BioAmber (NY:BIOA) Reaches New 1-Year Low Posted by Anthony Sawyer on Aug 6th, 2017
BioAmber (NYSE:BIOA)’s share price reached a new 52-week low on Friday after weaker than expected quarterly earnings. The stock traded as low as $1.65 and last traded at $1.61, with a volume of 313,041 shares changing hands. The stock had previously closed at $2.24.
The biotechnology company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by $0.03. BioAmber had a negative net margin of 221.82% and a negative return on equity of 60.02%. The business had revenue of $4.12 million during the quarter, compared to analysts’ expectations of $4.09 million.
Several research firms have commented on BIOA. ValuEngine lowered shares of BioAmber from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of BioAmber from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. Finally, Cowen set a $3.00 price target on shares of BioAmber and gave the company a “hold” rating in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock.The stock has a consensus rating of “Hold” and an average target price of $4.08.
Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in BioAmber by 336% in the second quarter.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. TD Asset Management purchased a new stake in BioAmber during the second quarter valued at about $977,000. Robecosam AG raised its stake in BioAmber by 3.1% in the first quarter. Robecosam AG now owns 825,000 shares of the biotechnology company’s stock valued at $1,898,000 after buying an additional 25,000 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in BioAmber during the first quarter valued at about $2,548,000. Finally, FMR LLC purchased a new stake in BioAmber during the fourth quarter valued at about $6,188,000. 45.93% of the stock is currently owned by institutional investors and hedge funds.
The stock’s market cap is $56.35 million. The stock has a 50 day moving average of $2.47 and a 200-day moving average of $2.78.
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.