Ocean Bio-Chem (NASDAQ:OBCI) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Ocean Bio-Chem (NASDAQ:OBCI – Get Rating) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the stock.

Shares of NASDAQ OBCI opened at $7.72 on Thursday. The company has a market capitalization of $73.40 million, a P/E ratio of 8.77 and a beta of 0.35. Ocean Bio-Chem has a 52-week low of $7.50 and a 52-week high of $15.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.49 and a current ratio of 9.11. The company’s 50 day moving average price is $8.39 and its 200-day moving average price is $9.00.

Several hedge funds and other institutional investors have recently bought and sold shares of OBCI. BlackRock Inc. grew its stake in shares of Ocean Bio-Chem by 637.3% in the 3rd quarter. BlackRock Inc. now owns 10,846 shares of the company’s stock worth $102,000 after acquiring an additional 9,375 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Ocean Bio-Chem during the 3rd quarter worth approximately $93,000. Dimensional Fund Advisors LP grew its stake in Ocean Bio-Chem by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 79,472 shares of the company’s stock valued at $691,000 after buying an additional 1,988 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in Ocean Bio-Chem by 14.5% in the 4th quarter. Stifel Financial Corp now owns 25,475 shares of the company’s stock valued at $222,000 after buying an additional 3,225 shares in the last quarter. Hedge funds and other institutional investors own 8.03% of the company’s stock.

Ocean Bio-Chem Company Profile (Get Rating)

Ocean Bio-Chem, Inc manufactures, markets, and distributes appearance, performance, and maintenance products for the marine, automotive, power sports, recreational vehicle, home care, and outdoor power equipment markets in the United States and Canada. The company offers marine products, including polishes, cleaners, protectants, waxes, enzyme fuel treatments, private label products, motor and teak oils, boat washes, vinyl and teak cleaners, bilge and hull cleaners, silicone and polyurethane sealants, polysulfide sealants, gasket materials, lubricants, antifouling additives, and anti-freeze coolants; and brushes, brush handles, tie-downs, and other related accessories.

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