The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. RiceBran Technologies shares valued at $911,987 were sold by CONTINENTAL GRAIN CO on May 24. At $0.72 per share, CONTINENTAL GRAIN CO sold 1,267,000 shares. The insider’s holdings dropped to 3,543,161 shares worth approximately $2.8 million following the completion of this transaction.
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Also, CONTINENTAL GRAIN CO sold 530,000 shares, netting a total of over 384,886 in proceeds. Following the sale of shares at $0.73 each, the insider now holds 4,810,161 shares.
Before that, CONTINENTAL GRAIN CO had sold 150,000 shares from its account. In a trade valued at $89,505, the 10% Owner traded RiceBran Technologies shares for $0.60 each. Upon closing the transaction, the insider’s holdings decreased to 150,000 shares, worth approximately $4.22 million.
As published in their initiating research note from Lake Street on May 11, 2017, RiceBran Technologies [RIBT] has been a Buy and the price target has been revised to $2. This represents a 60.5% premium over Wednesday’s closing price. Analysts at Maxim Group downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late March. As of March 03, 2016, Maxim Group has reiterated its “Buy” rating for RIBT. Earlier on November 13, 2015, Maxim Group resumed its rating. Their recommendation was “a Buy” for RIBT stock.
Analyzing RIBT’s Price Performance
On Wednesday, RiceBran Technologies [NASDAQ: RIBT] rose 6.74% to $0.79. The stock’s lowest price that day was $0.732, but it reached a high of $0.793 in the same session. During the last five days, there has been a surge of approximately 4.96%. Over the course of the year, RiceBran Technologies shares have jumped approximately 127.22%. Shares of the company reached a 52-week high of $0.8995 on 06/08/22 and a 52-week low of $0.2700 on 01/27/22. A 50-day SMA is recorded $0.6258, while a 200-day SMA reached $0.4963. Nevertheless, trading volume fell to 2.12 million shares from 2.36 million shares the previous day.
Support And Resistance Levels for RiceBran Technologies (RIBT)
According to the 24-hour chart, there is a support level at 0.7523, which, if violated, would cause prices to drop to 0.7117. In the upper region, resistance lies at 0.8133. The next price resistance is at 0.8337. RSI (Relative Strength Index) is 58.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0035, which suggests the price will decrease in the coming days. Percent R is at 38.10%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of RiceBran Technologies (RIBT)?
According to Continental Grain Company Corp. filings, the company currently owns 1,500,000 shares, which is about 2.90% of the total RIBT shares outstanding. The investor’s shares have plunged by -7,726,068 from its previous 13-F filing of 9226068.0 shares. With the completion of the sale, The Vanguard Group, Inc.’s stake is now worth $943,388. Geode Capital Management LLC reduced a 0.00% interest valued at $0.36 million while Renaissance Technologies LLC sold a -118,200 stake. A total of 45,000 shares of RiceBran Technologies were sold by Arnhold LLC during the quarter, and 154,103 by SSgA Funds Management, Inc. In its current portfolio, BlackRock Fund Advisors holds 93,477 shares valued at $70108.0.
In terms of RiceBran Technologies share price expectations, FactSet research, analysts set an average price target of $0.65 in the next 12 months, down nearly -12.16% from the previous closing price of $0.74. Analysts anticipate RiceBran Technologies stock to reach $0.65 by 2022, with the lowest price target being $0.65. In spite of this, 1 analysts ranked RiceBran Technologies stock as a Hold at the end of 2022. On April 09, 2015, Maxim Group assigned a price target of “a Buy” to the stock and initiated coverage with a $7.