Ocean Bio-Chem (NASDAQ:OBCI) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Ocean Bio-Chem (NASDAQ:OBCIGet Rating) in a research note issued to investors on Tuesday. The firm set a “buy” rating on the stock.

OBCI opened at $6.40 on Tuesday. Ocean Bio-Chem has a fifty-two week low of $6.24 and a fifty-two week high of $13.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.74 and a quick ratio of 4.14. The company has a market cap of $60.86 million, a price-to-earnings ratio of 7.80 and a beta of 0.37. The firm has a 50 day simple moving average of $7.32 and a 200 day simple moving average of $8.32.

Ocean Bio-Chem (NASDAQ:OBCIGet Rating) last issued its earnings results on Monday, May 16th. The company reported $0.14 EPS for the quarter. Ocean Bio-Chem had a net margin of 12.20% and a return on equity of 16.72%. The firm had revenue of $12.74 million during the quarter.

Large investors have recently modified their holdings of the business. Citadel Advisors LLC bought a new stake in Ocean Bio-Chem in the third quarter valued at approximately $93,000. BlackRock Inc. increased its stake in Ocean Bio-Chem by 637.3% in the third quarter. BlackRock Inc. now owns 10,846 shares of the company’s stock valued at $102,000 after purchasing an additional 9,375 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Ocean Bio-Chem by 14.5% in the fourth quarter. Stifel Financial Corp now owns 25,475 shares of the company’s stock valued at $222,000 after buying an additional 3,225 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Ocean Bio-Chem by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 79,472 shares of the company’s stock valued at $691,000 after buying an additional 1,988 shares during the period. Finally, Ancora Advisors LLC boosted its holdings in shares of Ocean Bio-Chem by 101.6% in the first quarter. Ancora Advisors LLC now owns 124,600 shares of the company’s stock valued at $1,496,000 after buying an additional 62,794 shares during the period. 8.03% of the stock is owned by hedge funds and other institutional investors.

About Ocean Bio-Chem (Get Rating)

Ocean Bio-Chem, Inc manufactures, markets, and distributes appearance, performance, and maintenance products for the marine, automotive, power sports, recreational vehicle, home care, and outdoor power equipment markets in the United States and Canada. The company offers marine products, including polishes, cleaners, protectants, waxes, enzyme fuel treatments, private label products, motor and teak oils, boat washes, vinyl and teak cleaners, bilge and hull cleaners, silicone and polyurethane sealants, polysulfide sealants, gasket materials, lubricants, antifouling additives, and anti-freeze coolants; and brushes, brush handles, tie-downs, and other related accessories.

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