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Saturday, June 19, 2021

Why Marrone Bio Innovations, Inc. (MBII) rallied in Pre-Market trading?

Marrone Bio Innovations, Inc. (MBII) is the leading developer, producer, and solution provider of biological products for plant health, plant nutrition, and pest management in the United States and the globe. MBII stock price pushed by 14.74% to reach $2.88 per share in Friday’s pre-market as of this writing. There is nothing specific to explain this rise however, the company today announced that it will release financial results of the fourth quarter and fiscal 2020 results on Tuesday, March 23, 2021, at 4:30 p.m. Eastern time.


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What’s happening?

There is no news except the announcement of the fourth quarter and fiscal year earnings release date, no press release, no analyst upgrades or higher targeted stock price, no social media discussion between investors to explain the reason behind this bullish sentiment. The penny stock was up by 7.73% with a $2.51 per share price at the previous closing.

Marrone Bio announced on Feb. 08, 2021, that it has filed a shelf registration statement pursuant to which the company might sell various securities up to $90 million over the next three years to raise its capital. The purpose of the shelf registration statement was to ensure flexibility to meet future finance business opportunities.

In the third quarter, the company generated $8.8 million in revenue with a 27% increase as compared to the previous quarter. Gross profit was rose by 40% to $5 million in the third quarter with a 56.7% gross margin. Operating expenses were $13.5 million in the third quarter of 2020.net loss was $6.3 million with 63% improvement and Adjusted EBITDA was $3.6 with 18% improvement in the third quarter.$0.9 million cash was used in operations with 85% improvement as compared to $5.7 million of cash used in operation in the same tenure of 2019.

Conclusion:

The share price of MBII was continuously rising in the pre-market despite the absence of reason. The third-quarter report shows that the company has shown growth in the business. The fourth-quarter and full-year results of 2020 ahead will further decide the fate of the company.

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