RiceBran Technologies (NASDAQ:RIBT) Stock Sees Selling Pressure Ahead of Quarterly Earnings
RiceBran Technologies (NASDAQ: RIBT) lost 10% after the company announced that its CFO Todd Mitchell and Executive Chairman Peter Bradley would host a conference call to discuss financial results for Q4 and FY 2021 on Thursday, March 17, 2021.
Market Stats
On Friday, RIBT stock moved down 10.63% to $0.4379 with more than 2.44 million shares, compared to its average volume of 912K shares. The stock moved within a range of $0.4150 – 0.4720 after opening trading at $0.4620.
Key Trigger
The company develops and producesnutrition and functional components derived from ancient and small grains for nutraceutical, healthy food, animal feeds, and pet care markets. The target market for the company’s products includes animal nutrition and food producers and retailers and functional food, food, and nutritional supplement retailers and manufacturers. In addition, its revolutionary and novel stabilization process used in creating clean and highly nutritious products from rice bran is among the world’s underused food sources.
When the company released its Q3 results, it indicated that it had enhanced operations to eliminate systemic challenges and improve execution. As a result, revenue grew 34% YoY, and the company narrowed EBITDA loss despite labor shortages and supply chain disruptions that impacted operations. Therefore in the coming weeks, investors should keep an eye on RIBT.
Traders Corner
RIBT stock is trading above the 20-Day and 50-Day Moving averages of $0.39 and $0.34 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.64.
