Bioamber Inc (NYSE:BIOA) shares were down 10.5% during mid-day trading on Wednesday . The company traded as low as $0.18 and last traded at $0.17. Approximately 5,597,436 shares changed hands during trading, an increase of 363% from the average daily volume of 1,208,719 shares. The stock had previously closed at $0.19.
A number of research analysts recently issued reports on BIOA shares. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Bioamber in a research report on Wednesday, November 8th. Cowen restated a “hold” rating and set a $1.00 price objective on shares of Bioamber in a research report on Friday, November 10th. Zacks Investment Research upgraded Bioamber from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, ValuEngine lowered Bioamber from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $6.50.
The firm has a market capitalization of $8.33 and a PE ratio of -0.23. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.75 and a current ratio of 1.08.
Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in shares of Bioamber by 336.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 54,106 shares of the biotechnology company’s stock worth $139,000 after buying an additional 41,701 shares in the last quarter. Robecosam AG raised its stake in shares of Bioamber by 82.9% in the 3rd quarter. Robecosam AG now owns 1,478,000 shares of the biotechnology company’s stock worth $741,000 after buying an additional 670,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Bioamber by 9.9% in the 2nd quarter. Vanguard Group Inc. now owns 303,360 shares of the biotechnology company’s stock worth $780,000 after buying an additional 27,278 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Bioamber by 1.9% in the 2nd quarter. FMR LLC now owns 1,360,000 shares of the biotechnology company’s stock worth $3,495,000 after buying an additional 25,000 shares in the last quarter. Institutional investors own 29.97% of the company’s stock.
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BioAmber Inc (BioAmber), formerly DNP Green Technology, Inc, is an industrial biotechnology company, which produces sustainable chemicals. The Company’s technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstocks into sustainable chemicals that are replacements for petroleum-derived chemicals, which are used in a range of everyday products, including plastics, food additives and personal care products.
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