Bioamber (BIOA) Rating Lowered to Strong Sell at ValuEngine
Bioamber (NYSE:BIOA) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Friday.
A number of other equities research analysts have also issued reports on BIOA. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Bioamber in a report on Wednesday, November 8th. Cowen restated a “hold” rating and set a $1.00 price target on shares of Bioamber in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Bioamber currently has a consensus rating of “Hold” and a consensus price target of $6.50.
Bioamber (NYSE BIOA) traded down $0.02 during mid-day trading on Friday, hitting $0.42. 938,709 shares of the stock were exchanged, compared to its average volume of 1,356,169. Bioamber has a twelve month low of $0.32 and a twelve month high of $6.24. The company has a current ratio of 1.08, a quick ratio of 0.75 and a debt-to-equity ratio of 0.24.
Several hedge funds have recently added to or reduced their stakes in the company. Robecosam AG raised its holdings in shares of Bioamber by 82.9% during the third quarter. Robecosam AG now owns 1,478,000 shares of the biotechnology company’s stock valued at $741,000 after acquiring an additional 670,000 shares during the period. FMR LLC increased its stake in 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 buying an additional 25,000 shares during the period. Vanguard Group Inc. increased 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 valued at $780,000 after buying an additional 27,278 shares during the period. Bank of New York Mellon Corp increased 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 valued at $139,000 after buying an additional 41,701 shares during the period. Finally, TD Asset Management Inc. acquired a new position in Bioamber in the 2nd quarter valued at approximately $977,000. Institutional investors and hedge funds 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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