New York, NY / ACCESSWIRE / May 5, 2014 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced that it has initiated coverage on RiceBran Technologies (NASDAQ: RIBT and RIBTW).
"RIBT has numerous products which are used by food manufacturers to create gluten free, hypo allergenic, minimally processed and non-gmo nutrition rich products used in pasta, baked goods, pizza dough, cereals, ground meats, healthy beverages and numerous other applications. Based on recent research from leading business research and consultancy firm RNCOS, the U.S. nutraceutical and functional food ("NFF") market is expected to grow at a 5% CAGR from 2013-2018, reaching $75bn by 2018E," remarked Ajay Tandon, CEO of SeeThruEquity. "RIBT Stage II products are also sold into the functional food segment, and are used in protein beverages, energy bars, meal replacement products and a host of other healthy and natural products. We are impressed with RIBT’s addressable market and range of products and are initiating coverage with a price target of $11.07 per share."
Additional investment highlights are as follows:
- Capacity expansion in Brazil complete, Montana expansion underway. RIBT has just completed a significant expansion at its Irgovel facility in Pelotas, Brazil increasing capacity by 50% and is currently ramping up production in Q2 to target production of 9,000 metric tons/month of raw rice bran processing capacity. RIBT has also announced a doubling of capacity expansion project at its Dillon, Montana Stage II processing facility.
- H&N acquisition increases higher margin sales, increasing capacity. In January 2014, RIBT completed the acquisition of H&N Distribution Inc., an Irving, Texas based company (“H&N”) which has a blending and co-packaging facility in Irving, Texas, where it manufactures products for the human nutrition market. H&N, which specializes in filling and packaging healthy and natural products for NFF brand owners, has been a commercial partner of RIBT since 2010. RIBT recently announced a capex project to double capacity at H&N by the beginning of Q3.
The report is available here: RiceBran Technologies Initiation Report. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack’s. The report will also be available on these platforms.
Please review important disclosures on our website at www.seethruequity.com.
SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street.
For more information visit www.seethruequity.com.
About RiceBran Technologies
RiceBran Technologies is a human food ingredient and animal nutrition company focused on the procurement, bio-refining and marketing of numerous products derived from rice bran. Rice Bran Technologies has proprietary and patented intellectual property that allows us to convert rice bran, one of the world's most underutilized food sources, into a number of highly nutritious human food ingredient and animal nutrition products. Our target markets are human food ingredients and animal nutrition manufacturers and retailers, as well as natural food, functional food and nutraceutical supplement manufacturers and retailers, both domestically and internationally.
More information can be found in our filings with the SEC and by visiting our website at www.ricebrantech.com.
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