Zacks Investment Research upgraded shares of Marrone Bio Innovations, Inc. (NASDAQ:MBII) from a sell rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Marrone Bio Innovations Inc. develops environmentally safe bio-based products. The Company specializes in the discovery, development, and marketing of natural products for weed, pest, water resource, and plant disease management. It offers crop protection products for conventional and organic crop production, including herbicides for weed control, fungicides for plant disease control, nematicides for parasitic roundworm control, insecticides for insect and mite killers and plant growth regulators that growers use to increase crop yields, enhance plant health, manage pest resistance, and reduce chemical residues. Marrone Bio Innovations Inc. is headquartered in Davis, California. “
Several other research analysts have also issued reports on MBII. Jefferies Group LLC restated a hold rating and set a $2.50 price target on shares of Marrone Bio Innovations in a report on Tuesday, May 2nd. HC Wainwright restated a buy rating on shares of Marrone Bio Innovations in a report on Friday, May 12th.
Marrone Bio Innovations (NASDAQ MBII) opened at 1.14 on Wednesday. The firm’s market cap is $35.74 million. Marrone Bio Innovations has a one year low of $0.71 and a one year high of $2.79. The company’s 50-day moving average is $1.19 and its 200-day moving average is $1.81.
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In other news, major shareholder Ardsley Advisory Partners purchased 50,000 shares of the stock in a transaction on Tuesday, April 25th. The stock was purchased at an average price of $1.72 per share, for a total transaction of $86,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.25% of the stock is currently owned by company insiders.
About Marrone Bio Innovations
Marrone Bio Innovations, Inc offers bio-based pest management and plant health products. The Company’s bio-based products include naturally occurring microorganisms, such as bacteria, fungi and plant extracts. It sells its products to crop protection market. Its four crop protection products include Regalia, Grandevo, Venerate and Majestene.
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