RiceBran Technologies (NASDAQ:RIBT) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of RiceBran Technologies (NASDAQ:RIBTGet Rating) in a report issued on Tuesday. The firm set a “sell” rating on the stock.

NASDAQ:RIBT opened at $0.51 on Tuesday. RiceBran Technologies has a fifty-two week low of $0.27 and a fifty-two week high of $1.83. The stock has a market capitalization of $26.43 million, a P/E ratio of -2.83 and a beta of 0.57. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.18 and a current ratio of 1.44. The company’s 50-day simple moving average is $0.42 and its 200-day simple moving average is $0.43.

RiceBran Technologies (NASDAQ:RIBTGet Rating) last released its quarterly earnings results on Thursday, March 17th. The company reported ($0.03) earnings per share for the quarter. RiceBran Technologies had a negative net margin of 28.75% and a negative return on equity of 24.43%. The firm had revenue of $8.04 million during the quarter.

In related news, major shareholder Grain Co Continental sold 671,661 shares of RiceBran Technologies stock in a transaction that occurred on Wednesday, March 30th. The shares were sold at an average price of $0.48, for a total value of $322,397.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 1,092,893 shares of company stock valued at $534,863 over the last quarter. 3.32% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in RiceBran Technologies by 53.1% in the 3rd quarter. BlackRock Inc. now owns 93,043 shares of the company’s stock worth $55,000 after purchasing an additional 32,258 shares in the last quarter. Millennium Management LLC boosted its stake in RiceBran Technologies by 365.6% in the 2nd quarter. Millennium Management LLC now owns 109,665 shares of the company’s stock worth $124,000 after purchasing an additional 86,113 shares in the last quarter. Two Sigma Advisers LP raised its position in RiceBran Technologies by 55.5% during the 3rd quarter. Two Sigma Advisers LP now owns 213,700 shares of the company’s stock worth $126,000 after buying an additional 76,300 shares during the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in RiceBran Technologies during the 3rd quarter worth approximately $590,000. Institutional investors own 34.82% of the company’s stock.

About RiceBran Technologies (Get Rating)

RiceBran Technologies, together with its subsidiaries, operates as a specialty ingredient company. It focuses on producing, processing, and marketing of value-added processing and marketing of healthy, natural, and nutrient dense products derived from rice and other small grains, and by-products created in the milling of these grains.

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