Bioamber (BIOA) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research downgraded shares of Bioamber (NYSE:BIOA) from a hold rating to a sell rating in a research report sent to investors on Wednesday.
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 a number of other research reports. ValuEngine lowered shares of Bioamber from a sell rating to a strong sell rating in a research report on Friday, December 1st. Cowen reiterated a hold rating and issued a $1.00 price target on shares of Bioamber in a report on Friday, November 10th. Finally, HC Wainwright reiterated a buy rating and issued a $12.00 price target on shares of Bioamber in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $6.50.
Bioamber (NYSE:BIOA) last announced its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter. Bioamber had a negative return on equity of 48.72% and a negative net margin of 238.43%. sell-side analysts forecast that Bioamber will post -0.53 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in BIOA. Bank of New York Mellon Corp boosted its holdings in shares of 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 valued at $139,000 after purchasing an additional 41,701 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Bioamber by 9.9% in the 2nd quarter. Vanguard Group Inc. now owns 303,360 shares of the biotechnology company’s stock valued at $780,000 after purchasing an additional 27,278 shares during the last quarter. FMR LLC boosted its holdings in shares of Bioamber by 1.9% in the 2nd quarter. FMR LLC now owns 1,360,000 shares of the biotechnology company’s stock valued at $3,495,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Robecosam AG boosted its holdings in shares of Bioamber by 82.9% in the 3rd quarter. Robecosam AG now owns 1,478,000 shares of the biotechnology company’s stock valued at $741,000 after purchasing an additional 670,000 shares during the last quarter. Institutional investors own 29.97% of the company’s stock.
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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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