Zacks Investment Research upgraded shares of Marrone Bio Innovations, Inc. (NASDAQ:MBII) from a sell rating to a hold rating in a research report released on Wednesday.
According to Zacks, “Marrone Bio Innovations Inc. develops environmentally safe bio-based products. The Company specializes in the discovery, development, and marketing of natural products for weed, pest, water resource, and plant disease management. It offers crop protection products for conventional and organic crop production, including herbicides for weed control, fungicides for plant disease control, nematicides for parasitic roundworm control, insecticides for insect and mite killers and plant growth regulators that growers use to increase crop yields, enhance plant health, manage pest resistance, and reduce chemical residues. Marrone Bio Innovations Inc. is headquartered in Davis, California. “
MBII has been the subject of a number of other research reports. Jefferies Group LLC restated a hold rating and set a $2.50 target price on shares of Marrone Bio Innovations in a report on Tuesday, May 2nd. HC Wainwright reiterated a buy rating on shares of Marrone Bio Innovations in a report on Friday, May 12th.
Shares of Marrone Bio Innovations (MBII) opened at 1.14 on Wednesday. The stock has a 50 day moving average of $1.19 and a 200 day moving average of $1.81. The company’s market cap is $35.74 million. Marrone Bio Innovations has a 1-year low of $0.71 and a 1-year high of $2.79.
In related news, major shareholder Ardsley Advisory Partners purchased 50,000 shares of Marrone Bio Innovations stock in a transaction dated Tuesday, April 25th. The stock was purchased at an average cost of $1.72 per share, for a total transaction of $86,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.25% of the stock is owned by company insiders.
About Marrone Bio Innovations
Marrone Bio Innovations, Inc offers bio-based pest management and plant health products. The Company’s bio-based products include naturally occurring microorganisms, such as bacteria, fungi and plant extracts. It sells its products to crop protection market. Its four crop protection products include Regalia, Grandevo, Venerate and Majestene.
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