Zacks Investment Research Lowers Bioamber (BIOA) to Sell

Zacks Investment Research downgraded shares of Bioamber (NYSE:BIOA) from a hold rating to a sell rating in a report issued on Wednesday.

According to Zacks, “BioAmber Inc. is a bio-based chemicals company. It produces and sells bio-succinic acid. The company’s technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstock into chemicals for use in products including plastics, resins, food additives and personal care products. It operates in France, China, Canada, and the United States. BioAmber Inc. is based in Plymouth, Minnesota. “

Several other brokerages also recently issued reports on BIOA. HC Wainwright reiterated a buy rating and set a $12.00 price target on shares of Bioamber in a report on Wednesday, November 8th. Cowen reiterated a hold rating and set a $1.00 price target on shares of Bioamber in a report on Friday, November 10th. Finally, ValuEngine downgraded Bioamber from a sell rating to a strong sell rating in a report on Friday, December 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. Bioamber has a consensus rating of Hold and a consensus price target of $6.50.

Shares of Bioamber (NYSE BIOA) opened at $0.40 on Wednesday. Bioamber has a 1-year low of $0.32 and a 1-year high of $4.02. The stock has a market capitalization of $20.90, a price-to-earnings ratio of -0.57 and a beta of 2.52. The company has a current ratio of 1.08, a quick ratio of 0.75 and a debt-to-equity ratio of 0.24.

Bioamber (NYSE:BIOA) last announced its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter. Bioamber had a negative return on equity of 48.72% and a negative net margin of 238.43%. analysts forecast that Bioamber will post -0.53 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in Bioamber by 1.9% during the second quarter. FMR LLC now owns 1,360,000 shares of the biotechnology company’s stock worth $3,495,000 after buying an additional 25,000 shares in the last quarter. Vanguard Group Inc. boosted its position in Bioamber by 9.9% in the second quarter. Vanguard Group Inc. now owns 303,360 shares of the biotechnology company’s stock worth $780,000 after purchasing an additional 27,278 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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 worth $139,000 after purchasing an additional 41,701 shares during the last quarter. Finally, Robecosam AG boosted its position in Bioamber by 82.9% in the third quarter. Robecosam AG now owns 1,478,000 shares of the biotechnology company’s stock worth $741,000 after purchasing an additional 670,000 shares during the last quarter. Institutional investors and hedge funds own 29.97% of the company’s stock.

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About Bioamber

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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