Shares of RiceBran Technologies (NASDAQ:RIBT) traded down 2.3% during mid-day trading on Monday . The company traded as low as $1.27 and last traded at $1.28, 6,369 shares were traded during trading. A decline of 97% from the average session volume of 226,661 shares. The stock had previously closed at $1.31.
A number of equities research analysts have recently issued reports on the stock. Lake Street Capital cut their price target on shares of RiceBran Technologies from $4.50 to $2.50 and set a “positive” rating on the stock in a report on Tuesday. ValuEngine lowered shares of RiceBran Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 21st.
The stock’s fifty day moving average price is $1.69 and its 200-day moving average price is $2.47. The company has a current ratio of 1.61, a quick ratio of 1.44 and a debt-to-equity ratio of 0.11.
RiceBran Technologies (NASDAQ:RIBT) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). RiceBran Technologies had a negative net margin of 56.23% and a negative return on equity of 42.74%. The firm had revenue of $5.30 million for the quarter.
In related news, major shareholder Grain Co Continental acquired 3,200,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average cost of $1.25 per share, with a total value of $4,000,000.00. Following the completion of the transaction, the insider now owns 10,649,068 shares of the company’s stock, valued at approximately $13,311,335. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brent Robert Rystrom acquired 80,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average cost of $1.25 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the chief executive officer now directly owns 278,737 shares of the company’s stock, valued at approximately $348,421.25. The disclosure for this purchase can be found here. Insiders have bought 3,300,000 shares of company stock worth $4,125,000 in the last 90 days. 8.69% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Comprehensive Portfolio Management LLC purchased a new position in RiceBran Technologies during the third quarter valued at approximately $33,000. Citadel Advisors LLC purchased a new position in RiceBran Technologies during the second quarter valued at approximately $38,000. LPL Financial LLC grew its position in RiceBran Technologies by 13.2% during the second quarter. LPL Financial LLC now owns 53,457 shares of the company’s stock valued at $156,000 after purchasing an additional 6,235 shares in the last quarter. BlackRock Inc. grew its position in RiceBran Technologies by 136.7% during the second quarter. BlackRock Inc. now owns 126,011 shares of the company’s stock valued at $367,000 after purchasing an additional 72,778 shares in the last quarter. Finally, Wedbush Securities Inc. grew its position in RiceBran Technologies by 20.0% during the third quarter. Wedbush Securities Inc. now owns 150,000 shares of the company’s stock valued at $383,000 after purchasing an additional 25,000 shares in the last quarter. 26.32% of the stock is currently owned by hedge funds and other institutional investors.
About RiceBran Technologies (NASDAQ:RIBT)
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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