BioAmber Inc. (BIOA) Stock Rating Lowered by ValuEngine
BioAmber Inc. (NYSE:BIOA) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday.
Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of BioAmber from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. Cowen and Company started coverage on shares of BioAmber in a report on Wednesday, April 12th. They issued a “market perform” rating and a $2.50 price objective for the company.
BioAmber (NYSE BIOA) traded down 47.172% during trading on Tuesday, reaching $0.523. The company had a trading volume of 3,962,945 shares. The company has a 50-day moving average price of $2.43 and a 200 day moving average price of $2.76. BioAmber has a one year low of $0.52 and a one year high of $6.50. The company’s market capitalization is $19.39 million.
BioAmber (NYSE:BIOA) last issued its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.03. BioAmber had a negative return on equity of 60.02% and a negative net margin of 221.82%. The firm had revenue of $4.12 million during the quarter, compared to the consensus estimate of $4.09 million. Analysts expect that BioAmber will post ($0.42) earnings per share for the current year.
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Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of BioAmber by 336.2% in the second quarter. Bank of New York Mellon Corp now owns 54,106 shares of the biotechnology company’s stock worth $139,000 after buying an additional 41,701 shares during the period. TD Asset Management Inc. bought a new stake in shares of BioAmber during the second quarter worth $977,000. NN Investment Partners Holdings N.V. raised its stake in shares of BioAmber by 160.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,864,155 shares of the biotechnology company’s stock worth $7,362,000 after buying an additional 1,765,579 shares during the last quarter. Sabby Management LLC bought a new stake in shares of BioAmber during the first quarter worth $3,388,000. Finally, FMR LLC raised its stake in shares of 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. 46.96% of the stock is currently owned by institutional investors and hedge funds.
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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