RiceBran Technologies (NASDAQ:RIBT) Price Target Cut to $2.50

RiceBran Technologies (NASDAQ:RIBT) had its target price reduced by equities researchers at Lake Street Capital from $4.50 to $2.50 in a research note issued on Tuesday, The Fly reports. The brokerage presently has a “positive” rating on the stock. Lake Street Capital’s price objective points to a potential upside of 92.31% from the stock’s current price.

Separately, ValuEngine lowered shares of RiceBran Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 21st.

RIBT stock traded up $0.02 during trading on Tuesday, hitting $1.30. 388 shares of the company’s stock traded hands, compared to its average volume of 200,142. The company has a quick ratio of 1.44, a current ratio of 1.61 and a debt-to-equity ratio of 0.11. RiceBran Technologies has a 52 week low of $1.25 and a 52 week high of $3.87. The stock has a fifty day moving average price of $1.67 and a two-hundred day moving average price of $2.46.

RiceBran Technologies (NASDAQ:RIBT) last released its earnings results on Thursday, November 7th. The company reported ($0.10) earnings per share for the quarter, missing the 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 business had revenue of $5.30 million for the quarter.

In other news, major shareholder Grain Co Continental purchased 3,200,000 shares of RiceBran Technologies stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $1.25 per share, with a total value of $4,000,000.00. Following the completion of the acquisition, the insider now owns 10,649,068 shares in the company, valued at approximately $13,311,335. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brent Robert Rystrom purchased 80,000 shares of RiceBran Technologies stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of $1.25 per share, with a total value of $100,000.00. Following the acquisition, the chief executive officer now owns 278,737 shares of the company’s stock, valued at approximately $348,421.25. The disclosure for this purchase can be found here. In the last three months, insiders have bought 3,300,000 shares of company stock valued at $4,125,000. Corporate insiders own 8.69% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Wedbush Securities Inc. lifted its holdings in RiceBran Technologies by 20.0% in the third quarter. Wedbush Securities Inc. now owns 150,000 shares of the company’s stock worth $383,000 after purchasing an additional 25,000 shares during the period. Comprehensive Portfolio Management LLC acquired a new stake in RiceBran Technologies in the third quarter worth about $33,000. Citadel Advisors LLC acquired a new stake in RiceBran Technologies in the second quarter worth about $38,000. Vanguard Group Inc. lifted its holdings in RiceBran Technologies by 2.9% in the second quarter. Vanguard Group Inc. now owns 970,524 shares of the company’s stock worth $2,824,000 after purchasing an additional 27,112 shares during the period. Finally, BlackRock Inc. lifted its holdings in RiceBran Technologies by 136.7% in the second quarter. BlackRock Inc. now owns 126,011 shares of the company’s stock worth $367,000 after purchasing an additional 72,778 shares during the period. 26.32% of the stock is owned by institutional investors.

RiceBran Technologies Company Profile

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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