In a report released today, Anthony Vendetti from Maxim Group maintained a Hold rating on RiceBran Technologies (NASDAQ: RIBT). The company’s shares closed yesterday at $2.38.
Vendetti wrote:
“RIBT reported relatively inline 2Q18 results, including revenue slightly above the preannouncement from 7/9/18 and GAAP EPS inline with our estimate and consensus. Supply headwinds continue to negatively impact the company and as a result, RIBT lowered 2018 revenue guidance to $14M-$15M, from at least $16M. The Golden Ridge facility appears to be operational and we believe it is a strong possibility that RIBT will acquire the company during 2H18 to boost production capacity and realize cost efficiencies.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 10.3% and a 55.6% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.
Currently, the analyst consensus on RiceBran Technologies is a Moderate Buy with an average price target of $4.
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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 $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.
