Lake Street Capital Trims RiceBran Technologies (NASDAQ:RIBT) Target Price to $2.50

RiceBran Technologies (NASDAQ:RIBT) had its price target decreased 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 lowered RiceBran Technologies from a buy rating to a hold rating in a research report on Monday, October 21st.

NASDAQ:RIBT opened at $1.35 on Tuesday. The business’s 50-day moving average is $1.69 and its two-hundred day moving average is $2.47. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.61 and a quick ratio of 1.44. RiceBran Technologies has a 12 month low of $1.25 and a 12 month high of $3.87.

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

In other news, CEO Brent Robert Rystrom acquired 80,000 shares of the 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 completion of the acquisition, the chief executive officer now directly owns 278,737 shares in the company, valued at $348,421.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Grain Co Continental acquired 3,200,000 shares of the 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 acquisition, the insider now owns 10,649,068 shares of the company’s stock, valued at $13,311,335. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 3,300,000 shares of company stock worth $4,125,000. Corporate insiders own 8.69% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in RiceBran Technologies by 2.9% in the second 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. Wedbush Securities Inc. increased its holdings in RiceBran Technologies by 20.0% in the third 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. BlackRock Inc. increased its holdings in RiceBran Technologies by 136.7% in the second quarter. BlackRock Inc. now owns 126,011 shares of the company’s stock valued at $367,000 after buying an additional 72,778 shares during the last quarter. LPL Financial LLC increased its holdings in RiceBran Technologies by 13.2% in the second 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. Finally, Citadel Advisors LLC bought a new stake in RiceBran Technologies in the second quarter valued at about $38,000. 26.32% of the stock is owned by hedge funds and other 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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