s stock worth $3,097,000 after buying an additional 210,000 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in BioAmber during the first quarter worth approximately $2,548,000. Finally, Robecosam AG increased its position in BioAmber by 3.1% in the first quarter. Robecosam AG now owns 825,000 shares of the biotechnology company’s stock worth $1,898,000 after buying an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 41.15% of the company’s stock.
BioAmber Inc (BioAmber), formerly DNP Green Technology, Inc, is an industrial biotechnology company, which produces sustainable chemicals. The Company’s technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstocks into sustainable chemicals that are replacements for petroleum-derived chemicals, which are used in a range of everyday products, including plastics, food additives and personal care products.
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