What Drove The RiceBran Tech (RIBT) Stock Up During Extended Trading?

Shares of RiceBran Technologies (RIBT) were trading at $0.6301 in after-hours trading at last check, up 3.28%. RIBT stock lost -10.28% to close Wednesday’s session at $0.61. RIBT stock volume was 4.48 million shares, higher than the average daily volume of 0.7 million shares over the past 50 days.

Over the last year, RIBT shares have gained 0.02%, and they have risen 6.59% over the past week. In the past three months, the RIBT stock has lost -35.23%, while in the past six months, it has lost -469.5%. RIBT currently has a market cap of $29.35 million and 45.86 million shares outstanding. Following the release of its quarterly results, RIBT’s stock soared in extended trades.

How did RIBT perform this quarter?

RiceBran Technologies is a claim to fame fixing organization focused on the turn of events, creation, and advertising of items got from customary and antiquated little grains. Outstandingly, RIBT is a worldwide forerunner in the creation and advertising of stabilized rice bran (SRB), and high worth added subsidiary items got from SRB, just as a processor of rice, rice co-items, and grain and oat items.

RIBT makes and creates items using exclusive cycles to convey further developed nourishment, usability, and broadened time span of usability, while tending to buyer interest for all normal, non-GMO and natural items. The objective business sectors for RIBT’s items incorporate food and creature sustenance makers and retailers, just as claim to fame food, useful food and wholesome enhancement makers and retailers, both locally and universally.

The RiceBran Technologies company announced financial results for the three- and nine-month periods ended September 30, 2021.

Highlights of financial performance:

  • A total of $6.9 million was generated by RIBT in the third quarter of 2021, up from $5.2 million in the same period last year.
  • The increase was driven by Golden Ridge, which drove the profits to increase by 34%.
  • RIBT has generated a gross profit of $549,000 in first 9 month of this year.
  • This compares to a net loss of $2.4 million for the first nine months of 2020.
  • Amounts for SG&A of RIBT in the third quarter of 2021 were $1.8 million, leveled to the same in the third quarter of 2020.

How RIBT is relied upon to perform ahead?

RiceBran (RIBT) brought $3.6 million up in gross returns in the third quarter of 2021 from the offer of shares of common stock under the ATM program and a contribution that incorporated the offer of common stock shares, a warrant, and a prefunded warrant, finishing the quarter with almost $6.2 million in real money. With recently got more elevated levels of natural feedstock, this will permit RIBT to address the development popular for natural SRB subsidiaries and plan for steady interest from new clients.