Bioamber (NYSE:BIOA) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Bioamber (NYSE:BIOA) from a sell rating to a hold rating in a research note released on Tuesday, January 9th.

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. “

Other research analysts have also recently issued reports about the stock. HC Wainwright reiterated a buy rating and set a $12.00 price objective on shares of Bioamber in a report on Wednesday, November 8th. ValuEngine cut shares of Bioamber from a sell rating to a strong sell rating in a report on Friday, December 1st. Finally, Cowen reiterated a hold rating and set a $1.00 price objective on shares of Bioamber in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $6.50.

Shares of Bioamber (NYSE:BIOA) traded up $0.02 during midday trading on Tuesday, reaching $0.45. 947,378 shares of the company were exchanged, compared to its average volume of 857,988. Bioamber has a fifty-two week low of $0.32 and a fifty-two week high of $5.93. The company has a market capitalization of $22.31, a P/E ratio of -0.64 and a beta of 2.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.08 and a quick ratio of 0.75.

Bioamber (NYSE:BIOA) last posted its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.21) EPS for the quarter. Bioamber had a negative return on equity of 48.72% and a negative net margin of 238.43%. analysts anticipate that Bioamber will post -0.53 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIOA. Bank of New York Mellon Corp raised its position in Bioamber by 336.2% in the second 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. raised its position in Bioamber by 9.9% in the second 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. FMR LLC raised its position in Bioamber by 1.9% in the second 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. Finally, Robecosam AG raised its position in Bioamber by 82.9% in the third quarter. Robecosam AG now owns 1,478,000 shares of the biotechnology company’s stock worth $741,000 after acquiring an additional 670,000 shares during the period. 29.97% of the stock is currently owned by institutional investors.

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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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