Jefferies Group Increases Marrone Bio Innovations Inc. (MBII) Price Target to $2.50
Marrone Bio Innovations Inc. (NASDAQ:MBII) had its price objective lifted by equities researchers at Jefferies Group from $1.50 to $2.50 in a note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the stock. Jefferies Group’s price target suggests a potential upside of 8.23% from the company’s current price.
Separately, Zacks Investment Research cut shares of Marrone Bio Innovations from a “hold” rating to a “sell” rating in a research note on Thursday, November 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $5.50.
Marrone Bio Innovations (NASDAQ:MBII) traded up 2.21% during trading on Wednesday, hitting $2.31. 112,491 shares of the stock traded hands. The company has a 50-day moving average price of $1.97 and a 200-day moving average price of $1.29. The stock’s market cap is $56.96 million. Marrone Bio Innovations has a 12 month low of $0.60 and a 12 month high of $2.79.
Marrone Bio Innovations (NASDAQ:MBII) last released its quarterly earnings results on Monday, November 14th. The company reported ($0.29) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by $0.07. Marrone Bio Innovations had a negative return on equity of 2,083.14% and a negative net margin of 258.51%. Equities research analysts expect that Marrone Bio Innovations will post ($1.17) EPS for the current year.
A hedge fund recently bought a new stake in Marrone Bio Innovations stock. Ardsley Advisory Partners purchased a new position in shares of Marrone Bio Innovations Inc. (NASDAQ:MBII) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 774,438 shares of the company’s stock, valued at approximately $1,324,000. Ardsley Advisory Partners owned approximately 3.15% of Marrone Bio Innovations at the end of the most recent quarter. 38.05% of the stock is owned by hedge funds and other institutional investors.
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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