RiceBran Technologies (RIBT) Rating Reiterated by Maxim Group
The analysts wrote, “3Q17 revenue of $3.4M, up 6.0% y/y on an apples-to-apples basis, was inline with consensus of $3.4M, but slightly below our estimate of $3.6M. Gross margin of 33.1%, up 800bps y/y, was above both our estimate of 27.6% and consensus of 26.4%. GAAP EPS of $0.30 was below our estimate of $0.42, but above consensus of $0.13. This includes ($0.38) from continuing operations and $0.67 from discontinued operations. Positive adjusted EBITDA is the next major initiative for the company. Management believes it can achieve this by reaching $19M-$22M in revenue and expects this to occur within the next 12-24 months.””
Separately, ValuEngine raised RiceBran Technologies from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th.
RiceBran Technologies (NASDAQ:RIBT) traded down $0.02 during midday trading on Friday, hitting $1.24. The stock had a trading volume of 5,800 shares, compared to its average volume of 14,583. RiceBran Technologies has a 12 month low of $0.69 and a 12 month high of $1.40. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 1.09.
RiceBran Technologies (NASDAQ:RIBT) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.04). RiceBran Technologies had a negative return on equity of 241.74% and a negative net margin of 18.06%. The company had revenue of $3.15 million during the quarter, compared to analyst estimates of $10.70 million.
A hedge fund recently bought a new stake in RiceBran Technologies stock. First Eagle Investment Management LLC acquired a new stake in RiceBran Technologies (NASDAQ:RIBT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 199,978 shares of the company’s stock, valued at approximately $256,000. First Eagle Investment Management LLC owned 1.19% of RiceBran Technologies as of its most recent SEC filing. Hedge funds and other institutional investors own 4.29% of the company’s stock.
RiceBran Technologies Company Profile
RiceBran Technologies is a human food ingredient, functional food ingredient, packaged functional food and animal nutrition company. The Company is focused on processing and marketing of nutrient dense products derived from raw rice, an underutilized by-product of the rice milling industry. The Company has two operating segments.
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