RiceBran Technologies (NASDAQ:RIBT) Price Target Cut to $2.50 by Analysts at Lake Street Capital

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RiceBran Technologies (NASDAQ:RIBT) had its price target lowered by Lake Street Capital from $4.50 to $2.50 in a research report released on Tuesday, The Fly reports. Lake Street Capital currently has a positive rating on the stock.

Separately, ValuEngine downgraded RiceBran Technologies from a buy rating to a hold rating in a research note on Monday, October 21st.

RiceBran Technologies stock opened at $1.35 on Tuesday. RiceBran Technologies has a twelve month low of $1.25 and a twelve month high of $3.87. The stock has a 50 day moving average of $1.69 and a two-hundred day moving average of $2.47. The company has a quick ratio of 1.44, a current ratio of 1.61 and a debt-to-equity ratio of 0.11.

RiceBran Technologies (NASDAQ:RIBT) last issued its earnings results on Thursday, November 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $5.30 million for the quarter. RiceBran Technologies had a negative return on equity of 42.74% and a negative net margin of 56.23%.

In other news, CEO Brent Robert Rystrom acquired 80,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average cost of $1.25 per share, with a total value of $100,000.00. Following the purchase, the chief executive officer now directly owns 278,737 shares of the company’s stock, valued at approximately $348,421.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Grain Co Continental acquired 3,200,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average cost of $1.25 per share, with a total value of $4,000,000.00. Following the completion of the purchase, the insider now directly owns 10,649,068 shares in the company, valued at $13,311,335. The disclosure for this purchase can be found here. Insiders purchased a total of 3,300,000 shares of company stock valued at $4,125,000 over the last ninety days. 8.69% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. LPL Financial LLC grew its holdings in RiceBran Technologies by 13.2% during the 2nd quarter. LPL Financial LLC now owns 53,457 shares of the company’s stock valued at $156,000 after buying an additional 6,235 shares during the last quarter. Comprehensive Portfolio Management LLC acquired a new stake in RiceBran Technologies during the 3rd quarter valued at $33,000. Citadel Advisors LLC acquired a new stake in RiceBran Technologies during the 2nd quarter valued at $38,000. Wedbush Securities Inc. grew its holdings in RiceBran Technologies by 20.0% during the 3rd quarter. Wedbush Securities Inc. now owns 150,000 shares of the company’s stock valued at $383,000 after buying an additional 25,000 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in RiceBran Technologies by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 970,524 shares of the company’s stock valued at $2,824,000 after buying an additional 27,112 shares during the last quarter. Hedge funds and other institutional investors own 26.32% of the company’s stock.

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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