Marrone Bio Innovations (NASDAQ:MBII) Earns Buy Rating from HC Wainwright
HC Wainwright restated their buy rating on shares of Marrone Bio Innovations (NASDAQ:MBII) in a research report released on Monday, AnalystRatings.com reports. They currently have a $2.50 price target on the basic materials company’s stock.
“We have not yet incorporated the effect of the financing and the proposed acquisition in our model. If, and when, the transaction closes, we believe that the company’s revenues for 2019 should be expected to be higher, relative to our current expectation, by single-digit millions. Currently, we are projecting MBII to generate revenues of $30.3M in 2019. We expect revenues to reach $160.7M in 2025, growing at a six-year CAGR of 32.0%, relative to 2019 levels. We are estimating gross margin to stay at 55-56% level for the next several years.”,” HC Wainwright’s analyst commented.
Other equities research analysts have also recently issued reports about the company. Aegis began coverage on Marrone Bio Innovations in a report on Wednesday, July 24th. They issued a buy rating and a $2.00 price objective on the stock. National Securities restated a buy rating and set a $2.50 target price on shares of Marrone Bio Innovations in a report on Friday, August 9th.
Marrone Bio Innovations (NASDAQ:MBII) last posted its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.02). Marrone Bio Innovations had a negative return on equity of 157.42% and a negative net margin of 86.09%. The firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $9.01 million. As a group, equities research analysts anticipate that Marrone Bio Innovations will post -0.18 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Marrone Bio Innovations by 0.5% during the 4th quarter. BlackRock Inc. now owns 2,800,519 shares of the basic materials company’s stock worth $4,117,000 after purchasing an additional 14,014 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Marrone Bio Innovations by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 443,611 shares of the basic materials company’s stock worth $652,000 after purchasing an additional 24,460 shares during the last quarter. Spark Investment Management LLC boosted its holdings in shares of Marrone Bio Innovations by 47.5% during the 1st quarter. Spark Investment Management LLC now owns 95,000 shares of the basic materials company’s stock worth $145,000 after purchasing an additional 30,600 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Marrone Bio Innovations during the 1st quarter worth approximately $74,000. Finally, A.R.T. Advisors LLC acquired a new position in shares of Marrone Bio Innovations during the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 42.01% of the company’s stock.
Marrone Bio Innovations Company Profile
Marrone Bio Innovations, Inc provides bio-based pest management and plant health products primarily for agricultural and water markets in the United States and internationally. It offers herbicides; fungicides; nematicides; insecticides; algaecides for algae control; molluscicides for mussel and snail control; plant growth and stress regulators; and water treatment products for various applications, such as hydroelectric and thermoelectric power generation, industrial applications, drinking water, aquaculture, irrigation, and recreation.
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