CEA Industries (NASDAQ:BNC) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of CEA Industries (NASDAQ:BNC) from a sell rating to a strong sell rating in a report issued on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings raised CEA Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, September 14th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

CEA Industries Stock Performance

NASDAQ BNC opened at $6.57 on Friday. CEA Industries has a 1 year low of $1.84 and a 1 year high of $12.00. The business’s fifty day moving average is $3.29 and its two-hundred day moving average is $3.00. The stock has a market capitalization of $270.49 million, a P/E ratio of 1.19 and a beta of 0.61.

CEA Industries (NASDAQ:BNC) last released its quarterly earnings data on Tuesday, June 23rd. The company reported $6.20 earnings per share for the quarter. The business had revenue of $7.35 million during the quarter. CEA Industries had a return on equity of 64.29% and a net margin of 362.26%.

Hedge Funds Weigh In On CEA Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BNC. BTG Pactual Asset Management US LLC purchased a new position in shares of CEA Industries during the second quarter valued at $1,077,000. Saba Capital Management L.P. lifted its stake in CEA Industries by 3.5% in the 1st quarter. Saba Capital Management L.P. now owns 1,143,533 shares of the company’s stock worth $3,339,000 after acquiring an additional 38,242 shares in the last quarter. Weiss Asset Management LP purchased a new stake in CEA Industries in the 1st quarter worth about $43,000. Aristides Capital LLC acquired a new stake in CEA Industries during the 4th quarter worth about $187,000. Finally, Arrington Capital Management LLC acquired a new stake in CEA Industries during the 4th quarter worth about $2,058,000.

About CEA Industries

CEA Industries Inc (NASDAQ:BNC) is a holding company focused on the cannabis industry. The company seeks to acquire, develop and support consumer brands and operating businesses serving cannabis markets.

Rather than focusing on a single product, CEA Industries’ strategy is centered on building a portfolio of cannabis-related businesses. Its activities may include identifying acquisition opportunities, providing strategic support to portfolio companies and developing brands intended for regulated cannabis consumers.

The company has historically been associated with controlled-environment agriculture, including technologies and products used in indoor and greenhouse cultivation.