BlackRock Inc. increased its holdings in shares of Marrone Bio Innovations Inc (NASDAQ:MBII) by 3,362.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,694,051 shares of the basic materials company’s stock after acquiring an additional 2,616,245 shares during the quarter. BlackRock Inc. owned about 2.64% of Marrone Bio Innovations worth $4,957,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the stock. Spark Investment Management LLC bought a new position in Marrone Bio Innovations during the second quarter worth about $165,000. Schwab Charles Investment Management Inc. bought a new position in Marrone Bio Innovations during the second quarter worth about $188,000. Bank of New York Mellon Corp bought a new position in Marrone Bio Innovations during the second quarter worth about $214,000. Finally, ICM Asset Management Inc. WA bought a new position in Marrone Bio Innovations during the second quarter worth about $460,000. 23.23% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:MBII opened at $1.54 on Friday. Marrone Bio Innovations Inc has a 52 week low of $0.85 and a 52 week high of $3.39. The stock has a market cap of $178.05 million, a P/E ratio of -1.44 and a beta of -0.29. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.76 and a current ratio of 3.64.
Marrone Bio Innovations (NASDAQ:MBII) last released its quarterly earnings results on Tuesday, August 14th. The basic materials company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $5.75 million for the quarter, compared to the consensus estimate of $7.01 million. Equities research analysts anticipate that Marrone Bio Innovations Inc will post -0.2 earnings per share for the current year.
A number of equities analysts recently commented on MBII shares. Zacks Investment Research raised shares of Marrone Bio Innovations from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a research report on Tuesday, August 21st. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Marrone Bio Innovations in a research report on Wednesday, August 15th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Marrone Bio Innovations presently has a consensus rating of “Hold” and a consensus price target of $2.52.
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Marrone Bio Innovations Profile
Marrone Bio Innovations, Inc provides bio-based pest management and plant health products primarily for agricultural and water markets in the United States and internationally. It offers herbicides; fungicides; nematicides; insecticides; algaecides for algae control; molluscicides for mussel and snail control; plant growth and stress regulators; and water treatment products for various applications, such as hydroelectric and thermoelectric power generation, industrial applications, drinking water, aquaculture, irrigation, and recreation.
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