Bioamber (BIOA) Rating Lowered 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 research report issued to clients and investors on Wednesday, January 31st.

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 brokerages have also weighed in on BIOA. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Bioamber in a research note on Wednesday, November 8th. Cowen restated a “hold” rating and set a $1.00 price target on shares of Bioamber in a report on Friday, November 10th. Finally, ValuEngine lowered shares of Bioamber from a “sell” rating to a “strong sell” rating in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $6.50.

Bioamber (NYSE:BIOA) opened at $0.07 on Wednesday. The company has a market cap of $1.21, a PE ratio of -0.10 and a beta of 2.52. Bioamber has a 1 year low of $0.05 and a 1 year high of $3.74. 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 bought and sold shares of BIOA. Robecosam AG boosted its holdings in shares of Bioamber by 82.9% during the 3rd quarter. Robecosam AG now owns 1,478,000 shares of the biotechnology company’s stock worth $741,000 after buying an additional 670,000 shares during the period. Bank of New York Mellon Corp lifted its holdings 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 worth $139,000 after acquiring an additional 41,701 shares during the period. Vanguard Group Inc. lifted its holdings 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 worth $780,000 after acquiring an additional 27,278 shares during the period. Finally, FMR LLC lifted its holdings 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 worth $3,495,000 after acquiring an additional 25,000 shares during the period. 29.97% of the stock is owned by institutional investors and hedge funds.

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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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