Shares of the company are trading at $2.68 a bit higher than $2.33, the 50 day moving average and marginally under the 200 day moving average of $3.19. The 50 day moving average went up $0.35 or +14.95% and the 200 day average was down $-0.51. BioAmber Inc. shares had a trading volume of 79K on Thursday. Trading volume was up 92.83% over the stocks average daily volume.
Here is the rundown on market activity for BioAmber Inc. (NYSE:BIOA). George Frederick John Gosbee, Director bought $96,750 worth of shares at an average price of $3.87 on November 9th. That brings the Director’s holdings to $96,750 as reported to the SEC. Director Kurt W. Briner disclosed the purchase of 10,000 shares. The shares were purchased at an average price of $3.84. The Director now owns $586,157 of the stock according to the SEC filing.
Kurt W. Briner, Director acquired $3,690 worth of shares at an average price of $3.69 on Tue the 24th. That brings Briner’s holdings to $526,360 per an SEC filing yesterday.
These funds have also shifted positions in (BIOA). Levin Capital Strategies, L.p. bolstered its stake by buying 19,312 shares an increase of 11.9% from 12/31/2016 to 03/31/2017. Levin Capital Strategies, L.p. controls 182,052 shares valued at $422,000. The total value of its holdings decreased 52.8%. Morgan Stanley divested its position by shedding 200 shares a decrease of 40.0% in the quarter. Morgan Stanley currently owns 300 shares worth $1,000. The value of the position overall is down by 66.7%.
As of the end of the quarter Alyeska Investment Group, L.p. had acquired a total of 1 shares growing its holdings by 0.0%. The value of the investment in (BIOA) went from $746,000 to $315,000 a change of 57.8% since the last quarter. As of quarter end Brown Advisory Inc had sold 600 shares trimming its stake by 1.2%. The value of the investment in BioAmber Inc. decreased from $267,000 to $111,000 a change of $156,000 for the reporting period.
On January 5, 2016 H.C. Wainwright initiated coverage on BIOA with a rating of “Buy” and setting a price target of $18.00. November 24 investment analysts at Barclays held the company rating at “Overweight” but lowered the price target to $16.00 from $20.00.
On October 8 analysts at Canaccord Genuity starting coverage on the stock with an initial rating of “Buy” and establishing a price target of $16.00.
The company is up by 3.47% since yesterday’s close of $2.59. In the last earnings report the EPS was $-0.38 and is projected to be $-0.43 for the current year with 37,073,000 shares currently outstanding. Next quarter’s EPS is expected be $-0.12 with next year’s EPS anticipated to be $-0.23.
BioAmber Inc. (BioAmber), formerly DNP Green Technology, Inc., launched on October 15, 2008, is an industrial biotechnology company, which produces sustainable chemicals. The Business’s technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstocks into sustainable chemicals that are replacements for petroleum-derived chemicals, which are used in a range of everyday products, including plastics, resins, food additives and personal care products. Its geographical segments include Europe and North America. The Company sells its product, bio-succinic acid, to customers in a range of chemical markets. Bio-succinic acid is a biologically produced, chemically identical replacement for petroleum-derived succinic acid that can be utilized to produce derivative products, such as bio-based 1,4 Butanediol (1,4 BDO), and can substitute petrochemicals, such as maleic anhydride, phthalic acid and adipic acid in various applications. Its bio-based specialty chemicals can be used in multiple end-markets and applications, and serves as building blocks for a range of products used every day. Bio-succinic acid is used in various applications, including plasticizers, polyurethanes, resins and coatings, de-icing and coolant solutions, fine chemicals and lubricants, as well as anti-freeze solutions, coolants solvents, water treatment chemicals, laundry tablets and bath salts, artificial leather products, and foams made with recycled polyethylene terephthalate (PET)..Advertisement