Bioamber (BIOA) Rating Lowered to Strong Sell at ValuEngine

Bioamber (NYSE:BIOA) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Friday.

BIOA has been the topic of several other reports. Cowen reiterated a “hold” rating and set a $1.00 target price on shares of Bioamber in a research note on Friday, November 10th. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Bioamber in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Bioamber currently has a consensus rating of “Hold” and an average price target of $6.50.

Shares of Bioamber (NYSE BIOA) traded down $0.02 on Friday, reaching $0.42. The company’s stock had a trading volume of 938,709 shares, compared to its average volume of 1,356,169. The company has a current ratio of 1.08, a quick ratio of 0.75 and a debt-to-equity ratio of 0.24. Bioamber has a 1-year low of $0.32 and a 1-year high of $6.24.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Bioamber by 336.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 54,106 shares of the biotechnology company’s stock valued at $139,000 after buying an additional 41,701 shares during the period. Robecosam AG lifted its holdings in shares of Bioamber by 82.9% during the 3rd quarter. Robecosam AG now owns 1,478,000 shares of the biotechnology company’s stock valued at $741,000 after buying an additional 670,000 shares during the period. FMR LLC lifted its holdings in shares of Bioamber by 1.9% during the 2nd quarter. FMR LLC now owns 1,360,000 shares of the biotechnology company’s stock valued at $3,495,000 after buying an additional 25,000 shares during the period. TD Asset Management Inc. bought a new position in shares of Bioamber during the 2nd quarter valued at $977,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Bioamber by 9.9% during the 2nd quarter. Vanguard Group Inc. now owns 303,360 shares of the biotechnology company’s stock valued at $780,000 after buying an additional 27,278 shares during the period. 29.97% of the stock is currently owned by hedge funds and other institutional investors.

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About Bioamber

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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