BioAmber Inc. (BIOA) Downgraded by ValuEngine to Strong Sell
ValuEngine cut shares of BioAmber Inc. (NYSE:BIOA) from a sell rating to a strong sell rating in a report published on Tuesday.
Other equities analysts also recently issued reports about the company. Cowen and Company assumed coverage on BioAmber in a research report on Wednesday, April 12th. They set a market perform rating and a $2.50 price target on the stock. Zacks Investment Research raised shares of BioAmber from a sell rating to a hold rating in a report on Wednesday, July 26th.
BioAmber (NYSE:BIOA) traded down 10.3655% on Tuesday, reaching $0.4782. The company’s stock had a trading volume of 874,930 shares. BioAmber has a one year low of $0.46 and a one year high of $6.50. The company’s market capitalization is $17.74 million. The firm has a 50-day moving average of $2.15 and a 200-day moving average of $2.58.
BioAmber (NYSE:BIOA) last issued its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.03. The business had revenue of $4.12 million for the quarter, compared to analyst estimates of $4.09 million. BioAmber had a negative return on equity of 56.55% and a negative net margin of 221.82%. Analysts predict that BioAmber will post ($0.48) EPS for the current year.
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Several large investors have recently made changes to their positions in the stock. NN Investment Partners Holdings N.V. raised its stake in shares of BioAmber by 160.7% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,864,155 shares of the biotechnology company’s stock worth $7,362,000 after buying an additional 1,765,579 shares during the period. Sabby Management LLC acquired a new stake in BioAmber during the first quarter valued at approximately $3,388,000. FMR LLC acquired a new stake in BioAmber during the fourth quarter valued at approximately $6,188,000. TD Asset Management Inc. acquired a new stake in BioAmber during the second quarter valued at approximately $977,000. Finally, Bank of New York Mellon Corp raised its stake in BioAmber by 336.2% in the second 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 last quarter. 46.96% of the stock is currently owned by hedge funds and other institutional investors.
BioAmber Company Profile
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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