RiceBran Technologies (RIBT) Given a $5.00 Price Target at Lake Street Capital

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Lake Street Capital set a $5.00 price target on RiceBran Technologies (NASDAQ:RIBT) in a research report sent to investors on Wednesday, The Fly reports. The firm currently has a buy rating on the stock.

Separately, Maxim Group reissued a hold rating on shares of RiceBran Technologies in a research note on Friday, August 3rd.

Shares of RiceBran Technologies stock traded down $0.12 during trading on Wednesday, reaching $2.75. 83,916 shares of the stock were exchanged, compared to its average volume of 71,133. RiceBran Technologies has a 1 year low of $1.17 and a 1 year high of $3.46.

RiceBran Technologies (NASDAQ:RIBT) last posted its earnings results on Tuesday, November 6th. The company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.02. The company had revenue of $3.46 million during the quarter. RiceBran Technologies had a negative net margin of 74.93% and a negative return on equity of 45.57%.

In related news, major shareholder Grain Co Continental purchased 123,779 shares of the firm’s stock in a transaction that occurred on Thursday, August 30th. The stock was bought at an average cost of $3.21 per share, with a total value of $397,330.59. Following the completion of the purchase, the insider now directly owns 4,626,221 shares in the company, valued at $14,850,169.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders purchased 388,542 shares of company stock valued at $1,164,062. 10.18% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in RIBT. BlackRock Inc. raised its stake in RiceBran Technologies by 340.2% in the second quarter. BlackRock Inc. now owns 60,264 shares of the company’s stock worth $130,000 after buying an additional 46,574 shares in the last quarter. JPMorgan Chase & Co. raised its stake in RiceBran Technologies by 253.4% in the third quarter. JPMorgan Chase & Co. now owns 101,860 shares of the company’s stock worth $292,000 after buying an additional 73,036 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in RiceBran Technologies by 190.7% in the second quarter. Renaissance Technologies LLC now owns 669,200 shares of the company’s stock worth $1,445,000 after buying an additional 439,000 shares in the last quarter. 11.03% of the stock is owned by institutional investors.

About RiceBran Technologies

RiceBran Technologies processes and markets healthy, natural, and nutrient dense products derived from raw rice bran. The company manufactures and distributes stabilized rice bran (SRB) in various granulations with other products and derivatives. It offers RiBalance, a rice bran nutritional package derived from further processing of SRB; RiSolubles, a nutritious carbohydrate and lipid rich fraction of RiBalance; RiFiber, a protein and fiber rich derivative of RiBalance; and protein and protein/fiber blends under the ProRyza brand.

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