National Securities restated their buy rating on shares of Marrone Bio Innovations (NASDAQ:MBII) in a research note released on Thursday. They currently have a $2.50 price target on the basic materials company’s stock.
“Strong First Half of 2019 Could Be the Catalyst Shareholders Need. With shares hitting a resistance level of roughly $1.60 several times over the past six months, we believe a strong performance over the next two quarters could be the catalyst shares need to break through this level.
Strong Second Half Of 2018 A Sign of What Is To Come. Coming off a weak first half of 2018 which saw revenue decline by 5%, MBII ended 2018 strong with 47% growth in the second half of the year. We believe this momentum will continue into the first half of 2019.
TTM Numbers Poised for Meaningful Improvement Over Next Two Quarters. We model TTM revenue growth of 50% through the first half of 2019. Should results fall in line with our estimates, we believe MBII shares will look increasingly attractive to quantitative and fundamental investors alike.
Maturation Of The Sales Force Set To Deliver. In late 2017, MBII had a turnover of 75% of its sales force. With the vacancies filled in early 2018, much of the sales force is now beginning its second year with the company. We believe the natural maturation of this group will be a catalyst for meaningful growth in 2019 and 2020.
A New Fiscal Year Never Looked So Good. With a healthy balance sheet, stable sales force, ramping of a major seed treatment contract and strong macro tailwinds, we believe MBII enters 2019 in a better position than it has enjoyed since its IPO in 2013.,” National Securities’ analyst wrote.
Shares of NASDAQ:MBII opened at $1.62 on Thursday. Marrone Bio Innovations has a one year low of $1.10 and a one year high of $2.18. The company has a quick ratio of 1.94, a current ratio of 2.66 and a debt-to-equity ratio of 1.48. The company has a market cap of $179.32 million, a PE ratio of -7.71 and a beta of -0.15.
Marrone Bio Innovations (NASDAQ:MBII) last issued its quarterly earnings results on Thursday, March 14th. The basic materials company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Marrone Bio Innovations had a negative net margin of 95.26% and a negative return on equity of 110.20%. The company had revenue of $5.72 million during the quarter, compared to analysts’ expectations of $5.03 million. As a group, equities research analysts forecast that Marrone Bio Innovations will post -0.18 earnings per share for the current fiscal year.
In related news, major shareholder Van Herk Investments B.V. sold 1,500,000 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $1.57, for a total transaction of $2,355,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.90% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of Marrone Bio Innovations by 0.5% in the fourth quarter. BlackRock Inc. now owns 2,800,519 shares of the basic materials company’s stock valued at $4,117,000 after buying an additional 14,014 shares during the period. Vanguard Group Inc raised its position in Marrone Bio Innovations by 13.5% during the third quarter. Vanguard Group Inc now owns 2,554,605 shares of the basic materials company’s stock worth $4,675,000 after acquiring an additional 303,201 shares in the last quarter. Vanguard Group Inc. raised its position in Marrone Bio Innovations by 13.5% during the third quarter. Vanguard Group Inc. now owns 2,554,605 shares of the basic materials company’s stock worth $4,675,000 after acquiring an additional 303,201 shares in the last quarter. Geode Capital Management LLC raised its position 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 in the last quarter. Finally, Rhumbline Advisers raised its position in Marrone Bio Innovations by 44.3% during the fourth quarter. Rhumbline Advisers now owns 68,021 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 20,882 shares in the last quarter. Hedge funds and other institutional investors own 42.07% of the company’s stock.
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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