Marrone Bio Innovations Inc (NASDAQ:MBII) – Research analysts at Zacks Investment Research lowered their Q3 2019 earnings estimates for Marrone Bio Innovations in a report released on Monday, August 12th. Zacks Investment Research analyst I. Gilson now forecasts that the basic materials company will earn ($0.05) per share for the quarter, down from their prior estimate of ($0.04). Zacks Investment Research also issued estimates for Marrone Bio Innovations’ FY2019 earnings at ($0.18) EPS, Q2 2020 earnings at ($0.04) EPS, Q3 2020 earnings at ($0.04) EPS, Q4 2020 earnings at ($0.03) EPS, FY2020 earnings at ($0.12) EPS, FY2021 earnings at ($0.11) EPS and FY2022 earnings at ($0.10) EPS.
A number of other research analysts have also commented on MBII. Aegis initiated coverage on Marrone Bio Innovations in a report on Wednesday, July 24th. They set a “buy” rating and a $2.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $2.50 price target on shares of Marrone Bio Innovations in a report on Monday, August 12th. Finally, National Securities reissued a “buy” rating and set a $2.50 price target on shares of Marrone Bio Innovations in a report on Friday, August 9th.
Marrone Bio Innovations (NASDAQ:MBII) last issued its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $7.00 million for the quarter, compared to analyst estimates of $9.01 million. Marrone Bio Innovations had a negative net margin of 86.09% and a negative return on equity of 193.23%.
Several institutional investors and hedge funds have recently modified their holdings of MBII. Essex Investment Management Co. LLC acquired a new position in shares of Marrone Bio Innovations during the second quarter valued at $843,000. SG Americas Securities LLC acquired a new position in Marrone Bio Innovations during the first quarter worth about $74,000. Spark Investment Management LLC grew its holdings in Marrone Bio Innovations by 47.5% during the first quarter. Spark Investment Management LLC now owns 95,000 shares of the basic materials company’s stock worth $145,000 after acquiring an additional 30,600 shares during the period. Geode Capital Management LLC grew its holdings in Marrone Bio Innovations by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 443,611 shares of the basic materials company’s stock worth $652,000 after acquiring an additional 24,460 shares during the period. Finally, BlackRock Inc. grew its holdings in Marrone Bio Innovations by 0.8% during the second quarter. BlackRock Inc. now owns 2,657,546 shares of the basic materials company’s stock worth $3,986,000 after acquiring an additional 22,254 shares during the period. 42.01% of the stock is currently owned by institutional investors.
About Marrone Bio Innovations
Marrone Bio Innovations, Inc provides bio-based pest management and plant health products primarily for agricultural and water markets in the United States and internationally. It offers herbicides; fungicides; nematicides; insecticides; algaecides for algae control; molluscicides for mussel and snail control; plant growth and stress regulators; and water treatment products for various applications, such as hydroelectric and thermoelectric power generation, industrial applications, drinking water, aquaculture, irrigation, and recreation.
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