Maxim Group analyst Anthony Vendetti maintained a Hold rating on RiceBran Technologies (NASDAQ: RIBT) today. The company’s shares opened today at $2.79, close to its 52-week high of $3.09.
Vendetti observed:
“Market open, RIBT announced preliminary 2Q18 revenue below both our estimate and consensus, primarily due to bran supply headwinds that are also expected to impact 3Q18. Net loss widened sequentially over 1Q18, inline with expectations, mostly due to lower revenue and gross margin compression.”
According to TipRanks.com, Vendetti is a 5-star analyst with an average return of 12.1% and a 59.6% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.
The the analyst consensus on RiceBran Technologies is currently a Hold rating.
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Based on RiceBran Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.91 million. In comparison, last year the company had a GAAP net loss of $1.22 million.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RIBT in relation to earlier this year.
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RiceBran Technologies engages in the process and distribution of stabilized rice bran and other proprietary, rice bran-based ingredients, and formulations. It offers products including food ingredients, meat inclusion, animal nutrition, and derivatives. The company was founded on March 18, 1998 and is headquartered in West Sacramento, CA.
