SACRAMENTO, CALIFORNIA, U.S. – RiceBran Technologies’ major shareholder, Continental Grain Co., on Aug. 7 purchased 125,600 shares of RiceBran stock. The purchase was disclosed in a document filed with the Securities Exchange Commission.
The stock was acquired at an average price of $2.51 per share, for a total transaction of $315,256.
Continental Grain now owns 4,280,332 shares of RiceBran Technologies stock, worth $10,763,633.
One of the oldest food and agribusiness companies in the world, Continental Grain made its initial investment in RiceBran Technologies with the purchase of 2.7 million shares of common stock valued at $2.9 million in September 2017.
RiceBran Technologies recently announced its second-quarter earnings results and reported 11¢ earnings per share for the quarter, hitting the Zacks’ consensus estimate. RiceBran Technologies had a negative net margin of 38.14% and a negative return on equity of 64.99%. The firm had revenue of $3.2 million for the quarter.
RiceBran Technologies is a food, animal nutrition, and specialty ingredient company focused on the procurement, bio-refining and marketing of numerous products derived from rice bran. The company has proprietary and patented intellectual property that allows it to convert rice bran into a number of food, animal nutrition and specialty ingredient products. The company’s markets include food and animal nutrition manufacturers and retailers, as well as specialty food, functional food and nutritional supplement manufacturers and retailers.