RiceBran Technologies (NASDAQ:RIBT) Downgraded by ValuEngine

RiceBran Technologies (NASDAQ:RIBT) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Monday, ValuEngine reports.

RIBT stock traded up $0.13 during mid-day trading on Monday, reaching $2.82. The company had a trading volume of 56,796 shares, compared to its average volume of 66,225. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 2.01. The firm has a fifty day simple moving average of $2.64 and a 200 day simple moving average of $2.84. RiceBran Technologies has a fifty-two week low of $2.16 and a fifty-two week high of $3.87.

RiceBran Technologies (NASDAQ:RIBT) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.04). The company had revenue of $6.22 million during the quarter. RiceBran Technologies had a negative net margin of 52.99% and a negative return on equity of 39.12%.

In related news, major shareholder Grain Co Continental purchased 17,535 shares of RiceBran Technologies stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $2.69 per share, with a total value of $47,169.15. Following the transaction, the insider now directly owns 7,326,152 shares of the company’s stock, valued at $19,707,348.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Baruch Halpern sold 11,289 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $2.65, for a total value of $29,915.85. Following the completion of the sale, the director now directly owns 193,231 shares in the company, valued at approximately $512,062.15. The disclosure for this sale can be found here. Insiders acquired a total of 79,962 shares of company stock worth $211,912 in the last ninety days. 8.69% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Comprehensive Portfolio Management LLC acquired a new stake in shares of RiceBran Technologies during the 3rd quarter worth about $33,000. Citadel Advisors LLC acquired a new stake in shares of RiceBran Technologies during the 2nd quarter worth about $38,000. LPL Financial LLC raised its position in shares of RiceBran Technologies by 13.2% during the 2nd quarter. LPL Financial LLC now owns 53,457 shares of the company’s stock worth $156,000 after acquiring an additional 6,235 shares in the last quarter. Wedbush Securities Inc. raised its position in shares of RiceBran Technologies by 25.0% during the 2nd quarter. Wedbush Securities Inc. now owns 125,000 shares of the company’s stock worth $364,000 after acquiring an additional 25,000 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of RiceBran Technologies by 136.7% during the 2nd quarter. BlackRock Inc. now owns 126,011 shares of the company’s stock worth $367,000 after acquiring an additional 72,778 shares in the last quarter. 31.11% of the stock is currently owned by institutional investors and hedge funds.

About RiceBran Technologies

RiceBran Technologies processes and markets healthy, natural, and nutrient dense products derived from raw rice bran. The company manufactures and distributes stabilized rice bran (SRB) in various granulations with other products and derivatives. It offers RiBalance, a rice bran nutritional package derived from further processing of SRB; RiSolubles, a nutritious carbohydrate and lipid rich fraction of RiBalance; RiFiber, a protein and fiber rich derivative of RiBalance; and protein and protein/fiber blends under the ProRyza brand.

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