Bioamber (BIOA) Stock Rating Lowered by Zacks Investment Research

Bioamber (NYSE:BIOA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “

BIOA has been the topic of several other research reports. Cowen restated a “hold” rating and issued a $1.00 price target on shares of Bioamber in a research report on Friday, November 10th. ValuEngine lowered shares of Bioamber from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Bioamber in a research note on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.50.

Bioamber (NYSE:BIOA) traded up $0.06 during trading on Tuesday, reaching $0.16. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.75 and a current ratio of 1.08. The firm has a market cap of $3.39, a price-to-earnings ratio of -0.23 and a beta of 2.52. Bioamber has a one year low of $0.07 and a one year high of $3.74.

Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in Bioamber by 336.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 54,106 shares of the biotechnology company’s stock worth $139,000 after purchasing an additional 41,701 shares during the period. Robecosam AG boosted its stake in Bioamber by 82.9% in the 3rd quarter. Robecosam AG now owns 1,478,000 shares of the biotechnology company’s stock worth $741,000 after purchasing an additional 670,000 shares during the period. Vanguard Group Inc. boosted its stake in Bioamber by 9.9% in the 2nd quarter. Vanguard Group Inc. now owns 303,360 shares of the biotechnology company’s stock worth $780,000 after purchasing an additional 27,278 shares during the period. Finally, FMR LLC boosted its stake 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. 29.97% of the stock is owned by hedge funds and other institutional investors.

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Bioamber Company Profile

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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