Essex Investment Management Co. LLC cut its stake in BioAmber Inc. (NYSE:BIOA) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 101,362 shares of the company’s stock after selling 340 shares during the period. Essex Investment Management Co. LLC’s holdings in BioAmber were worth $302,000 as of its most recent filing with the SEC.
Separately, Royce & Associates LP increased its position in BioAmber by 4.7% in the first quarter. Royce & Associates LP now owns 964,879 shares of the company’s stock valued at $4,052,000 after buying an additional 43,000 shares in the last quarter. Institutional investors and hedge funds own 42.10% of the company’s stock.
Shares of BioAmber Inc. (NYSE:BIOA) traded down 0.44% on Friday, reaching $4.54. The company had a trading volume of 65,250 shares. BioAmber Inc. has a 52 week low of $2.86 and a 52 week high of $8.86. The stock’s 50 day moving average is $3.89 and its 200 day moving average is $3.73. The firm’s market capitalization is $130.92 million.
BioAmber (NYSE:BIOA) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.02. BioAmber had a negative net margin of 381.99% and a negative return on equity of 65.99%. The business earned $2.50 million during the quarter, compared to the consensus estimate of $2.37 million. On average, equities analysts anticipate that BioAmber Inc. will post ($0.73) EPS for the current year.
Several research analysts have recently commented on BIOA shares. Zacks Investment Research upgraded BioAmber from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. Canaccord Genuity restated a “buy” rating and set a $5.50 price target on shares of BioAmber in a report on Sunday, August 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $12.85.
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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