Bioamber (BIOA) Downgraded to Sell at Zacks Investment Research

Bioamber (NYSE:BIOA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

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. “

A number of other research analysts also recently issued reports on BIOA. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Bioamber in a research report on Wednesday, November 8th. Cowen restated a “hold” rating and issued a $1.00 price target on shares of Bioamber in a research report on Friday, November 10th. Finally, ValuEngine downgraded shares of Bioamber from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. Bioamber presently has a consensus rating of “Hold” and an average target price of $6.50.

Shares of Bioamber (NYSE BIOA) traded down $0.01 during midday trading on Tuesday, hitting $0.39. 528,889 shares of the stock were exchanged, compared to its average volume of 538,250. The firm has a market cap of $20.33, a P/E ratio of -0.56 and a beta of 2.65. Bioamber has a 1 year low of $0.32 and a 1 year high of $6.24. The company has a quick ratio of 0.75, a current ratio of 1.08 and a debt-to-equity ratio of 0.24.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Robecosam AG lifted its position in shares of Bioamber by 82.9% in the 3rd 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 period. FMR LLC lifted its position in shares of Bioamber by 1.9% during the 2nd quarter. FMR LLC now owns 1,360,000 shares of the biotechnology company’s stock valued at $3,495,000 after acquiring an additional 25,000 shares during the period. Vanguard Group Inc. lifted its position in shares of Bioamber by 9.9% during the 2nd quarter. Vanguard Group Inc. now owns 303,360 shares of the biotechnology company’s stock valued at $780,000 after acquiring an additional 27,278 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Bioamber by 336.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 54,106 shares of the biotechnology company’s stock valued at $139,000 after acquiring an additional 41,701 shares during the period. Hedge funds and other institutional investors own 29.97% of the company’s stock.

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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.

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