Maxim Group analyst Anthony Vendetti maintained a Hold rating on RiceBran Technologies (RIBT) today. The company’s shares closed yesterday at $2.60.
Vendetti wrote:
“RIBT reported slightly better-than-expected 3Q18 revenue and GAAP loss per share figures. The company slightly increased its 2018 revenue guidance and introduced 2019 revenue guidance of $40M, well above our estimate. On 11/5/18, RIBT exercised its purchase option to acquire for total consideration $7M–$8M, with over 50% to be paid in stock. We are introducing quarterly estimates for 2019.”
According to TipRanks.com, Vendetti is a 5-star analyst with an average return of 11.2% and a 55.2% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.
RiceBran Technologies has an analyst consensus of Hold.
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Based on RiceBran Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.16 million. In comparison, last year the company had a GAAP net loss of $5.55 million.
Based on the recent corporate insider activity of 41 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.
