In a report released today, Amit Dayal from H.C. Wainwright maintained a Buy rating on Marrone Bio (NASDAQ: MBII), with a price target of $3.50. The company’s shares closed yesterday at $1.88.
Dayal said:
“We believe the company has room to continue improving margins as sales scale but expect some variability on a quarterly basis driven by sales mix. The company generated a net loss of $4.8M or $0.04 per share in 2Q18 compared to a net loss of $7.4M or $0.25 per share in 2Q17. the company had cash of $24.9M (including approximately $1.6M in short- and long-term restricted cash), and debt of $21.8M. Key takeaways. The company’s top line performance remained relatively flat compared to last year despite a broader portfolio of offerings in the market and wider geographic coverage.”
According to TipRanks.com, Dayal has 0 stars on 0-5 star ranking scale with an average return of -6.9% and a 34.9% success rate. Dayal covers the Consumer Goods sector, focusing on stocks such as Superconductor Technologies Inc, Pointer Telocation Ltd, and Pacific Ethanol.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Marrone Bio with a $3.50 average price target.
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The company has a one-year high of $3.39 and a one-year low of $0.85. Currently, Marrone Bio has an average volume of 399.9K.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock.
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Marrone Bio Innovations, Inc. engages in the provision of bio-based pest management and plant health products for the agricultural and water treatment markets. Its brand includes regalia, bio-tam, grandevo, venerate, and majestene. The company was founded by Pamela G. Marrone on June 15, 2006 and is headquartered in Davis, CA.
